How to Win at the Sport of Business by Mark Cuban Flashcards Preview

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Flashcards in How to Win at the Sport of Business by Mark Cuban Deck (88):
1

In every job, I would justify it in my mind, whether I loved it or hated it, that I was getting paid to learn and every experience would be of value when I figured out what I wanted to do when I grew up.

How to Win at the Sport of Business by Mark Cuban

2

Fired. Not the first time it’s happened, but it reinforced what I already knew: I’m a terrible employee.

How to Win at the Sport of Business by Mark Cuban

3

You never quite know in business if what you are doing is the right or wrong thing. Unfortunately, by the time you know the answer, someone has beaten you to it and you are out of business.

How to Win at the Sport of Business by Mark Cuban

4

I used to tell myself that it was okay to make little mistakes as long as I didn’t make the big ones.

How to Win at the Sport of Business by Mark Cuban

5

Most people won’t put in the time to get a knowledge advantage.

How to Win at the Sport of Business by Mark Cuban

6

my wife hates that I read more than three hours almost every day, but it gives me a level of comfort and confidence in my businesses.

How to Win at the Sport of Business by Mark Cuban

7

Lesson #1: Always ask yourself how someone could preempt your products or service. How can they put you out of business? Is it price? Is it service? Is it ease of use? No product is perfect and if there are good competitors in your market, they will figure out how to abuse you. It’s always better if you are honest with yourself and anticipate where the problems will co​me from.

How to Win at the Sport of Business by Mark Cuban

8

Lesson #2: Always run your business like you are going to be competing with biggest technology companies in your industry—Google, Facebook, Oracle, Microsoft, whomever.

How to Win at the Sport of Business by Mark Cuban

9

I ask myself every week what I would do if they entered any of my businesses. If you are ready to compete with the big guys, you are ready to compete with anyone else.

How to Win at the Sport of Business by Mark Cuban

10

These days, my mind knows what to do, but my body just laughs at me.

How to Win at the Sport of Business by Mark Cuban

11

The sport of business isn’t divided into games. It’s not defined by practices. It doesn’t have set rules that everyone plays by.

How to Win at the Sport of Business by Mark Cuban

12

That’s what makes business such an amazing sport. Everyone plays it. Everyone talks about how good he or she is or will be at it. Just a small percentage are.

How to Win at the Sport of Business by Mark Cuban

13

I’m fortunate. I have done well enough financially that I don’t have to play 24 × 7 × 365. I can and have cut back to 18 × 7 × 365. Family first, now. But in those eighteen hours, you can bet I’m competing and loving it.

How to Win at the Sport of Business by Mark Cuban

14

The One Thing in Life You Can Control: Effort

How to Win at the Sport of Business by Mark Cuban

15

In sports, the only thing a player 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 by Mark Cuban

16

It meant making sure that every hour of the day that I could contact a customer was selling time, and when customers were sleeping, I was doing things that prepared me to make more sales and to make my company better.

How to Win at the Sport of Business by Mark Cuban

17

I had to make sure I wasn’t lying to myself about how hard I was working.

How to Win at the Sport of Business by Mark Cuban

18

It would have been easy to judge effort by how many hours a day passed while I was at work. That’s the worst way to measure effort. Effort is measured by setting goals and getting results.

How to Win at the Sport of Business by Mark Cuban

19

The one requirement for success in our business lives is effort. Either you make the commitment to get results or you don’t.

How to Win at the Sport of Business by Mark Cuban

20

You are still in school. You don’t need to have all the answers or focus on one thing. You should be trying a lot of things until you find the one thing you really love to do and are good at. When that happens, you will be able to focus.

How to Win at the Sport of Business by Mark Cuban

21

Being focused at 21 is way overrated. Now is the time to screw up, to try as many different things as you can and just maybe figure things out. The thing you do need to do is learn. Learn accounting. Learn finance. Learn statistics. Learn as much as you can about business. Read biographies about businesspeople. You don’t have to focus on one thing, but you have to create a base of knowledge so you are ready when it’s time. You never know when that time will come. But you can be ready when it does.

How to Win at the Sport of Business by Mark Cuban

22

Do we know what we are destined to be or do we find out through experience?

How to Win at the Sport of Business by Mark Cuban

23

I don’t think people “know” what they are destined to be until they try it for the first couple of times.

How to Win at the Sport of Business by Mark Cuban

24

Going to college should be about experiencing as much academically as you possibly can, but more importantly, it should be about learning how to learn and recognizing that learning is a lifelong endeavor. School isn’t the end of the learning process, it’s purely a training ground and beginning.

How to Win at the Sport of Business by Mark Cuban

25

The greatest obstacle to destiny is debt, both personal and financial. The more people you are obligated to, the harder it is to focus on yourself and figure things out.

How to Win at the Sport of Business by Mark Cuban

26

If you aren’t happy with where you are, simplify your life and go out and try as many things as it takes to find what you may be destined to be.

