Tuesday, February 17, 2009

Entrepreneurial Offer of a Lifetime!

It doesn't matter how many times you fail. It doesn’t matter how many times
you almost get it right. No one is going to know or care about your
failures, and neither should you. All you have to do is learn from them and
those around you because... All that matters in business is that you get it
right once. Then everyone can tell you how lucky you are. MarkCuban

Truegswarrior Photobucket.com

Taking matters in to his own hands and money out of his own pocket, Mark Cuban, owner of the Dallas Mavericks NBA basketball team, is offering the opportunity of a lifetime. This week he unveiled his own economic stimulus idea, the "Mark Cuban Stimulus Plan - Open Source Funding." He opened up his blog, Blog Maverick (blogmaverick.com), to accept ideas for business plans from existing and start-up companies. Cuban, an entrepreneur himself, is controversial and, often, adversarial.

In 1983, Cuban co-founded Micro Solutions, a top National Systems Integrator. He later sold it to CompuServe. Next, the dot com guru was chanting Yahoo! when that company purchased Broadcast.com, which he also co-founded, for 5.7 billion dollars in stock. In 2000, he purchased the Dallas Mavericks basketball team. He slam dunked the basketball world in 2001 when he built his Mavs a new arena, the American Airlines Center. Combining hi-tech electronics with great architecture, the center has gained the notoriety of being one of the leading entertainment and sport venues in the country. That same year, he co-founded HDNet, an all high-definition television on DIRECTV. He is a master of start-up companies, benevolent and powerful.

Many people see Mark as not only financially successful, but also, successful as a role model for his team and his fans. He sits on the sidelines in the same seats he sat in before he was an owner. He has fostered a sense of pride, passion and loyalty among many of his team's fans. He is the first owner in the domain of team sports to use his personal computer to solicit fan communication via e-mail. He employs personal touches, like responding to his own e-mails and, not only listening to, but acting on, suggestions from fans. He allows the fans to view his lusty pursuit of life and dedication to the Mavericks. Cuban's take-it-to-the-limit style has everyone watching.

However, his style isn't the only thing they are watching. In the fall of 2008, the Securities and Exchange Commission charged him with insider trading for selling the stock of an Internet search engine company. He was also charged a $25,000 fine in January 2009 for walking on to the court during a basketball game and interacting with a player. The fine also included a penalty for, allegedly, unleashing a barrage of obscenities upon an official, which Cuban denies. Over the course of his time in the league, he has been assessed 14 penalties and three suspensions. Over 1.5 million dollars in cumulative fines have been assessed against him.

seanymoptop4141 Photobucket.com

Some think him the devil, some think him a saint. Some think him a role model, some think him a shame. Some think him a comb-over, piece wearing D..... Bag. Some think him a dynamic wonder. But no matter what you think of him, you cannot deny that he is a king in the realm of business. Cuban believes that entrepreneurship is one of the ways we will get out of our financial crisis. He believes that it is easier to talk about what the government should do with our money than to come up with a plan that would make a difference. A plan that one could, possibly come up with and, implement on their own. And in his own unique and unbranded way, he has thrown down the gauntlet, challenging others to post their business ideas and plans on his blog site. Maybe he has decided that it is a waste of resources to throw precious money after fines that will never give him a return on his investment. Maybe he has decided to slow his tirade train and put money into something other than his million dollar cuss fund. Maybe.

Mark is creating an environment for what he calls "open source funding." He has stipulated a number of rules, including that the proposition must be "cash flow break even within 60 days" and turning a profit in 90 days. By posting your plans, others will see and comment on them and, possibly, even steal them to use elsewhere. That is a chunk of his concept, to stimulate ideas, activity, and great gooey gobs of money. Mark Cuban unapologetically acknowledges that it may lead to something great or nothing at all. But, he is ready to invest HIS money, no minimum-no maximum, in the ideas he believes have the best chance at succeeding. Now, before you start thinking he is a complete philanthropist, read rule number 12. Your plan must include how he will receive a return on his investment. Which, in my opinion, is as it should be since he is taking the risk.

So, if you have a business proposal that just needs some swell funding to slap it on the rear to get it running, post it up. This is probably the only chance most of us will ever have to do business with a world class player. It won't cost you a cent! This is an absolutely free opportunity to have the man take a look-see over your project! At very least, stop by his site and read some of the other propositions. Maybe some one's vision will light yours. Some lucky leprechauns are going to receive magically nutritious financial help. Queue up to see if YOU can win one of Cuban's lucky charms!

Here, echoing much of the public sentiment about Mark Cuban, in his own words, is his synopsis of his offer:

"So here it is. Some people will love it, some will hate it. It is what it is."


Mrsupole said...

I went to the site and read a lot of it, but was not really understanding most of what was going on. It seemed to have a lot to do with basketball and high finance. Maybe my brain is not functioning right now. So will have to probably read things a few more times. This is a nice thing he is doing.

I thought it was great of him to do Dancing With The Stars, put himself out there and take a chance on failure. Gotta love him for doing that.

Ronda Laveen said...

Did you go to the post with 1000+ comments? That is the one where I found people putting plans up and asking questions.

Evening Light Writer said...

Very interesting post, I would have immediately lumped Cuban into the annoying d-bag category but you have to give him credit. Although I believe his money would have been better invested in a homeless shelter or soup kitchen, at least he's willing to invest in new business that may actually help someone!

Ronda Laveen said...

Evening Light: At least for him it is a huge step in the right direction. We can always hope he eventually finds his way to shelters and soup kitchens. Maybe when he grows up. For him that will probably about age 90.

Mrsupole said...


I do not have the link for 1000+ Comments. I looked and am not sure how to find it. Can you put post the link or the webpage address. Thanks.