Mark Cuban: ‘You Only Have to Be Right Once’

Mark Cuban, the owner of the Dallas Mavericks and Landmark Theatres among other holdings, has discussed 3 tips that entrepreneurs can follow if they want to achieve greatness. Find these tips below.

• Dedication and Perseverance are key: According to Cuban, it is more productive developing dedication and perseverance as qualities than chasing perfection. Time spent chasing the unattainable distracts from the good you can achieve. Rather, find your areas of weakness and seek out people who are willing to help you take care of those areas.

“You have to out think and outwork people, but you don’t have to be perfect. And you have to be good at developing partnerships. I try to identify the things that I’m not really good at, and I try to partner with people who complement my skillset.” Cuban says.

• Value Your Time: “If I do one phone call every two weeks, that’s a lot,” Cuban said. “If I do one meeting a month, that’s a lot. And really the only time I’m going to do a meeting is if you’re writing me a check. Otherwise, don’t waste your time.” That is just how much Cuban values his time. He says that he doesn’t really dig all the formalities that are enforced with big conference room meetings and the time it takes to journey to and fro.
• Don’t let failure stop you: Recounting the various failures that he had experienced, he said that failure should never serve as a deterrent to continuing. “It doesn’t matter how many times you fail, you only have to be right once. There are a lot of businesses I’ve had that you’ve never heard of. I started a powdered milk company. Just the worst of the worst”. He was even fired from one of his early jobs. Still, he was determined and eventually succeeded. I fear failure, but I won’t let it stop me. Sometimes you just got to do it or else it just doesn’t happen.”