Mark Cuban Business Lessons

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Mark Cuban Business Lessons

10 Great Business Lessons from Mark Cuban

By Brad Aronson   |   Posted in: Entrepreneurship, Featured
Mark Cuban

I recently finished Mark Cuban’s book, How to Win at the Sport of Business: If I Can Do It, You Can Do It, and loved it. Here are some highlights and quotes from the quick, interesting and funny read (not to mention it’s only $2.99).

1)    Learn to sell. In business you’re always selling – to your prospects, investors and employees. To be the best salesperson put yourself in the shoes of the person to whom you’re selling. Don’t sell your product. Solve their problems.

2)    Customers want to see that you have other customers. When Mark started MicroSolutions he did the work for his first customer free – only charging them the cost of the software. He called it his, “no money down approach to start a business.’”

3)    “Everyone has got the will to win; it’s only those with the will to prepare that do win.” Mark Cuban paraphrasing Bobby Knight.

4)    “Your customers can tell you the things that are broken and how they want to be made happy. Listen to them. Make them happy. But don’t rely on them to create the future road map for your product or service. That’s your job.”

5)    One thing we can all control is effort. Put in the time to become an expert in whatever you’re doing. It will give you an advantage because most people don’t do this.

6)    That being said, don’t get caught up in how many hours you work. Judge success based on having goals and measuring your results. Hard work, and lots of it, is certainly needed, but focus on what you get done. What do you need to do to deliver for your client? To land the next customer? To expand within your customers? . . .

7)     “Business happens over years and years. Value is measured in the total upside of a business relationship, not by how much you squeezed out in any one deal.”

8)    Great companies start without investors. He cites Apple, Dell and Microsoft as a few examples. Given that he’s a venture capitalist, and he’s recommending not to take venture money, it’s certainly worth trying to avoid. That’s probably not possible in some cases – but it makes sense if you can pull it off.

9)    “The beauty of success, whether it’s finding the girl of your dreams, the right job or financial success, is that it doesn’t matter how many times you have failed, you only have to be right once.”  And, “then everyone can tell you how lucky you are.”

10) “As I would learn later in life, money makes you extremely handsome.”

If you want more to read more advice from the Sharks on Shark Tank, check out 23 Killer Business Lessons from Shark Tank.

If you liked this post, you’ll also like, 11 Important Lessons from Teen Entrepreneurs.

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  • Pingback: Advice From Notable Entrepreneurs | Business Opportunity Hub

  • Ranjanraji

    Thanks. Points noted, and will be kept in mind!

  • http://facebook.com/profile.php?id=1313382644 Grigoriy Shchennikov

    Here are 6 great books for entrepreneurs according to Mark Cuban http://favobooks.com/enterpreneurs/48-mark-cuban.html

  • http://twitter.com/WebEminence WebEminence

    My favorite is “you only have to be right once” Mark said that on Shark Tank this week and it made me think.

    • Brad Aronson

      I love this one too. Thanks for the comment.

  • Pingback: Mark Cuban - How to Win at the Sport of Business | Raised By Lions

  • http://www.houstonallstarweekend.com Houston All Star Weekend

    Money makes you extremely handsome best one ever!

    • http://www.bradaronson.com/about/ Brad Aronson

      He is certainly pretty funny. Thanks for the comment.

  • Pingback: Shark Tank - 23 Killer Business Lessons

  • David @ Green marker

    Great life lessons and business lessons. Thanks

    • http://www.bradaronson.com/about/ Brad Aronson

      Thank you for the comment.

  • Ruth Roberts

    Loved this. He just forgot his point about a touch of ‘luck’, too. Look at how the biker ladies from tonight worked out! Although, he personally stayed away from that deal.

    • http://www.bradaronson.com/about/ Brad Aronson

      Great point Ruth. Getting ahead does take luck as well as everything else. Thanks for the post.

  • Pingback: 23 Killer Business Lessons From Shark Tank

  • Ron Spring

    Great points. #4 is particularly interesting to me. While it is so important to get feedback from customers (and employees), it is so likewise important to remember that their feedback comes from their particular perspectives and may not take the entire picture of your business into account.

    • http://www.bradaronson.com/about/ Brad Aronson

      Great point. Thanks for the comment, Ron.

  • http://Www.ehealthcaresolutions.com R.J. Lewis

    Cuban is great on Sharktank too! Nice summary Brad. I particularly like point #10. It’s funny how that happens.

    • http://www.bradaronson.com/about/ Brad Aronson

      He probably could have finished that line with “to the wrong people.” Thanks for the comment.

  • Pingback: 10 grandes Lecciones de negocios por Mark Cuban | El blog de David Chávez s

  • http://davidchavezs.net/ David chavez s

    excellent article, I share in my blog

    • http://www.bradaronson.com/about/ Brad Aronson

      Hi David, Thanks for including me in your blog. Reading it was good practice for my limited Spanish speaking skills.

  • joe

    He makes some very good points. He’s concise and his suggestions can be easily followed with little effort.

  • Katy Friedland

    I am always amazed by how little effort some people put into achieving their goals. I just finished interviewing 60 college and grad students for a museum summer internship program. So many students forget to put the effort into editing their emails, dressing professionally, having prepared interview questions- no matter how impressive people are on paper, it is the effort they put into details that really makes the superstars shine.

    • http://www.bradaronson.com/about/ Brad Aronson

      Good point. Their attention to the details during the interview process is a good reflection of how closely they’ll pay attention to the details after they’re hired. Thanks for the comment.

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