Life Lessons From Mark Cuban

Few entrepreneurs appreciate the value of marketing more than Mark Cuban. The owner of the world champion Dallas Mavericks, this outspoken billionaire regularly keeps in touch with his fans through Twitter and on blogmaverick.com. Grab a courtside seat as he shares his frank insights on how to succeed in business.

It’s not about the Idea
A true man of action, Cuban believes ideas are secondary. “EVERYONE has ideas,” he says. “The hard part is doing the homework to know if the idea could work in an industry, then doing the preparation to be able to execute on the idea.”

Go to the customer
Cuban understands that even the greatest business plan will fail if you don’t connect with customers. “[You must] go to where the customers are rather than bringing customers to you,” he says. “Surprise me by being somewhere I don’t expect you to be.” Cuban has done just that by selling books, DVDs and movie soundtracks at all of his Landmark Theatres. It’s a simple idea that has made him millions.

Customers will let you know if you’ve gone too far
How do you know when you’ve gone too far with a particular idea? Cuban believes you’ll know by looking at your revenues. “Your customers will vote with their pocketbooks,” he explains. “If you go too far, they will tell you.”

Communicate with your customers
Whether chatting with fans during timeouts or responding to emails, Cuban has always made an effort to stay connected with his customers. “[You must] communicate with your fans or customers,” he insists. “They know we live in an ever changing world. If you tell them what you are thinking and why you are doing what you do... they will respect and support you more. Just be sure to be brutally honest.”

Make things easy on your customers
“In a world of so many choices, people are going to take the path of least resistance and do the things that are easy and enjoyable for them,” Cuban explains. “Make your product easier to buy than your competition, or you will find your customers buying from them, not you.”

You've Got To Be Joking

Sit back and relax as you enjoy this week’s Sports Shorts.

David Stern has asked Mark Cuban to apologize more directly to Kenyon Martin's mother. While he’s at it he may also want to apologize to anyone who’s ever wasted five minutes of their life reading his blog.

Michael Phelps won his first two events at the Charlotte UltraSwim. It’s nice to hear he’s smoking the competition for a change.

Tony Romo was recently spotted leaving a steakhouse in Dallas carrying a bottle of 21-year-old single malt Scotch. We hope for his sake the Scotch has aged better than Jessica Simpson.

Former NBA star Corrie Blount has been sentenced to one year in prison after being caught with 29 pounds of marijuana. Or, as Ricky Williams calls it, a single serving.

Federal investigators recently questioned Jose Canseco’s high school baseball coach. Not about steroids, they just wanted to know how anyone could stand to be around him for four full years.

Chad Johnson received some good news and some bad news today. The good news is the NFL has agreed to allow him to have the name Ochocinco on the back of his jersey. The bad news is the front of the jersey will still feature the name Bengals.

The Minnesota Timberwolves are interested in bringing back Kevin McHale. After all, he IS the team’s second best forward.

Anaheim Ducks GM Bob Murray accidentally hit a woman with a chair following his team’s loss to the Red Wings. The incident is expected to fetch him 2,000 minutes in the penalty box.

The Yankees are selling containers of game-used dirt to their fans. Wow, and I thought New York was only losing ground in the standings.

Jerry Bruckheimer is interested in buying the Sacramento Kings. Luckily his experience directing Pearl Harbor has prepared him well for epic disasters.

You've Got To Be Joking

Sit back and relax as you enjoy this week’s sports shorts.

Tony Gwynn is the latest athlete to have his image placed on a Wheaties box. It’s believed to be the first time that the cereal’s spokesmodel will have a higher fat content than the cereal itself.

John Salley, Charissa Thompson and Rob Dibble are heading to Hot Springs, Arkansas for a special taping of the Best Damn Sports Show Period. Not only will it be the first time many locals will get to meet a celebrity, it will also be the first time they’ll get to meet someone with a full set of teeth.

Detroit Pistons forward Rasheed Wallace was spotted at Saturday's fight between Winky Wright and Bernard Hopkins. It’s believed to be the first time he’s witnessed a fight without joining into the fray.

Seattle Supersonics forward Kevin Durant has inked a lucrative endorsement deal with Upper Deck. It’s a natural fit since the company’s trading cards are nearly as one-dimensional as he is.

Stephon Marbury has expressed interest in playing in Italy. What a great idea. I’ve never been convinced that English was his first language anyhow.

The FBI is investigating Tim Donaghy, an NBA referee who allegedly bet on basketball games. The scandal goes a long way in explaining how the Knicks managed to win more than 10 games.

Former world champion pole vaulter Giuseppe Gibilisco has been banned for two years for his alleged role in a doping case. Something tells us he’ll eventually rise above his detractors.

Dallas Mavericks owner Mark Cuban defended the NBA’s integrity on one of his recent blogs. The incident is believed to represent the first time that the words Mark Cuban and integrity have been uttered in the same sentence.

NHL commissioner Gary Bettman is expected to recommend to the Board of Governors that the league expand by two teams. That’s wonderful news for the residents of Chicago who have been waiting for a professional team for more than a decade.