The story of Mark Cuban

I’ve been wanting to post this for a long time: Mark Cuban is one of the greatest entrepreneurs in my eyes and is finally gaining the spotlight!

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The owner of the 2011 NBA World champions, Dallas Mavericks, and a shark investor on ABC’s hit television series, Shark Tank, this $2.4 billion mogul explains how he reached the top, including what sacrifices he had to make, and what lessons he learned from having horrible bosses.

You can read all about it over here:

http://www.forbes.com/sites/monteburke/2013/03/28/at-age-25-mark-cuban-learned-lessons-about-leadership-that-changed-his-life/

Key Takeaways:

  • Made sacrifices early in his life by driving an old car that required an oil change every 60 miles, splitting a three bedroom apartment with several other roommates, and piling his clothes and other belongings in one small corner
  • Was always entrepreneurial since his days working at Mellon Bank at Pittsburgh
  • Would always take matters into his own hands and bypass the CEO of the company on sales he had made on his own(This belongs to the category of taking risks)
  • Follows the mantra “Sales cures all”
  • Started his first company, Micro Solutions, which grew into a company generating $30 million in revenue
  • Sold Micro-Solutions to CompuServe, and then found another company called AudioNet, which later became Broadcast.com
  • Purchased the Dallas Mavericks basketball organization

The key fundamentals here overall for Cuban or for any entrepreneur is that you must be willing to face setbacks and embrace risk. This is exactly how Mark Cuban got to where he is and this is precisely how you can get to where you’d like to go in life!

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Overall I’d have to say that Mark Cuban has become one of my favorite entrepreneurs because of his ability to go that extra mile in making a sale and in embracing risk! And Mark Cuban is also a perfect example of how we should all learn from our mistakes when we’re young!! I do intend to reference Mark Cuban in future posts so be on the lookout.

 

Is there an entrepreneur that you have tremendous respect for? What are your thoughts on Mark Cuban? And what kind of sacrifices are you making or risks are you taking in achieving your goal? Feel free to leave your thoughts in the comments below and please like this post! Thank you 🙂

Investing for everyone including DUMMIES!

Alright so I’d like to make a clarification. After my previous blog, I experienced a chill flowing down my spine as I realized that perhaps the percentage of people that engage in investing is pretty small. It seems that so many young professionals, as I, abhor finance, therefore we avoid activities that involve budgeting expenses in Excel files or designating a certain amount for each category of expense. I just wanna say this: “I HEAR YA”. Red flags are constantly raised on this subject but believe me if you’re into starting a business or getting involved in any type of business related venture, be it consulting, or any type finance, sales or marketing type positions, then learning investing will only help develop such skills as it will guide you through certain concepts that can accelerate knowledge base and decision making. Issues such as on how stock price can affect the profitability or whether a business is an actual commodity and how to determine whether it is.

For instance, if you’re a financial consultant who specializes in advising non-profits and small corporations on how to control their budget and how to manage the various type of assets while managing liabilities, you would have to understand  quite a chunk of the investing arena and how the markets can be impactual in such scenarios.

If you’re a sales & marketing professional, naturally you would have to understand the market you specialize in, as well as the markets your serve and how to investigate the key performance metrics to know whether a product would do well in a particular market. Studying the growth rates and the charts, graphs associated with it in-depth may not be necessary but it can help.

Furthermore, if you are a serial entrepreneur, committed to making money or conveniencing the citizens of your community or the world, then technically what you are doing is you are investing your money. And so investing in stocks, bonds, mutual funds, or real estate can only instill in you these business blocks of what it takes to actually invest your money in a start-up or franchise, or if you’d like to be the owner of a gym, restaurant, apartment complex. Just my thoughts….

Other than that, even if you’re not into business. You may still want to consider looking into investing as a viable option for accumulating bucks either for that sexy Camaro that’s been you’re dream car for sometime or a house by the beautiful lake side. Who’s knows you may even fall into the rythym.

If you agree with all of this or are an active investor, please like or retweet my post. Muchas gracias ;)!!