Book Review: How to win at the sport of business by Mark Cuban

Pic: Amazon
  • You are an entrepreneur regardless of the stage you are currently at;
  • You are a young professional or fresh grad feeling lost in finding your calling;
  • You help anyone of the preceding groups e.g. as a mentor, coach, etc.
  • Learn to preempt competition by always asking yourself how someone could take you out of business. Is it Price, Service, Ease of use?
  • Operate as though you were going against the Googles or Facebooks in your industry. Watching the best taught me how to run my businesses he wrote;
  • Be honest with yourself, know what you are good at and where you need help. Seek feedback to figure this out;
  • Know what the core competencies of your business are and double down at being the absolute best at executing them;
  • Learn to let teammates take the ball and run with it, aka delegate;
  • Think of YAHOO as You (the customer) Always Have Other Options. Cuban warns: treat them like they own you, because they do, before adding: I make sure that all the customer service emails get forwarded to me. If someone is complaining, I want to know about it, and I want to get it fixed quickly. Happy customers might tell one person (…). An unhappy customer starts a blog, writes about how unhappy he is, takes out an ad on search engines to let people who are looking for the product know how mad he is, starts an email forwarding chain asking people to boycott the product, does a YouTube video about it and games YouTube to make it one of the Top 10 most-viewed videos … You get the picture.
  • Don’t rely on customers to create the future roadmap for your product or service. That’s your job. They can tell you the things that are broken and how they want to be made happy. Listen to them. Make them happy.
  • Convenience: make sure that your product (or service) is the easiest to experience and to sell because people generally follow the path of least resistance.
  • In sales should you take “No” for an answer? Widespread advice says you should persevere with prospects. Cuban advocates a contrarian approach: Every no gets you closer to a yes. But before walking away ask for feedback. Here is the script: thank you for taking the time to listen/read. Would you mind sharing with me what you didn’t like about the product or why you like the product you chose? Substitute service to product as it suits you.
  1. Don’t start a company unless it’s an obsession and something you love. If you have an exit strategy, it’s not an obsession;
  2. Sales cure all. Know how your company will make money and how you will actually make sales;
  3. 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;
  4. No offices. Open offices keep everyone in tune with what is going on and keep the energy up;
  5. Keep the organization flat. If you have managers reporting to managers, you will create politics;
  6. Make the job fun for employees. Keep a pulse on the stress levels and accomplishments of your people and reward them;
  1. Time is more valuable than money;
  2. Commit random acts of kindness;
  3. No balls, no babies. Translation: once you are prepared and think you have every angle of preparation covered, you have to go for it;
  4. Work hard, play hard;
  5. Don’t let fear be a roadblock, instead use it as motivation;
  6. Expect the unexpected, and always be ready;
  7. It’s okay to yell and be yelled at;
  8. Everyone gets down; the key is how soon you get back up;
  9. It’s not whether the glass is half empty or half full, it’s who is pouring the water;
  10. It’s not in the dreaming, it’s in the doing;
  11. Pigs get fat, hogs get slaughtered. Translation: in business do not be greedy, else you’ll soon find out that no one wants to do business with you anymore;
  12. You only have to be right once;
  • You don’t need to have all the answers or focus on one thing (at 21). 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;
  • Going to college 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;
  • The greatest obstacle to destiny is debt. Financial debt is the ultimate dream killer;
  • If you can sell, you can get a job — anywhere, anytime. Sales is the most important job in every company. There has yet to be a successful company that has survived with zero sales;
  • The cheaper you can live, the greater your options. Your biggest enemies are your bills;
  • Take lots of chances. Creating opportunities means looking where others are not;
  • How to figure out if you are in the right job? If it matters how much you get paid, you are not in a job you really love. If you love what you do so much that you are willing to continue to live like a student in order to be able to stay in the job, you have found your calling;
  • Figuring out how to be the best: when you are the best at something, the demand for your services will grow;
  • Start the day motivated with a positive attitude because you are going to screw up. We all do;
  • Ultimate decision-making question: ask yourself What Will You Remember When You are 90: the regret or the satisfaction for having done it?

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Mahi Sall

Mahi Sall

Audiobookaholic | https://mahisall.me

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