Wednesday, March 11, 2009

Mark Cuban's Personal Stimulus Plan

This is too interesting a story to pass up. Have you got a good idea for a business? Do you have a business already that's ready to go to the next level? Introducing Mark Cuban's personal Stimulus Plan. For those of you who don't know, Mark Cuban is the owner of the Dallas Mavericks, a thorn in the NBA's side (in a good way), and internet billionaire. He's one of my heroes, and you'll understand why if you hear his story. It doesn't mention his big Options play, but that was huge too - I'll write about that some other day...

Mark Cuban is running his own stimulus package. He is looking for interesting companies or start-ups (preference is on the established ones) to invest in. The rules are on the first link I posted, but basically you have to have a solid business plan and be willing to bare it all on his site. This way, we all can see what's going on and learn. I have had a great time reading through some of the ideas. He says he's received over 1,400 of them and read them all. I love this article, because it illustrates several key ideas that we all need to understand:
  1. The rich get richer because they take the time and let good deals come to them. Then they spend the time to make sure.
  2. Looking back, we will see this as one of the biggest opportunities of our lifetime. Sure many people will have a hard time, but many people will come out of these economic times much stronger.
  3. You get rich by creating value. Cuban will be richer at the end of this, but by helping other people become richer too.
  4. Wealth is not a zero-sum game. You can get rich without making other people poorer, and in fact most have. Many of our richest people have enriched the lives of thousands in the process of getting there themselves.
So let's take the lessons of Cuban and enrich those around us, creating our own prosperity on the way. And if you have an idea and post to his Stimulus Plan, put a link in the comments so we can all read about it.

Mine? I'm thinking...

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