Rachel Elnaugh became a dragon on the British TV series Dragons' Den after founding Red Letter Days.
Red Letter Days was an experience-gift company founded by Elnaugh in 1989. It sold vouchers for activities and special experiences, a business model that helped popularise experience-based gifting in the United Kingdom. Elnaugh's entrepreneurial background led to her joining the original Dragons' Den panel.
She was one of the programme's early investors, appearing alongside figures including Peter Jones, Duncan Bannatyne and Doug Richard. Elnaugh later left the panel, and her place in the show's history is sometimes mixed up with Deborah Meaden, who became a dragon in a later series.
The Red Letter Days story also illustrates that a dragon's television role and business career are separate parts of the biography. Elnaugh's prominence on the programme came from her experience building a consumer brand before becoming an investor on television.