How to Win at the Sport of Business by Mark Cuban

27

No one is going to know or care about your failures, and neither should you.

How to Win at the Sport of Business by Mark Cuban

28

“Everyone has got the will to win; it’s only those with the will to prepare that do win.”

How to Win at the Sport of Business by Mark Cuban

29

Entrepreneurs have to be brutally honest with themselves and recognize where they have added value and where they have gone along for the ride.

How to Win at the Sport of Business by Mark Cuban

30

Win the battles you are in before you take on new battles

How to Win at the Sport of Business by Mark Cuban

31

I’ve learned to hire people in whom I can build trust, and let them take the ball and run with it.

How to Win at the Sport of Business by Mark Cuban

32

If you are the main engine behind your company, taking on new challenges will only dilute your ability to win the wars you are in and increase the risk of injuring your primary business or core competencies.

How to Win at the Sport of Business by Mark Cuban

33

If we were dominating in our core revenue lines, I could easily be the biggest proponent of an international NBA effort

How to Win at the Sport of Business by Mark Cuban

34

needs to find someone who can lead and win each of the battles. Trying to use one person as the leader for both is a huge mistake that is not worth the risk it exposes us to.

How to Win at the Sport of Business by Mark Cuban

35

Win the battles you are in first, then worry about expansion internationally or into new businesses. You do not have unlimited time and/or attention. You may work 24 hours a day, but those 24 hours spent winning your core business will pay off far more. It might cost you some longer-term upside, but it will allow you to be the best business you can be. To use a sports metaphor, get the fundamentals right and then add to your base skills before you try to take on the trick shots.

How to Win at the Sport of Business by Mark Cuban

36

As an entrepreneur you have to know what the core competencies of your business are and make sure that your company focuses on being the absolute best it can be at executing them.

How to Win at the Sport of Business by Mark Cuban

37

If you are adding new things when your core businesses are struggling rather than facing the challenge, you are either running away or giving up. Rarely is either good for a business. In fact, by chasing these opportunities, you may be assuring that you drown in them.

How to Win at the Sport of Business by Mark Cuban

38

“The worst evaluator of talent is a player trying to evaluate himself.”

How to Win at the Sport of Business by Mark Cuban

39

We tend to be less than honest with ourselves about our strengths and weaknesses.

How to Win at the Sport of Business by Mark Cuban

40

Once I could put the idea on paper, I gave the company a name. From there, I took the most important step: I tried to find people to shoot holes in the name.

How to Win at the Sport of Business by Mark Cuban

41

Far more often than not, raising cash is the biggest mistake you can make.

How to Win at the Sport of Business by Mark Cuban

42

The minute you ask for money, you are playing in their game—they aren’t playing in yours. You are at a huge disadvantage, and it’s only going to get worse if you take their money. The minute you take money, the leverage completely flips to the investor. They control the destiny of your dreams, not you.

How to Win at the Sport of Business by Mark Cuban

43

There are only two reasonable sources of capital for startup entrepreneurs: your own pocket and your customers’ pockets.

How to Win at the Sport of Business by Mark Cuban

44

You shouldn’t have to take money from anyone. Businesses don’t have to start big.

How to Win at the Sport of Business by Mark Cuban

45

“Treat your customers like they own you. Because they do.” “You have to re-earn your customers business every day.”

How to Win at the Sport of Business by Mark Cuban

46

I personally think that the only way you can connect to your customers is to put yourself in their shoes.

How to Win at the Sport of Business by Mark Cuban

47

The best focus groups are your customers telling you what they think. No company is perfect, but the CEO who doesn’t listen to direct feedback from customers will not take the company as far as it can go.

How to Win at the Sport of Business by Mark Cuban

48

Whining is the first step toward change. It’s the moment when you realize something is very wrong and that you have to take the initiative to do something about it.

How to Win at the Sport of Business by Mark Cuban

49

It was Aaron Spelling, I believe, who said, “TV is the path of least resistance from complete boredom.” Which is another way of saying that it’s easier to watch TV than to sit there and do nothing.

How to Win at the Sport of Business by Mark Cuban

50

In business, one of the challenges is making sure that your product is the easiest to experience and to sell.

How to Win at the Sport of Business by Mark Cuban

51

Make your product easier to buy than your competition, or you will find your customers buying from them, not you.

How to Win at the Sport of Business by Mark Cuban

52

If you can sell, you can get a job—anywhere, anytime

How to Win at the Sport of Business by Mark Cuban

53

The best salespeople are the ones who put themselves in their customer’s shoes and provide a solution that makes the customer happy.

How to Win at the Sport of Business by Mark Cuban

54

The best salesperson is the one the customer trusts and never has to question.

How to Win at the Sport of Business by Mark Cuban

55

The best salesperson is the one who knows that with every cold call made, he is closer to helping someone.

How to Win at the Sport of Business by Mark Cuban

56

The best salesperson is the one who takes immense satisfaction from the satisfaction her customer gets.

