Mark Cuban is an American businessman, investor, and philanthropist. He is the owner of the National Basketball Association's Dallas Mavericks, Landmark Theatres, and Magnolia Pictures, and the chairman of the HDTV cable network AXS TV. He is also a "shark" investor on the television series Shark Tank. In 2011, Cuban wrote an e-book, How to Win at the Sport of Business, in which he talks about his life experiences in business and sports. Below is some advice from Mark's e-book.
1) Time is more valuable than money
Time is far more valuable than money. If you use your time wisely, it will have far more impact on your life and success than any amount of money ever will.
2) Commit random acts of kindness
No one gets to the top on their own. Being successful not only involves getting along with people, but also helping people and giving something back. If you meet new people with the intention of helping them rather than getting something, your network and relationships will grow stronger.
3) No balls, no babies
Once you think you’re ready, you go for it. People spend far too much time planning, but at some point, you just have to go for it. There is no such thing as a perfect time to launch. You can wait and look at every angle, but sooner or later, you have to act. As Mark Cuban puts it, “no balls, no babies”.
4) Work hard, play hard
A business can devour your life. You live and breathe it every second it’s there. It’s not just a part of your life, it becomes your life. It’s very much possible to not get any vacations for years, but you have to find ways to blow off steam to avoid blowing a gasket.
5) Don’t let fear be a roadblock
Fear can either be a roadblock or a source of motivation. There will always be competitors in the market. You can either do nothing out of fear, or take on the challenge. As Einstein once said, “You never fail until you stop trying“. Failing is just finding another way that doesn’t work. You only have to get it right once.
Mark Cuban's book and blog is a must-read for any aspiring entrepreneurs. You can get a copy through his blog.