Mark Cuban with an estimated net worth of $billion is currently one of the most successful basketball club owners. He owns the Dallas Mavericks which runs in heavy bucks into his accounts every year. Apart from being a basketball owner, he owns Magnolia Pictures, Landmark Theaters and AXS TV. One will find it to believe that he was used to be a bartender though some people will say he was lucky to have quickly cashed out from the market in 2000 at an early stage but luck is when opportunity meets success and we just believed that he cashed out at the right time. There is so much we can learn from Mark Cuban and here are some tips for you to doing it the Cuban way.

Tip number one, do not persuade. For you to be a successful sales man you should not persuade buyers in buying a product but you should be able to let them know that by buying the product, it will go a long way in helping them. There is a big difference between selling a product and persuading someone to buy a product. Cuban realized this very early and as he once said “selling is not about convincing but it’s all about helping”. If you want to be a successful sales man, try to put yourself in the shoes of the buyer from this point you will be able to map out strategies in convincing the buyer that the product will fundamentally help them.

Tip number two – Always work smart. If you are an ardent follower of Mark Cuban, you will have heard him say hard work is the key to success but he will quickly make you realize that hard work is useless if it does not breeds out useful results. What shall it profit you if you put in hours in a task and then accomplish nothing, it will have been better if you did nothing at all. The key to working smart is for you to be organised and begin each day with a list of task to be done and make sure every task is accomplished. Working smart is also about seeing an opportunity and utilizing it. Mark realized these when during the newspaper strike in Pittsburgh. He and his friends will drive all the way to Cleveland to buy Newspaper and then sell them at an high price thereby making a good profit.

Tip number three, learn to save money. Mark Cuban will always say there is nothing like getting rich quick, to him, getting rich takes time and involves a lot of sacrifice. For you to become successful, you must be willing to live below your means and avoid buying things you don’t need. Cuban endured a lot by shunning the good things of life just to become rich, so same as you, you have to cut off some trivia things which you don’t necessarily need. All these will allow you to save money and have something to fall back on when an opportunity arrives. Living below your means is not something you will do for just a week or a month, it lasts for years until an opportunity springs up.

Tip number four, avoiding going into debt. Mark Cuban will always advise young entrepreneurs starting a business not to borrow money to finance their business, to him it is not the best. He believes with a small capital and a great idea you can have a great business. Cuban believes if you can put in effort into your business and your product satisfies your consumers, then your business should be able to attract people to invest in it instead of you worrying of how to service your loan.

Tip number five, Consumers are the king. Mark Cuban always advises entrepreneurs to always listen to their customers because if they feel respected then they will also reciprocate that respect back to you. One good thing about your customers is that they will always talk about the bad side of a product but a smart business owner will see this an opportunity to grow and will work on them. This is true because your customer feedback is much more important than all the market survey and analysis that you have.

Source: http://ridenattyride.com/2016/06/03/business-ideas-mark-cuban/