How to Win at the Sport of Business by Mark Cuban

57

The best salesperson is the one who wakes up early every morning excited to come to the office, get on the phone and let people know exactly why he loves his product, job and clients.

How to Win at the Sport of Business by Mark Cuban

58

The more you push someone who has said no, the more likely you are to appear desperate, and that desperation impacts your brand as a salesperson and the brand of the product.

How to Win at the Sport of Business by Mark Cuban

59

It is very, very easy to send someone an email every day or even hour. That is what a lazy person is going to do: spend all of two seconds hitting the resend button. A smart, focused and successful salesperson will gear up and do the homework necessary to find their next customer. That is a sign of confidence.

How to Win at the Sport of Business by Mark Cuban

60

Recognize that it’s okay to live like a student

How to Win at the Sport of Business by Mark Cuban

61

Your biggest enemies are your bills. The more you owe, the more you stress. The more you stress over bills, the more difficult it is to focus on your goals. More importantly, if you set your monthly income requirements too high, you eliminate a significant number of opportunities. The cheaper you can live, the greater your options. Remember that.

How to Win at the Sport of Business by Mark Cuban

62

Once you have found out what you love to do, there is only one goal: to be the best in the world at it.

How to Win at the Sport of Business by Mark Cuban

63

So rather than trying to convince people you are the best, let the quality of your work do the talking.

How to Win at the Sport of Business by Mark Cuban

64

asked its customers what they wanted in the product. Of course the customer responded with the features that they now loved from the other product.

How to Win at the Sport of Business by Mark Cuban

65

part of every entrepreneur’s job is to invent the future.

How to Win at the Sport of Business by Mark Cuban

66

Don’t start a company unless it’s an obsession and something you love.

How to Win at the Sport of Business by Mark Cuban

67

If you have an exit strategy, it’s not an obsession.

How to Win at the Sport of Business by Mark Cuban

68

Hire people who you think will love working there.

How to Win at the Sport of Business by Mark Cuban

69

Sales Cure All. Know how your company will make money and how you will actually make sales.

How to Win at the Sport of Business by Mark Cuban

70

Know your core competencies and focus on being great at them. Pay up for people in your core competencies. Get the best. Outside the core competencies, hire people that fit your culture but are cheap.

How to Win at the Sport of Business by Mark Cuban

71

There are 24 hours in a day, and if people like their jobs, they will find ways to use as much of it as possible to do their jobs.

How to Win at the Sport of Business by Mark Cuban

72

It’s a startup, there are just a few employees. Let people use what they know.

How to Win at the Sport of Business by Mark Cuban

73

Keep the organization flat.

How to Win at the Sport of Business by Mark Cuban

74

NEVER EVER EVER buy swag.

How to Win at the Sport of Business by Mark Cuban

75

NEVER EVER EVER hire a PR firm.

How to Win at the Sport of Business by Mark Cuban

76

Make the job fun for employees. Keep a pulse on the stress levels and accomplishments of your people and reward them.

How to Win at the Sport of Business by Mark Cuban

77

Time is more valuable than money You have to learn how to use time wisely and be productive. How wisely you use your time will have far more impact on your life and success than any amount of money.

How to Win at the Sport of Business by Mark Cuban

78

No one gets to the top on their own, and I believe we all should be able to make those around us smile.

How to Win at the Sport of Business by Mark Cuban

79

Once you are prepared and you think you have every angle of preparation covered, you have to go for it. No balls, no babies.

How to Win at the Sport of Business by Mark Cuban

80

I went seven years without a vacation, but I sure managed to have fun. You have to find ways to blow off steam so you don’t blow a gasket.

How to Win at the Sport of Business by Mark Cuban

81

You can use fear as a roadblock or as motivation. There is always going to be someone who is competing with you, and sometimes they are going to win. Rather than not doing something for fear of losing, take on the challenge. If you fail, get back up and go for it again.

How to Win at the Sport of Business by Mark Cuban

82

Everyone has inside of them what it takes to be successful. You just have to be ready to unleash it when the opportunity presents itself.

How to Win at the Sport of Business by Mark Cuban

83

Everyone gets down; the key is how soon you get back up

How to Win at the Sport of Business by Mark Cuban

84

It’s not whether the glass is half empty or half full, it’s who is pouring the water This is one of my favorites. The key in business and success at any endeavor is doing your best to control your destiny.

How to Win at the Sport of Business by Mark Cuban

85

It’s not in the dreaming, it’s in the doing

How to Win at the Sport of Business by Mark Cuban

86

Pigs get fat, hogs get slaughtered

How to Win at the Sport of Business by Mark Cuban

87

the biggest mistake people make is getting too greedy.

How to Win at the Sport of Business by Mark Cuban

88

Business happens over years and years. Value is measured in the total upside of a business relationship, not by how much you squeezed out in any one deal.

How to Win at the Sport of Business by Mark Cuban

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