Mark Cuban’s triumphant return to reality TV: Shark Tank
Dallas Mavericks owner Mark Cuban is a blue collar American, down to his sneakers and jeans, an American businessman. So when he was asked to join Shark Tank Season Two, he jumped at the chance. He is having a lot of fun with the show and finds it rewarding to help someone achieve his dreams. He wants you to know that despite the economy, the American dream is alive and well. Seven years ago, Mark had his own Apprentice-style show called The Benefactor on ABC, but negotiating and interacting with his fellow sharks shows his surprising tactics as a strong strategic partner and negotiator.
Cuban initially founded MicroSolutions, Inc., a software distributor, and later sold it to CompuServe in 1990 for $6 million. As a millionaire he wanted to take his passion for basketball and business to another level. He believes that a smart, focused and successful salesperson will prepare and do the necessary homework to find his next customer. And that is exactly what he did. He became a billionaire because he took small ideas and made them big.
Mark Cuban and his partner Todd Wagner founded Broadcast.com in 1995 because they wanted to listen to Indiana University Dallas basketball games. Four years later, they sold the company to Yahoo in a deal valued at $5.7 billion. He is also the owner of the Dallas Mavericks and his star-studded NBA team is his most prized possession. Best known for his antics on and off the court, he knows that losing is not an option.
Mark Cuban on the launch: “I try to sell good products and services and come up with ideas that I hope will be successful.” If the person doesn’t want to buy it, he wants to know why. “Would you mind sharing with me what you didn’t like about the product or why you like the product you think?” he asks. If he responds well to his objections, he will let it fly and see what happens. If they say no, move on. “The last person didn’t get it. That’s his problem. Not yours.” say Cuban. That’s why when it comes to attracting potential investors, he knows exactly what to look for. He has pitched ideas himself and listened to pitches from budding entrepreneurs every day. ABC’s Shark Tank, like CBC’s Dragon’s Den, is the reality series in which small business entrepreneurs try to persuade a group of high-profile entrepreneurs to invest in their companies in hopes of turning them into bigger businesses. large.
Cuban is the sixth shark to alternate with comedian Jeff Foxworthy and joins forces with regulars Barbara Corcoran, a New York real estate mogul; Kevin Harrington, president of the infomercial company TVGoods; Robert Herjavec, cybersecurity provider of the Herjavec Group; Daymond John, founder of the sportswear company FUBU; and Kevin O’Leary, who developed Softkey Software Products and eventually sold it to Mattel for $3.7 billion. He is currently the founder of O’Leary Funds, a mutual fund company.
Cuban believes in entrepreneurs: “This is the dream of your life, this is something you have put your heart and soul into, you told all your friends, all your family, you probably asked them for money to invest in you. You’re going to do whatever it takes to succeed, and you’ll have the opportunity, in front of these sharks, to make it happen.”
He believes the key for entrepreneurs to land the deal is having enough confidence in their business to make that pitch. Those who are successful have a great idea, are fully committed to their business, and have the numbers to back it up.