We don’t need to introduce Mark Cuban, do we? Entrepreneur, investor, author, Texan, Dallas Mavericks owner, Shark Tank star—you know the drill. We threw seven quick questions to Cuban. Let’s see what he had to say.
1. You have the resources to locate anywhere in the world. What keeps you in Texas?
The people. The energy. The business climate. And of course my favorite basketball team.
2. What do you think caused you to go down the entrepreneurial path?
My parents always encouraged me to try new things, and more importantly, they were insistent that if I wanted something, I had to find a way to earn the money for it. That pushed me in the direction of selling everything and anything a little kid could.
3. What were the formative experiences that developed your management approach?
Lots of mistakes. Recognizing that if my vision wasn’t aligned with those of my employees and customers, nothing works. I have to add that management is a skill that requires constant developing. Managers have to be adaptive to what is happening—not just in their marketplace but also culturally. Any they have to always learn from their mistakes.
4. While the Mavericks are a private business, they operate very publicly. What advice do you have for CEOs who find themselves moving into the public limelight?
There is nothing like running a sports team. For any other CEO that finds themselves moving into the limelight—or wishing to move into the limelight—develop relationships with any and all media that impacts your industry. It could be a blogger and Instagram influencer or it could be a magazine.
Don’t wait for them to come to you. Go to them and let them know that your knowledge can help them create content and make them look better at their job.
5. You look at a lot of deals and visit with a lot of entrepreneurs. What are looking for to make you think they will be successful?
I want to see deals where my first reaction is “Why didn’t I think of that?” I want entrepreneurs who are agile. Always willing to learn. Always willing to sell. Always willing to connect with people and be nice. Nice is a very underrated skill.
6. Is there a part of business you wish you had spent more time learning about early in your career?
Video editing. It would be fun to be able to whip up any video anytime, so I don’t have to wait on others to get things done.
7. Is there a next act for Mark Cuban and what might it be?
I haven’t had my first act yet. Stay tuned.
The article was first published 2/20/20