Mark Cuban
Mark Cuban
Mark Cuban is an American businessman and investor. He is the owner of the NBA's Dallas Mavericks, Landmark Theatres, and Magnolia Pictures, and is the chairman of the HDTV cable network AXS TV. He is also a "shark" investor on the television series, Shark Tank. In 2011, Cuban wrote an e-book, How to Win at the Sport of Business, in which he chronicles his life experiences in business and sports...
NationalityAmerican
ProfessionEntrepreneur
Date of Birth31 July 1958
CityPittsburgh, PA
CountryUnited States of America
I look at my annual budgets for everything and anything, and I look to see where I can save the most money on those items. Saving 30% to 50% buying in bulk - replenishable items from toothpaste to soup, or whatever I use a lot of - is the best guaranteed return on investment you can get anywhere.
I'm not the type to pat myself on the back and all that, but somebody has to be lucky, right? When I got to Dallas, I was struggling - sleeping on the floor with six guys in a three-bedroom apartment. I used to drive around, look at the big houses, and imagine what it would be like to live there and use that as motivation.
Creating a close connection to those you do business with has its many risks, rewards and consequences. There are few things in business I have encountered that are more difficult than firing someone, particularly if that someone has always been, or has become a friend. On the flip side, I have been rewarded with many friends.
The one thing in life you can control is your effort. Are there any shortcuts in the beauty business? No. That was the first lesson I learned. You can't just rocket to the top.
The NBA is never just a business. It's always business. It's always personal. All good businesses are personal. The best businesses are very personal.
Always look for the fool in the deal. If you don't find one, it's you.
It doesn't matter how many times you fail. It doesn't matter how many times you almost get it right. No-one is going to know or care about your failures, and neither should you. All you have to do is learn from them and those around you. All that matters in business is that you get it right once. Then everyone can tell you how lucky you are.
Never follow your dreams. Follow your effort. It's not about what you can dream of. That's easy. It's about whether or not it's important enough to you to do the work to be ready to be successful in that business.
I think one of the biggest curses in the U.S. is that we have only two political parties.
The only thing any entrepreneur, salesperson or anyone in any position can control is their effort.
In the past people used to tell me to shut up a bit. But what I believe is to put out your opinion and let everyone else react. If I'm wrong I'm wrong. People are afraid to put out their opinions and get push back.
All that matters in business is that you get it right once. Then everyone can tell you how lucky you are.
The idea that growth equals profitability is a misconception. If you can't afford the financial or qualitative side of growth, it can just as easily put you out of business.
Open offices keep everyone in tune with what is going on and keep the energy up. If an employee is about privacy, show him or her how to use the lock on the bathroom.