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
What I do know, at least what I think I have learned from my experiences in business, is that when there is a rush for everyone to do the same thing, it becomes more difficult to do. Not easier. Harder.
If you've got $25,000, $50,000, $100,000, you're better off paying off any debt you have because that's a guaranteed return.
I'm a believer that you accomplish much, much more with direct relationships than by using an intermediary. And that cash you keep in the bank can be the difference between staying alive as a small business, or not.
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.
A sure sign of failure for a startup is when someone sends me logo-embroidered polo shirts. If your people are at shows and in public, it's okay to buy for your own employees, but if you really think people are going to wear your branded polo when they're out and about, you are mistaken and have no idea how to spend your money.
I love to compete. To me, business is the ultimate sport. It's always on. There is always someone trying to beat me.
Being rich is a good thing. Not just in the obvious sense of benefitting you and your family, but in the broader sense. Profits are not a zero sum game. The more you make, the more of a financial impact you can have.
I still work hard to know my business. I'm continuously looking for ways to improve all my companies, and I'm always selling. Always.
Work like there is someone working twenty-four hours a day to take it all away from you.
Because if you're prepared and you know what it takes, it's not a risk. You just have to figure out how to get there. There is always a way to get there.
It would be a little hypocritical of me. I don't care how they dress. I do care how they act.
The template for success in the NBA changed from the Portland model of 1999-2000, when I got to the league, to the Detroit, San Antonio, Miami model. Although we have succeeded on the court to the point of five straight 50-plus win seasons, we certainly didn't do it 'the best way.' We did it the most expensive way. It cost us flexibility and created lots of bad habits. That was my mistake, and it ended up costing us Mike (Finley).
Broadcast.com continues to prove that Internet broadcasting is the new medium for companies to interact with consumers, collect valuable customer data, and ultimately drive sales to their products.
The system allows us to look at every play, in every way, and to tie it back to stats. So, we can watch how we played every pick and roll, track our success rate and also see how other teams are doing it. It's an invaluable resource that makes us smarter when combined with a lot of advanced statistical analysis we do.