Mark Cuban offers to fund your small business
Filed under: Entrepreneurship
Mark Cuban wants the economy to recover just as much as you do, and he's putting his money where his mouth is.Right now you can apply for a piece of the Mark Cuban Stimulus Plan by sharing your business idea on his blog, where ideas that meet his criteria and are deemed worthy will receive funding. However, if you want to take part in the plan you won't be pitching to Mark Cuban in the corner of an upscale restaurant with only a bottle of scotch as your witness -- you have to share your entire business plan with the rest of the world!
That's right. In order to secure funding from Mr. Cuban, you have to post all the details of your business out there for the world to see, steal and improve. Cuban calls the process an "open source funding environment" and replication is exactly what he wants to accomplish with this project. Sharing the blueprint for a viable business for free can easily provide 10, 20, 100 times the impact on our economy that could be achieved with closed door private pitches, he says.
Right now there are 13 rules for potential businesses interested in applying for some of Mark Cuban's money. These rules are actually a good guide for anyone who wants to start a business, and as Seth Godin points out, even those people who don't get funding will be in a better place to start their business, since they've whittled it down to the necessities.
Not sure if you're ready to start your own business? Take a few days and read the "4 Hour Work week" by Timothy Ferriss. Aside from tempting you away from your office job with tales of the "New Rich," he goes into explicit detail on how to start your own low-maintenance business selling a product. If you have the motivation but lack an idea, there are an abundance of business ideas, 998 to be exact, compliments of Seth Godin's alternative MBA program.
The Mark Cuban Stimulus plan puts the power to change the economy into the hands of the people. I can't wait to see what happens as it gains speed. If I ever meet Mark I plan to buy him a drink, if only because of rule 13 -- No multi-level marketing programs! The last thing our economy needs is another recruitment based business.
For the rest of the rules and how to submit your idea, visit Cuban's Blog Maverick. And don't forget who tipped you to the funding when you're splitting up equity in your new company!



Reader Comments (Page 1 of 1)
2-13-2009 @ 11:50AM
Janet said...
Nice to see Mark opening up the purse strings. I am off to read the book and see what his stimulus package contains.
Thanks,
Janet
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2-13-2009 @ 2:54PM
Stacey said...
I will be submitting a 'guaranteed hit' that I've been contemplating for awhile now. Thanks for the info. and stay tuned for BIG CITY!
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2-15-2009 @ 12:10PM
cindy said...
Great idea. Need something typed? Maryland Secretarial Services, Inc.
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2-15-2009 @ 2:42PM
Samantha said...
I wouldn't do this, only because of the open sourcing. That means millions of people can steal someone else's original idea and make it their own. I think mistakes should be learned by the creator, not someone who is just looking to steal someone's idea to make a buck.
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2-17-2009 @ 5:37PM
Ian said...
The response to his post was amazing. It was difficult to sort through the comments though.
Here is a brand new social network that I created to accommodate this project:
www.diybailout.com
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2-27-2009 @ 3:50PM
cathy olivarez said...
Great blog! Have an idea on a business. Due to the fact that I just got laid off of work as of yesterday morning. Why not have a program that can actually help out people like me who got laid off of work. ex. like the show secret millionare. Where the person secretly disguises themselves as an ordinary worker. working as a blue collar, then actually finding someone to bless. creating a show with you in it would make a diffrence.
I know that thousands and even millions of people would watch the show. What better way than to make a impact on todays society.
thanks ,
sincerly
Cathy
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3-22-2009 @ 3:21PM
prudence said...
Where do I email my business plan could you foward it thanks
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3-21-2009 @ 5:25PM
Josh Smith said...
Click on the Mark Cuban Stimulus Plan link at the top of the page and you can follow the directions there to submit it.
3-22-2009 @ 9:25PM
prudence said...
Hi there
I cannot see the stimulu plan at the top notin says that could you please make it clear and simple as you know that am a 1st time user in this website. I really need to ask if dose he Cuban fund franchises and what to do and start up business that has started but need funds for improvement please assist urgently simple directions thats all I need.
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3-22-2009 @ 9:27PM
Josh Smith said...
Go here - http://blogmaverick.com/2009/02/09/the-mark-cuban-stimulus-plan-open-source-funding/
3-31-2009 @ 12:15PM
CHRIS THURSTON said...
I HEREABOUT SOMEONE TALKING ABOUT STIMULUS PLAN BUT IT NEVER COME TO PART I HAVE A GOOD BUSINESS PLAN YHAT WILL EMPLOY 10 PEOPLE NOW SO WILL ANYONE LISTEN
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4-03-2009 @ 12:32PM
Jack Mezzell said...
