Life Lessons from Billionaire Mark Cuban

A lot can be learned from entrepreneur, owner of The Dallas Mavericks and panel member of Shark Tank, Mark Cuban, as exhibited in this article from daveramsey.com. Here is a brief synopsis of the article. 

This article, "3 Practical Lessons from Billionaire Mark Cuban", illustrates how Cuban cultivated his strong work ethic from a very young age and how his unwavering fortitude led him to become the success he is today. 

The article opens with a story of a young Mark Cuban, who asked his father for a new pair of basketball shoes. When his father told him no, and that he could get the new shoes when he got a job, Cuban secured his first job with the help of a family friend. He sold garbage bags door-to-door, and he soon fell in love with business. This taught Cuban a lesson which he took to heart; If you want something, you have to work for it. 

Ramsey highlights a few key inspirational lessons from his conversation with Cuban in this article. 

1. There's no reason it can't be you. Cuban talks about adversities he faced after completing college. He wasn't always successful; he tended bar, sold software, and even resorted to eating ketchup and mustard sandwiches at times. However, no matter how hard times got he never gave up...he just worked harder. Cuban says, " The one thing in life you can control is your effort.If you are willing to put in the effort to start the business and you are willing to deal with the challenges and the fact you might starve or live like a student . . . If you are willing to fight through those via effort and brain power, anything is possible. There is no reason it can’t be you.”

2. Selling ultimately comes down to connecting and serving. Through his endeavors, Cuban learned another valuable lesson; "If you can sell, you can accomplish just about anything." He also points out that selling is about making life easier for your customers, not about trying to push or convince them of something. He also stresses how important it is to connect with your customers.

3. Don't be a slave to the bank. Cuban is passionate about staying debt free, particularly concerning businesses. Surprisingly, he says that 99% of new business can be started without capital! “If you take a loan, you are no longer the boss,” Cuban says. “And your customers are no longer the bosses. Your banker is the boss. And if you hit any adversity, like every startup does, the priority becomes taking care of your banker . . . You’re no longer in a position to do whatever it takes to survive.”

Click the link above to read the whole article and to access links to the "EntreLeadership Podcast with Mark and Dave".