In my last post I talked about Steve Ells and Mark Cuban and the key components they look for when negotiating a deal. I have noticed that both investors strongly believe in an organized business plan. They both agree that deals are usually turned down when they show lack of business plan. Mark Cuban believes that if a business plan is thoroughly thought out properly and execute on plan, the business should be a success. So I have been planning my business plan with cautious. Making sure everything makes sense and that they are no issues. Getting the business plan revised should always be an option.
Another key component Mark Cuban pointed out is how much the person looking for a loan is welling to pitch in to the plan. Mark Cuban thinks that if the individual seeking investment for a business, also invests his own money into the business, they will work harder and would be more dedicated to their business. I have not been saving anything for my business plan, so I would need and should start saving my launch money. When I do approach an investor, I will make sure I have a lump sum of cash to pitch in. This will bring ease to the investors and boost their confidence towards my business plan and I.
I believe the most important section of my business plan is the description of the business, for the investors to see. I think my plan is very unique and as soon as they read what my plan is they will be interested. There is a need for what my business plan is and no business is proving this need. There are over 6 million people with tattoos in the USA, but there is no dedicated school for it. Not yet at least.
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