David Kay:
The appropriate place to send this comment below would be Mark Cuban's blog http://blogmaverick.com/2009/02/09/the-mark-cuban-stimulus-plan-open-source-funding/ and not DealBook.
Hope that helps.
My son was injuryed on the job on 2-13-08. He fell 20 ft from a ladder landing on his head while installing security cameras and was at Baylor Dallas Trama for 4 days. He cracked his skull from above the left ear around to the back of his head. He had paraylsis on left side of face. He still has loss of hearing on left ear and blurred vision of left eye.His job did not have workman comp insurance or any insurance to help him out. He is on disability because he is unable to hold down a normal job. He had been selling ATV's , dirt bikes, go carts, and dune buggies on Craig's list when he was working to help supplement his income since he has a family of 5. After the accident we decided to start up a company selling ATV's, go carts,, etc. since we had been helping as much as we could money wise and this would help him feel like he was doing something with his life. He was so depressed since he couldn't provide for his family.We started the company X-treme Machines Inc. We have used all the credit cards we have to get the company going. We were not able to get our license until 12-16-08 so that really hurt our sells in December. But from the 16th till the 24th we were able to sell about $10,000.00. Every thing we make goes back into the company to pay bills and inventory.There has been a couple of times my son took a draw from the company of $400.00 to help pay his bills ,but other than that he doesn't get a check nor do I, because the company can't affford it. We have tried to get loans from banks but they tell us we need to be in business for 2 years before we get a loan. We have been selling by buying 2-4 ATV's at a time as customers request, but we have a offer to go to North Forty Dirt Bikes races in March and June but we need the inventory to do this. At this time most of our customers are requesting bigger bikes and ATV's and we just are not able to get them. We show them pictures but they want to see the product. A customer told my son.about the Mark Cuban stimulus package and for us the write you to see if any way you could help us. I 'm not asking for you to give us the money. just if you can please help us get the loan so we can increase our inventory as needed . We also do repairs and everyday we have new customers. Please have faith in us as we have faith in ourself that someday this company will be a huge success story. Thank you, David Kay
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4-04-2009 @ 12:16PM
Deon Holmes said...
i think it's a great idea of Mark Cuban to go this route, in a recession our country is at it's best!
http://www.slideshare.net/NykelTechnSolutions.llc/slideshows
I feel it's not hard to create a business that employ 10 or employees, it's finding good help from people that is dedicated as employees and as passionate as you are. We believe if we're funded, our technology business concept in 5 yrs more than a few hundred will be employed in 2 states, TX and NC
Deon H.
Nykel Technology Solutions LLC.
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4-05-2009 @ 11:40AM
Deon Holmes said...
Hello Mark,
I think you have hit the nail on the head, I believe there will be a lot of buzz in the coming months from other investors seeking to do the same, hopefully we wont have to wait til then.
We’re a start up Co. that is at the funding stage, Our LLC is based out of Charlotte, NC. via Dallas TX. where I’m currently located, 7yrs ago we came up with an idea that sound pretty good, so before we threw up the confetti we had to make sure the idea wasnt already taken.
Just our luck we were ahead of the curb, as we were told by professionals, we had to wait until technology catches up. But as we all that are passionate about what we’re doing it’s hard to wait, but also it’s not easy getting rejected for funding when you really and truely believe what you have will work with the right amount of funding.
It’s now 09′ so we believe that our concept and business model is ready for the industry, we’re looking at a 5yr growth where it’s global in the 4th qtr of the second yr.
Nykel’s Concept is a completed business plan/5yr projections and assumptions (formula how we get our numbers) with supporting doc. we’ve use an existing content and created a new business model to make it dynamic for deployment and enjoyable for the consumers. “If interested contact us for the projections and formula.”
D. Holmes
Phone: 214.650.5832
email: nts_llc@yahoo.com
Nykel Technology Solutions LLC.
http://www.slideshare.net/NykelTechnSolutions.llc/nykel-technology-solutions-llc-for-marks-cuban-stimulus-plan-1248152
http://www.slideshare.net/NykelTechnSolutions.llc/nykel-technology-solutions-llc-for-marks-cuban-stimulus-plan-1249413
http://nykeltechnologysolutionsllc.wordpress.com/
Reply
4-05-2009 @ 11:42AM
Josh Smith said...
You need to send all your info to Mark, not post it here.
http://blogmaverick.com/2009/02/09/the-mark-cuban-stimulus-plan-open-source-funding/
4-10-2009 @ 11:14AM
Fred Scanlin said...
