Maybe its because I am a Phoenix Suns fan, but I really did not like Mark Cuban. Other than not signing Steve Nash to an extension which allowed him to return to Phoenix, I never really follow much of his career. There was just something about him I didn’t like.
I think it first began to change when I listened to a Bill Simmons’ podcast that interviewed Mark Cuban, and for the first time I heard Mark Cuban the entrepreneur speak, and not Mark Cuban the “outspoken” owner of the Dallas Mavericks.
(The podcast is available on iTunes)
Mr. Cuban was asked what advice he would give to someone that was looking to get a job in Sports Marketing/Management and his answer shocked an auditorium full of sports marketing/management majors.
He told them to not take classes in sports marketing/management.
He said that teams are already filled with people that have this background, if you want to be successful you have to provide something else that no one else has.
Wow, I thought. That is phenomenal advice.
And I was hooked. He mentioned an ebook he wrote that was just published so I bought it. (It is actually a collection of blog posts that was organized into a book, which makes for a very quick and enjoyable read).
So how did Mr. Cuban become so wealthy in the first place? He took his own advice!
He did something that others were not willing to do. He read manuals! Lots of them. All the time.
His first job in sales was for a computer software company. He didn’t know much about them so he read all the manuals. Eventually he knew more than most anyone else in the business at a time when this knowledge became very valuable!
Now I am hooked! You can call me a Mark Cuban junkie at this point.
My wife and I now watch Shark Tank on a regular basis. When I first saw a commercial for the show I thought it looked pretty silly to be honest. Now I can’t get enough. If you can ignore the cheesy introduction, and the “characters” some of the “sharks” play, there is a lot of knowledge and fantastic advice that is provided. I would say 85% of it comes from Mr. Cuban himself!
Interested in business? Watch Shark Tank.
Have kids? Watch Shark Tank with them.
Work a lot? Record and watch Shark Tank.
Own several companies? Watch Shark Tank.
So what is Shark Tank? Its a show on ABC that has small business owners pitch their business model or product to the “sharks” and seek an investment for their company.
The “sharks” pick apart their products and ideas to the bare bones and either make an offer or pass.
When Mark Cuban talks, you need to listen. He knows what he is talking about.
What is so interesting are the times you think the person has a great product or idea, and then when you hear the “sharks” opinions you understand why they have the money in the first place. This is a very neat way to spend 40 minutes a week. (We record the shows and skip commercials…. Hour show with commercials)
Mr. Cuban is a rational investor. He invests in what he knows, and if he doesn’t know something he reads everything he can about it until he knows more than most. This is something that ANYONE can do, but only a few have. Mark Cuban is one of them.