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.
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