I Chilly-Emailed Mark Cuban About My Firm and Bought a $1 Million Funding. This is How I Did It

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As soon as upon a time, there was a younger and scrappy entrepreneur who despatched an e mail to a well-known billionaire he didn’t know and ended up getting a $1 million funding.

This isn’t a fairy story; it’s what occurred after I sat at my desk one night and determined to take a shot and e mail Mark Cuban. I’ve all the time admired his concepts and his strategy to enterprise, and I assumed he’d respect my startup, SAVRpak, which helps preserve takeout, packaged meals and produce more energizing for longer. So I discovered his tackle, dropped him a word, and forgot all about it, pondering there was little-to-no probability the person who stars on ’s  and owns the Dallas Mavericks would rush to reply my e mail.

A couple of hours later, whereas cooking dinner for some associates, I pulled out my cellphone to test one thing and, by pressure of behavior, took a fast have a look at my inbox. And there it was. A reply from Mark Cuban. It was just some phrases lengthy, however I didn’t care; it was an invite to an engagement, an engagement that, in my case, ended with Cuban changing into my investor.

I’ll be sincere: If this wasn’t my story, and if I had heard the very story I’m telling you now, I’d’ve dismissed it as a one-off, some loopy fantasy that by no means actually occurs in the true world to guys like me. However having lived by means of this thrilling and deeply instructive expertise, enable me to supply 5 items of recommendation on the way you, too, can take the kind of initiative that may finish with a really well-known investor and a really massive test within the financial institution.

Take the prospect!

It’d sound apparent, however it’s not. Anybody trying over my shoulder as I drafted that preliminary word to Cuban may need very nicely suggested me to not waste my time. Such a critic would possibly’ve famous that cold-emailing superstar billionaires is hardly probably the most prudent and logical strategy, and such a critic would’ve been proper. However enterprise, like life, isn’t all the time rational, and typically simply leaping proper in and making an ask defies logic and rewards the daring. So, because the previous and clever slogan goes, simply do it.

Associated: Black-Owned Vegan Burger Model Lands $300,000 Funding on ‘Shark Tank’; Reached Six-Determine Revenues Inside 24 Hours

Deal with it like a sport

The right way to do it, nonetheless, is a wholly totally different query, one which I can reply with nice pleasure: Deal with it like a sport. There’s a purpose why so many enterprise persons are keen on utilizing athletic metaphor, like saying a deal is a house run or that the negotiations are on the five-yard line. It’s as a result of capitalism, like sport, is, at its finest, a respectful and rule-bound, but playful and muscular competitors. My dialog with Cuban is a working example: One or two emails into our conversations, the famously outspoken investor tried to rattle my confidence by dismissing the potential price of my enterprise. I remained well mannered, after all — you’d be silly to not when speaking to a person who is aware of a factor or two about enterprise — however shot again with my very own reply, which not solely delivered info and figures I assumed Cuban ought to know but in addition confirmed him that I can play the sport.

Associated: The Surprising 4-Letter Phrase Mark Cuban Uttered on the Set of Shark Tank

Have a dialog

This leads me to my third level: When participating a high-profile potential investor, you’re not likely pitching; you’re having a dialog. As soon as Cuban was satisfied that I used to be somebody who knew his enterprise and had the wherewithal to face his floor and champion his personal trigger, he requested glorious and insightful questions and made nice ideas that I fortunately adopted. I didn’t simply attempt to promote him on my firm; I listened, and this engagement is what took our trade from a random back-and-forth on-line to an actual and fruitful enterprise relationship.

In fact, in enterprise, like in, say, courting, you’ll be able to hardly get very far except you might have a fairly good thought of what the opposite facet likes. Earlier than writing Cuban that first word, I spent a very good little bit of time studying up on him and getting a very good sense of how he approached deal-making. I realized how he appreciated to speak and what he thought of to be an utter waste of time, which helped me hit the best notes early and make our interplay a significant one.

Associated: 13 Million-Greenback Companies That Turned Down ‘Shark Tank’ Offers

Have enjoyable

Once more, like courting, be sure everyone seems to be having enjoyable. For instance, when Cuban wrote and tweaked me by suggesting that my firm wasn’t price as a lot as I believed, I didn’t reply with an indignant missive or a spreadsheet dense with numbers. I simply despatched him a tragic face earlier than writing again a brief and well mannered response stating my opinion. That foolish little gesture isn’t the kind of tactic they train you at enterprise faculty, however it advised Cuban loads about me and the way I strategy life, exhibiting him that I am critical about enterprise but in addition a down-to-earth man who isn’t above a little bit of banter when the event requires it. That is precisely the kind of realness that strikes a relationship ahead quick, even — or particularly — when the particular person you’re making an attempt to courtroom is likely one of the world’s busiest and most sought-after traders.

Comply with these classes, and also you would possibly not land a enterprise companion of Cuban’s caliber, however I assure you’ll do a lot, a lot better than you’d have in any other case. Belief me: For those who take probabilities and have enjoyable, do your work and stand your floor, have interaction and educate and enchant, you, too, may have your fortunately ever after. 

Associated: The One Investing Tip From Billionaire Mark Cuban That is Good For Entrepreneurs

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