TEN REASONS WHY MARK CUBAN IS WORTH BILLIONS OF DOLLARS

10 REASONS WHY MARK CUBAN IS WORTH BILLIONS OF DOLLARS

Mark Cuban has successfully built and sold

multiple businesses over the years. He is worth an

estimated $2.5 billion after selling his business

“Broadcast.com” for $5.9 billion in Yahoo stock

and also is the owner of the Dallas Mavericks NBA

Basketball team, Landmark Theatres and

Magnolia Pictures.

Cuban is a self made billionaire and is a great

example of how you can construct a successful

business from the ground up.

Here are ten of the most important reasons why

Mark Cuban is a super successful entrepreneur.

What Makes Mark Cuban So Successful

1) Cuban Knows How To Sell

Mark Cuban has the saying “ sales cure all”. What

this means is that if a business is struggling the

real cause can invariably be traced back to a lack

of sales. Cuban said he learned this important

lesson when he was working for “Your Business

Software“. Cuban closed a deal for $15,000 that

he had been told by his CEO not to do. His boss was

furious and this deal ended Cubans job at the

company.

Cuban realized that although the CEO of the

company might be in charge he didn’t know how to

sell and that this was his weakness and could

possibly be one of Cubans newly found strengths.

2) He Is Good At Spotting Potential

When Mark was starting out with

“MircroSolutions” he once visited a business

called “PCDirect”. Talking to the young owner of

the business he was impressed by his vision and

talent. He told the young man that he thought

they were both going places. That young man was

Michael Dell, and Michael Dell’s future, well

became quite amazing as he earned billions and

secured a spot between the big boys Apple &

Microsoft in the market.

As a venture capitalist Cuban continues to look

for that potential for greatness and is even

featured on the Startup Investor TV Show on ABC

called Shark Tank , where he invests in new ideas

and ventures that he sees great potential in.

3) He Understands That He MUST Work Harder

Than The Next Guy

The one thing that you can control is your work

ethic and Mark makes sure that he is a beast in

his field. Cuban says that you need to know the

industry that you are in better than anyone else,

to study, live and breathe it.

Earlier in his career when he was first working

for MicroSolutions he was making around $60,000

a year. He was doing well but he wanted more.

Cuban says he dedicated himself to learning

everything he could so that he would be able to

get an edge over his competitors. More recently

Cuban says that he spends as much time as he can

reading everything and anything about the cable

industry. Cuban is always on the hunt to be the

expert in his industry.

He understands that persistence most definitely

pays off.

“Sweat equity is the most valuable

equity there is. Know your business and

industry better than anyone else in the

world. Love what you do or don’t do it.

– Mark Cuban

4) Mark Cuban Focuses On REAL Results

While Cuban strongly believes in the importance of

having a strong work ethic, he also suggests that

we need to focus where we direct our energy.

Working to produce real results is far more

important than working simply for the sake of it.

He is also skeptical about start-ups who waste

their money. He says if he receives too much

“swag” from a company then he is immediately

suspicious about how they are allocating their

resources.

5) He Is Always Looking For Long Term Business

Relationships

Cuban advises businesses not to be too focused on

squeezing the maximum profit out of a single deal

at the expense of the relationship with that

customer. Real value for a company is created by

maximizing the life time value of the customer.

As Cuban points out, business relationships are

built over years, not on a single deal.

6) He Always Learns On The Job

If you are willing to learn your job can pay you

twice.

– Firstly there is the money that you receive for

working your job.

– Secondly there is the knowledge that you gain

from working at your company.

This second form of payment is in Cubans opinion

the most important one. When Cuban first

started out working at “Your Business Software”

he was only making $18,000 a year. But more

importantly he was learning about the PC industry

and how to sell. It was this knowledge that would

allow him to build MicroSolutions into a company

that did $30 million in sales only a few years

later.

He took the risks when necessary and kept his

eyes on the prize ahead of him, he discovered that

he must always strive “to learn, create and

grow.”

“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. – Mark Cuban

7) Cuban Extends Himself To Get A Customer

Mark Cuban’s first customer was the $15,000

deal that lost him his job working at “Your

Business Software“. After losing his job he went

to the customer and asked if he could do the job

for him personally. The client agreed and it

launched MicroSolutions.

For his first clients Cuban would take no money

for providing the service, the client was only

charged for the software. Cuban did this because

he realized that customers only want to work

with you if you already have other customers and

a great reputation.

8) He Doesn’t Believe In Hierarchy

Mark Cuban keeps a careful eye out for people he

perceives as being “Empire Builders”.

These are senior executives who don’t want to

make sales calls and require lots of perks. He

believes in making the organizational structure

as flat as possible. He also says that open offices

work best and that executives should not be able

to lock themselves away.

9) He Builds Companies To Last

Mark believes that many entrepreneurs are too

focused on the idea of an exit strategy. He

believes that the best way to build a company that

will sell for a great price is to build a company

that is designed to last. He also remarks that if

you have your eyes on the exit then the company

is not enough of an obsession for you.

10) He Knows When To Sell

Mark Cuban built his businesses because of his

relentless sales drive and persistence, but he also

become a billionaire because he knew the best time

to sell. This has proven to be the key in many

industries, many times over. Cuban sold

Broadcast.com to Yahoo in 1999 for $5.9 billion in

stock. One year later following the dot com crash

the company’s value was worth a fraction of

that.

He cashed out when the deal was good and didn’t

hang on too long in hopes for a greedy

“more”. Know when to sell, and learn when to

walk away from something you feel does not do a

sale justice either. Mark has mastered this and it

has rewarded him dearly.

Mark Cuban is the definition of a hard working

entrepreneur who isn’t afraid to hustle. Learn

how to adopt some of his winning success traits

and you may have what it takes to build your own

fortune.

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