Mark Cuban is the owner of the NBA’s Dallas Mavericks. He became owner in 2000. He also owns Landmark Theaters and Magnolia Pictures. He also chairs the board of HDTV cable network. Mr. Cuban is also in the Guinness Book of Records for the “largest single e-commerce transaction”. He is a savvy billionaire with his hands in many different business areas. When looking at business plans, Mr. Cuban makes sure there is a market for the service/product and the background of the company.
I have made changes to the financial part of my business plan to clearly show accurate projections and other costs. I have also made changes to the management section. Initially I had all three partners as equal and reporting to each other. While all three partners are still equal, there is one managing partner.
I feel the most important section of the business plan to an investor are the finances. The investor needs to clearly see business trends and projections to see if it is worth investing. Start up cost and profits are also important, it shows the investors if there is a return on money. Investors ONLY invest if there is a CLEAR chance for a RETURN ON IVESTEMENT (ROI).
While the TV show Shark Tank is VERY intimidating, I would ne honored to hear the thoughts of all the sharks especially Mark Cuban. I think the best investors are ones that do not hold back, nor “sugar coat” what they think. A business plan can be VERY difficult to put together and EXTRA scary to pitch to an investor. While we may not want to hear “I do not want to invest”, we need to hear it and learn what we can do better. Mark Cuban has experience in many different business ventures and knows how to make money.
Sources
www.nba.com
www.abc.com
http://bpexpertviews.blogspot.com/
