Looking back on his life, billionaire âShark Tankâ investor Mark Cuban wishes heâd done his own dishes â even the pots and pans with tough stains and baked-on food. To be fair, I donât know this for a fact. But today, Iâll tell you: The reason I suspect he feels this way. How his no-dishes [â¦] You're receiving this email as part of your subscription to Crowdability. [Unsubscribe here](. [Crowdability Editorial]( [feature] Mark Cuban Doesnât Do Dishes â And Misses Out on 250x Gains Matthew Milner Looking back on his life, billionaire âShark Tankâ investor Mark Cuban wishes heâd done his own dishes â even the pots and pans with tough stains and baked-on food. To be fair, I donât know this for a fact. But today, Iâll tell you: - The reason I suspect he feels this way. - How his no-dishes policy led him to miss out on 250x gains. - How to put yourself in position to potentially make even more than 250x your money. Letâs dive in. âIf You Like the Store, Youâll Love the Stockâ To set the stage here, let me tell you about an investor named Peter Lynch. Lynch is the legendary money manager who ran Fidelityâs Magellan Fund from 1977 until he retired in 1990. When he started managing the fund, it had $18 million in assets. When he retired, it had over $14 billion. His 29% annual returns make him one of the most successful money managers ever. He attributes his success to a small number of core investment principles â including this one: âIf you like the store, youâll love the stock.â You see, Lynch was adamant that individual investors like you could outperform âprofessionalâ money managers. All they had to do, he said, was to buy the stock of companies they knew, liked, and were customers of. His logic was that customers had true insights into brands and products â the kind of insights that couldnât be detected by an analyst who sat at a desk all day reading financial statements. And thatâs what leads us back to the Mark Cuban story⦠Scrub Daddy As you likely know, Cuban is one of the âsharksâ on the hit investment TV show, âShark Tank.â A few years ago, an entrepreneur named Aaron Krause stepped onto the âShark Tankâ stage with a sponge he called the Scrub Daddy. His sponge would change texture based on water temperature. In warm water, it would be soft, perfect for gentle scrubbing. And in cold water, it would be hard, which is good for tough, baked-on stains. Mark Cuban raised his eyebrows. A sponge? Aaron provided more details. His sponge had been lab-tested. It resisted odors for two weeks. And its ergonomic shape had been designed to clean both sides of kitchen utensils at the same time. Cuban frowned, scratched his head, and passed on the investment opportunity. So did most of the other wealthy sharks. But one shark, Lori Greiner, was intrigued. Perhaps she did her own dishes, so she understood the simple genius â and vast potential â of the Scrub Daddy. Lori invested $200,000 for a 20% stake in the company, which valued the company at $1 million. Can you guess what happened next? 250x Returns Today, Scrub Daddy brings in more than $100 million in sales per year. The brand is now worth more than $250 million. Thatâs more than a quarter of a billion dollars. That means Loriâs $200,000 investment is now worth â wait for it â $50 million. How did she do it? How did she have the confidence to make this investment? Simple. She understood Peter Lynchâs principle: âIf you like the store, youâll love the stock.â In other words, she invested in a product that she understood. Get Smart about Startup Investing If you enjoyed learning this simple investment lesson, and youâre looking for other ways to get smart about investing in startups, check out our free resources. For example, you can [download our â10 Commandments of Crowdfund Investingâ report »]( Also be sure to check out our free âTips from the Prosâ whitepaper, where we interview five of New Yorkâs top venture capitalists to discover how they succeed at startup investing. Youâll find it on the same page. Happy investing. Best Regards,
[Matthew Milner]
Matthew Milner
Founder
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