If you are planning to start up a new business in the sports
industry, pitching angel investors is a great option to kick-start your
business. Mark Cuban and Chris Sacca can
be considered as great angel investors for the sports industry.
Why are they appropriate
angel investors for the sports industry?
Mark Cuban
 |
| Photo from Forbes |
Mark Cuban is the
owner of an NBA team: Dallas Mavericks as well as the founder of Broadcast.com,
HDNet, and some other companies. Additionally, he has been an angel investor,
and he had invested for Goowy, Boxnet.com, etc. Therefore, he is actually working in the
sports industry, and he has knowledge and experiences in the sports industry.
 |
| Photo from Lowercase Capital |
On the other hand, Chris
Sacca does not own any sports team, but he is helping Tony Hawk Foundation to
help younger ages’ development through skateboarding. Therefore, he is not alien to the sports
industry. He used to be Head of Special Initiatives at Google, Inc. And then, He
established an investment firm, Lowercase Capital. Their significant investment
is Twitter, Inc. Chris has consulted business plans about web and mobile
technologies by himself as well as consulted other fields’ business plan
through Lowercase Capital.
What do they want to
hear from your pitch?
Mark Cuban
- What the unique points of the product
- How it can make profit.
- Whether the product is in his area
He mentioned that the
first paragraph of the business plan is important because if the business plan does
not have these three components, he will not read rest of the plan. He also
mentioned that he does not want to hear about personal information because it
does not relate to the business plan. He wants to know more about products if
he can make more money from them.
Chris Sacca
- Your target
- What problem you are solving
These two key
components are listed on the Lowercase Capital’s website. He explains why these
elements are important to decide investing a company in an interview. Chris
wants to know if he can help the venture business. Different from Cuban, he
wants to know more personal information. He likes to work with people whom he
likes or he is interested in.
Foundation 07 // Chris Sacca from Kevin Rose on Vimeo.
Cuban and Sacca have different point of views on of the entrepreneurs. Cuban focuses more on money, but Sacca wants to invest whom he likes. However, the most important elements of pitching a business plan to them are clarifying what you want to do, and how both of angel investors can help you. Therefore, If you are planning to pitch angel investors for sports industry, you have to make a business plan that is simple but clear enough about your intentions.
2 comments:
As you know Rob, I'm a huge fan of your work. I just published a previously private analysis of your data showing how extreme levels of diversification wouyld make it _extremely_ likely for angel investors to make money. Angel Investors
Thanks for sharing the great post.
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