This month we started looking at tips on business success from top CEO’s. This week we’re looking at advice from the outspoken owner of the Dallas Mavericks, Mark Cuban. Mark Cuban started small, selling sets of garbage bags to earn money to buy basketball shoes at the age of 12, but he always thought bigger & better. He looked at each job as learning opportunity to get where he wanted to be. The leadership lessons from previous bosses helped him discover the type of boss he wanted to be, and his leadership has paved the way for many successful business ventures.
Leadership Lesson 1- Do the Work
“Sweat equity is the best equity there is.” In an article in Forbes magazine, written by Cuban himself, he talks about one of his former bosses who helped shape the type of leadership he wanted exude. This CEO tried hard to look and act the part of a CEO, but with a huge flaw: He never did the work. He never demonstrated the initiative to go out and sale. In other words he had no sweat equity in the business.
Leadership Lesson 2- Make the Effort
“In sports, the only thing you can truly control is effort. The same applies to business. The only thing any entrepreneur, salesperson or anyone in any position can control is their effort.” – How to Win at the Sport of Business. The behavior of others, in your industry, your clients and competitors is really out of your control so you can’t get frustrated. Focus on maximizing your efforts. Cuban stresses the importance of knowing more than anyone else in your industry. In other words read as much and as often as you can about the industry you want to be in.
Leadership Lesson 3 – Be the Best
“Treat your customers like they own you, because they do.” When Mark Cuban bought the Mavericks back in 2000 he wanted them to become a great team, but also wanted the fans to have a great experience. To do this he put himself in their shoes, in the stands, even the nose bleed section, in the bathrooms and concession lines. He caught games in a variety of locations, counting how many times vendors came by and how convenient the various amenities were. Cuban’s leadership style is what sets the tone for his employees and demands the best of everyone involved in his business.
Wanting to take your business’ success to the next level? Check out our awesome checklist to make sure you are ready to approach your investors. Click here or on the image below to learn more.