How Expert's Opinions Help Mould a Business Plan

Mark Cuban’s opinion of business plans has taught me to leave no stone unturned in regards to how the potential business can thrive in the current market. Firstly, when presenting the proposal, or simply doing an elevator pitch, one has to ensure they’re sufficiently informed regarding the nature of that particular business, including the competition and potential profit margin. The ability to run the business is imperative; equally as important as behaving like it, especially when seeking an investment from a veteran in the business of profit. Growth is also an important aspect to show, and if possible, guarantee. Above all, lack of realistic financials is also a deterrent for investment. If the money doesn’t make sense, in the eyes of an investor, there’s a high possibility it won’t make dollars either.

Bobby Flay’s opinion of business plans has taught me to ensure that the team is competent, cohesive, and the investment seeker possesses the ability to work with a team. Leadership skills are an absolute necessity for anyone pursuing or attempting to start any organization, profit or non-profit.  A unique business concept is an even bigger attraction for an investment. The ability to provide an original product or service in any market provides both an opportunity for a great return on investment, and room for growth.

Experts' view on the Value of Business Plans

Mark Cuban: is an American business mogul, investor, the owner of the Dallas Mavericks, Magnolia Pictures, Landmark Theaters, and the chairman of HDNet (HDTV cable network). He is also a part-time participant/investor on the television series Shark Tank. Cuban was born in Pittsburgh, Pennsylvania in 1958, and throughout his childhood had explored business ideas. His first business venture involved the sales of garage bags, in order to pay for a pair of expensive basketball shoes. He attended Indiana University, where he graduated with a Bachelor's in Business Administration.

His participation on Shark Tank may be the best way to analyze his view on Business Plans. One aspect Cuban focuses on is if a need actually exists for the product/service, then if there is a market for the product/service. If available, the track record of the individual(s) seeking the investment, the financial history of the business itself, and if room for potential growth exists within the current business model. Finally, Mark would consider how his expertise would benefit the business, which would ultimately determine whether or not he would invest. If financial information is lacking, there's a very high possibility Cuban will opt out. A truly aggressive businessman.



Bobby Flay: Robert William Flay was born in December, 1964. He is a celebrity chef, reality TV personality, and restaurateur. In fact, he currently owns 12 restaurants in locations such as Las Vegas, New York, New Jersey, The Bahamas, Connecticut, Pennsylvania, and Washington D.C.

Flay is also one of the investors on NBC's America's Next Great Restaurant. On the show, investors seek the next best restaurant concept to invest millions of dollars into. The locations targeted are Los Angeles, New York, and Minneapolis.  Flay looks for the ambition, determination, and drive in the concept of the business. Elements he looks for are the marketability of the concept, the investment seeker's ability to work with a team, their leadership skills, and how unique the concept is. All these elements contribute to the success of a restaurant; elements an expert such as Bobby Flay looks for.

Source: http://en.wikipedia.org/wiki/Mark_Cuban
           http://bpexpertviews.blogspot.com/
           http://www.bobbyflay.com/bobby-flay.php
           http://en.wikipedia.org/wiki/Bobby_Flay