Few days ago I had the great pleasure of chatting with Brett Wilson, Calgary entrepreneur, investor, and philanthropist. Here is the video Brett Wilson interview – 02/05 – New TV show “Risky Business” (see below for interview transcript). [Click her for links to watch all five parts of the interview series.]
Kempton: Can you talk about the new show “Risky Business”? Did you watch the UK Duncan Bannatyne version of the show (known as “Beat the Bank”)?
Brett: I watched a bit of one episode to get a sense of what he was trying to do. And I liked it. I thought it has potential. I want to do television that would be fun. I am working with a group of people … 11 entertainment is such a treat to deal with, in terms of, everything from contracting, to casting, web development, social media …
Kempton: Do you know them from before?
Brett: No. It was a complete cold call on their part. We knew people in overlapping circles. But I did not know anybody in 11.
Kempton: They have offices in Toronto, the US, …
Brett: Toronto, LA, and Sydney. We will see where this goes. Right now its a Canadian television show for Slice, one of the Shaw/Global family of channels. And I am looking forward to getting it on air this fall.
Kempton: Have you guys finished casting? Before I get to the casting question, were you involved in selecting the business opportunities appearing on the show? My understanding is in each episodes, two investment opportunities are presented and the investors pick one, and you are left with the other. So you don’t want it to be both duds. Or one good and one dud.
Brett: You are absolutely right. Premise of the show is that a couple who are willing to invest a good portion of their savings. So that makes it high risk & high stakes for them. Which comes down to the concept of Risky Business. But the two businesses that are coming on, we are screening right now, have to be investment opportunity, not necessary a business, investment opportunity that matures in 30 days.
These are real world experiences. People run across this sort of stuff everyday. Whether it is helping someone buy a wine collection or sporting cards or buy a car that needs to be tweaked and then be flipped in an antique auction. Or someone who is a pool shark and who could out hustle someone else that needs to be staked. Or may be instead of staking the pool shark, we put on a tournament, we see what we can win as the pool tournament sponsor where we’ve got the inside track in terms of partner that is one of the player.
So lots of different ways of looking at these things. But these are real world experiences and opportunities. Typical investments: $15,000 – $20,000. Some will have higher risks and therefore higher rewards. And you are absolutely right, whatever the investing couple doesn’t take, becomes my investment.
Kempton: Did you get a say, or did someone in your company get a say on what opportunities get to be on the show? After all, we are talking about real money here. Your money, plus, I guess more importantly, the investors’ money.
Brett: By the end of the show, I will have a quarter of a million dollars, give or take, invested in 12 different investments. And the entrepreneurs who have come on the show, similarly, in aggregate, will have that kind of money invested: ten to twenty thousand dollars per show. Read the rest of this entry »