Dear Mr. Cuban:
I came across your stimulus plan on the internet and was intrigued by it as I have longed believed that the basic premise/concept upon which it is based could serve as the foundation for a 'venue' that has the potential to change the world if you believe as I do in the following premise: the singularly largest,and yet,for the most part,virtually untapped source of human potential existing in the world today(as well as the source for the potential solutions to almost every problem facing society today)is in the form of the limitless supply of GOOD IDEAS IN EVERY REALM IMAGINABLE that exists in the hearts,minds,souls and imaginations of millions of normal,average,'everyday' people in this country(and indeed, in the whole world)--a valuable human resource whose full potential will never be realized without the proper 'venue' in place to help them bring these ideas to fruition.
I am a 67 year old man who has tried his entire adult life to become a successful entrepreneur but haven't as yet received that success. One of the biggest reasons that I haven't succeeded as yet is in no small part due to the fact that I am a 'member' of a sizeable but unrecognized segment of the entrepreneurial community that possess the entrepreneurial spirit/mindset,but who,like myself,for LEGITIMATE REASONS beyond their control,lack many of the other key entrepreneurial traits/characteristics needed for success,AND/OR are possibly being forced to face,encounter or endure any number of possible negative situations,circumstances or obstacles that may hinder their entrepreneurial endeavors. There are many people who will say that these 'reasons' are simply excuses for failure,but the SUCCESS LIMITING power/influence of these LEGITIMATE REASONS can definitively be proven to be an absolute fact of life to anybody with an open mind.
Although I have many business 'ideas' that I believe have great potential(including one whose virtually unlimited benefits to every segment of society I have been trying to extol to the world for over 3 decades,but which,unfortunately has fallen upon unseeing eyes,unhearing ears and unthinking minds),most of them won't fit the criteria that you have set forth for this stimulous plan. I do have one business 'idea'however,that I believe might fit all of your criteria,and upon whose worth I will stake the worth of all of my other 'ideas',as well as the worth of everything else that I've ever believed in my life--which will include the validity of several dozen truths,principles,values and observations that I have painstakingly culled over my lifetime from the thousands of them that have come down through antiquity,and are timeless and eternal in the messages that they impart.
The following then is an 'executive summary' type of business plan for my proposed business venture. A more detailed explanation of it as well as a little bit more about myself and my proposed involvement in it can be seen at my simple,'no-frills' websitse at http://www.geocities.com/freddyentre65/nobles_stores.html
As for your equity share or percentage of this venture should you care to invest,I'll leave that up to you to decide what is a fair share depending on how much time,effort &/or money,if any,that you decide that you may want to invest in this venture. I'll split whatever my share of this venture may turn out to be with my friend and the guy who conceived and 'pioneered' this concept (even though he didn't want any part in it).. If you decide to invest you can be assured that I am ready ,willing and able to work 18 hours a day,7 days a week for minimum wage for however long it takes to get this venture on a solid course to success.
Even if it turns out that I don't benefit from this venture in any way whatsoever, I would still like to see it reach maximum success for the knowledge,satisfaction and vindication that it will provide me with, AS WELL AS,possibly being the key to opening up the door to endless new &/or unexplored entrepreneurial worlds for me to conquer and to win those entrepreneurial victories for mankind that I honestly feel that I was destined to win.
NOBLES NEIGHBORHOOD DISCOUNT CONVENIENCE STORES
A very wise proverb from antiquity succinctly says: "NO POWER ON EARTH CAN STOP AN IDEA WHOSE TIME HAS COME". Without exception,all of the current revelant economic indicators point to the fact that our society is on the verge of ushering in the birth of a new GLOBAL ECONOMIC MODEL,whose direct,indirect and 'ripple-down' effects,ramification,.manifestations,repurcussions,consequences and implications,will,by necessity,mandate that the American people will have to make certain changes in their current lifestyles,as well as make other concessions in areas of their lives that, up till now,they have simply taken for granted.
Every once in a while,FATE-as fickle and unpredictable as it can be at times-will sometimes crack a smile and bring to the attention of those who have the wisdom and insight to see it for the ground floor investment opportunity that it is,a business venture whose potentially possible magnitude puts it in the exclusive catagory of being one of those 'proverbial' EXCEPTIONS TO THE RULE as far as it possibly being well worth spending a little extra time,effort and money to carefully discern whether or not any possible obstacles or other negative aspects related too or associated with it,can be feasibly resolved or overcome in order to succcessfully pave the way for it to reach maximum success in the marketplace.
