Using all the information he had been posting on his blog, Maverick and his years of experience, Mark Cuban wrote a book- How to win at the Sport of Business on how one can be successful in commercial undertakings.
Everyone wants to be successful, have a great career, a working business, and a way to make money. For most people, the issue of making money means earning more than just enough to pay the bills and get by. It means having more than enough for yourself and family and savings in your bank account. These are some of the reasons we will discuss the book below.
About How to Win At the Sport of Business
At 23 years, Mark did not have a bright future. He knew he wanted to be a successful business person, but he was not a great employee. Like most people his age, he focused more on having fun than developing a career. At this time, he had worked in places that he says were too embarrassing to add to his resume. He did jobs he loved and some that he had to force himself to be in because of the need to make money. Even so, his dream of being a successful man in the future pushed him into finding ways to make more, be ahead of everyone, and eventually, succeed in the sport of business.
Instead of fixating on his passion, he opened his eyes to the problems that he had to repair and found solutions for them. Once he had sold his company in 1990, he looked into the sports industry and found an issue that had to be solved. He found a way to live stream basketball matches. Nine years later, he bought an entire NBA team, which is not his sport and business. In his publication- How to Win at the Sport of Business, Cuban talks about how it is possible for anyone to turn failure into success with the right amount of patience, courage, and belief in one’s self.
"The sport of business is the ultimate competition. It’s 7 × 24 × 365 × forever."
7 Paths to Learn How to Win at the Sport of Business
There are eight key principles about how to win at the sport of business that can derive from Mark Cuban’s story of success.
1. Never Begin a Business Unless It Is Something You Love
The process of starting your own company is tough and long. The paperwork is just too much. Somewhere along the way, you might lose focus of what you want. After all, statistics show that more than half of all startups fail in the first year.
2. Have an Exit Strategy
If you are to learn how to win at the sport of business, you need to derive an exit strategy. Never go all in. Know that you have a backup plan in case what you want does not pan out the way you think it should.
3. Hire the Right People
Hiring staff, according to Cuban, is not always about who is qualified and who knows what. It is about finding a team that will have your back and who will love working there as much as you do or even more.
4. Learn How to Make Sales
Your company will become a success story if you know how to make sales. According to Cuban, a great sales person is not one who is talkative or a smooth talker. A great salesperson is one who has learned how to put themselves in the consumer’s shoe.
5. Know and Perfect Your Core Competencies
Get people on your team who have the same core competencies as you do. Outside these core competencies, consider finding people who fit your culture but whose services are inexpensive. That way, you will have a strong business foundation.
6. You Don’t Need an Office Coffee Machine to Get Work Done
There are 24 hours in a day. If people love what they do, they will find ways to get things done.
7. Make the Job Fun for Your Employees
It is said that, if people like what they do, they will never have to work a day in their lives. One of the reasons Cuban kept quitting is because he couldn’t find a place to work and have fun at the same time. Fun for the employees increases productivity. Productivity increases your profit margin.
Details about How to Win at the Sport of Business
About the Author
- The author of How to win at the Sport of Business, Mark Cuban was born on July 31, 1958.
- His first step into the world of business was at the age of 12 when he sold garbage bags to buy himself an expensive pair of basketball shoes.
- At 16, he would take Gazettes from Cleveland to Pittsburgh, thus taking advantage of the Pittsburgh post gazette strike.
- He did a variety of jobs, including bartending, party promoting, and disco dancing instructing.
- Mark completed his Bachelors of Science degree in management at the Kelley Schools of Business.
- He began his company, MicroSolutions, which he sold in 1990 for $6 million after taxes; he had made approximately $2 million.
- Today, he is a businessman, philanthropist, television personality, investor, and author.
- He is also the owner of NBA’s Dallas Mavericks and a co-owner of the 2929 entertainment. Mark is also is an investor on the popular ABC reality television series shark tank.
To the Read
Given his vast experience in businesses and the numerous times he tried and failed, Cuban gives sane and realistic advice on how possible it is for anyone to start a business provided they use the right strategy and learn how to enjoy their work. Having moved from a mare bartender to one of the most influential people in the world, his story is a lesson and inspiration.
Have you read the book? What are your thoughts about it? Feel free to comment and share!
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