Mark stresses that in any business the only thing that matters is the bottom line.  More so in running a major sports franchise, your team has to win because it has a trickling effect all the way down to the fans. Without wins fans have nothing to cheer for because they want to become a part of something.  Winning cures everything and finding out the formula for success in any business takes time. In any business endeavor you have to be committed, focused and put in 100% effort in order to have success.  More importantly Mark stresses to find out your strengths and find great people that compensate for your weaknesses.  More so he focuses on using transactional value to cash.  Stating to pay off all debts then look at your options.  By having no debt you are put in a better position, by paying everything in cash, you can always negotiate.  Mark also talks about investing in you, and looking at investments in startups compared to the stock market.

The second individual I would like to talk about is Daniel Snyder who is the current owner of the Washington Redskins, owner of Dick Clark productions, and investor in Red Zebra Broadcasting.  Snyder first made his mark in the business world when he and his sister Michelle founded a marketing company, Snyder Communications LP that focused on different faucets of marketing.  Eventually through mergers and acquisitions Snyder Communications was sold to a French Advertising and Marketing Group for $2 billion.

Upon reading various articles about Daniel Snyder, he discusses one must think outside the box and really look at different areas to capitalize in.  An example would be his Washington Redskins; beyond that what other revenues streams can organically come from this.  Is this through sponsorships, marketing, television etc.?  Investors want a thorough explanation of projections and how you are going to meet them.  By having a detailed game plan and keen sense of where the investor is coming from, can determine ultimately if you will receive financial backing at all.

Business Plans can be challenging and overwhelming but by clearly defining what your goals and plans are, can determine how successful your business starts off. More importantly learning from successful entrepreneurs and the mistakes they made can also cut the learning curve and future headache.  By implementing some tried and tested knowledge will prove dividends in the long run.