Having said that, never in modern history have the TIME,OPPORTUNITY AND ECONOMIC CONDITIONS ever concurrently come together in such perfect alignment as to VIRTUALLY GUARANTEE THE SUCCESS OF STARTING UP A WORLDWIDE CHAIN OF RETAIL STORES based on the concept/premise of a single retail store located in Rockford, Illinois. Dispite mediocre management and providing only 70% of the total amount of possible products and services that it could, this store, which goes by the name of NOBLES, has been so successful in the last 7 years selling NAME BRAND convenience store type products and services at prices 10-50% cheaper than they can be purchased anywhere else, that they can't seem to have a slow/bad day EVEN BY ACCIDENT, thereby, not only proving beyond the shadow of any reasonable doubt that it is an idea whose time has definitely come, but also one that well may be THE BIGGEST NO-BRAINER BUSINESS INVESTMENT OPPORTUNITY in the entire history of modern low-tech retailing!!!!
Although NOBLES, which is offering easily providable products and services, is the kind of store that, obviously, almost anybody in the world would welcome, the concept/premise upon which it is based has appearently eluded the best corporate minds in the world, as an extensive search of the internet has conclusively shown that there are NO OTHER STORES LIKE IN ON THE FACE OF THE EARTH!!! The complete abscence of a retail chain of stores like this one leaves a big empty void in this segment of the retail market that can be successfully exploited by someone with the wisdom and foresight to see it for the virtually unlimited ground floor opportunity that it is. Conservatively,there is a potential market worldwide to support 30-50 thousand stores of this kind with each doing in the vacinity of 2 million dollars a year in gross sales,thereby making this a potentially 50-100 billion dollar a year business!!!
Along with all of the other positive points/reasons for this being the right business concept at the exact perfect moment in time,there is a surge in a segment of the population possibly wanting to own/operate one of these stores in the thousands of people who have been offered 'buy-outs' in return for retiring early. Most of these people are too young to retire and are going to be looking for other avenues of employment until they get to retirement age--with their 'buy-out' money they could buy one of these stores and have a family owned business without the worries of being layed-off from a regular job.
Many new business ventures that are funded by outside investors(many of which are based on new&/or unproven ideas/concepts)can, in the end, for a host of different reasons, end up costing millions of dollars in funding in order for them to have a reasonable chance to become successful. I project that this one(taking into consideration the fact that the 7 YEAR SUCCESS of NOBLES proves beyond the the shadow of a reasonable doubt it's viability as a profitable enterprise)will cost in the vacinity of a relatively modest $300,000 to give it that same realistic/reasonable chance to become successful!!!!
Because I don't have all of the necessary business expertise to be the one in charge of taking these stores to a national/international level,some of this money will have to be used to acquire someone who is qualified,while another portion of this investment money will go toward setting up the required 'infrastructure' necessary to be able to franchise these stores nationally/internationally(although these stores could be 'company-owned',franchising them would be a much better,quicker and more efficient method in order to get a 'jump' on any competition that might enter the market when they see how successful we are). The rest of the money will go toward building(remodeling), equipping and stocking a single 'model store' on which all of the other units in the chain will be modeled after(the cost of remodeling these stores could cost an extra 50 thousand or more dollars per unit,depending on how modern,efficient and high tech you want this chain of stores to be). Having this 'model store' is an ABSOLUTE NECESSITY in order for perspective franchisees to be able to come from all over the country(and,indeed,from all over the world)to observe an actual existing store in operation in order to be able to properly decide/ascertain for themselves whether or not this might be the kind of business that they would like to become a part of. This is the relatively inexpensive,BUT VERY EFFECTIVE, route/approach that Ray Kroc took way back in the mid 1950's when he was just in the beginning stages of getting the McDonalds Corporation off the ground
Having said the above, with,once again, the number of people at an all time high who are getting a 'buy-out' package of some kind from their former employers, but are still too young to quit working and still need a way to support their families, I believe in my heart, mind, body and soul, that, with the PROPER LEADERSHIP, NOBLES, VIA THE FRANCHISE METHOD,can achieve, in less than a decade, the same kind of phenomenal success in their sector of the retail market, as it has taken WAL-MART 40 years to achieve in theirs --which in the light of our new GLOBAL ECONOMY will be a store that the public WON'T BE ABLE TO AFFORD NOT TO SHOP AT!!!!
If you think that this investment opportunity might be something that you &/or you company might be interested in, you can get a bettter idea of it, as well as just exactly what my involvement in it is at:
http://www.geocities.com/freddyentre65/nobles_stores.html
Thank you.
Sincerely Yours,
Frederick D. Scanlin
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