Mark Cuban is ready to share the keys to his success!
The billionaire businessman offers insight into his entrepreneurial mind in a new MasterClass course called “Get Big in Business,” which debuted on the platform on Thursday.
In an exclusive interview with PEOPLE, Aquarium for sharks star says he took his own advice — “know what you’re good at and focus on those things” — when it came to his momentous decision to sell the Dallas Mavericks last fall.
“I’m good at technology, I’m good at media, I’m good at sales,” Cuban, 65, tells PEOPLE. “Sometimes I’m good at basketball, but what I’m not good at is building arenas or building tourist entertainment destinations. It’s kind of the future, the big revenue streams for professional sports.”
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Cuban says he looked up to another prominent figure in North Texas sports — Dallas Cowboys owner Jerry Jones — and realized he could connect with new partners (Las Vegas Sands Corp. owners Patrick Dumont and Miriam Adelson) to make Dallas a tourist destination. .
“Just imagine the Venetian next to the Dallas Convention Center, that would change everything,” Cuban says of the possibility of bringing gambling to Texas. “And imagine if you think about your friends outside of Texas, there’s not really that one thing where they say, ‘You know what? I’m saving my money to come to Dallas for A, B or C.’”
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He adds: “We are not exactly a tourist destination at the moment. So I think resort casinos would make Dallas and any other locations in Texas probably one of the top three tourist destinations in the country. And that’s why I think it makes sense for it to happen.”
Cuban believes that weighing the challenges and risks of any endeavor — just like selling the Mavs — is a key principle offered in his MasterClass, along with tools to help people who want to carve out their own niche.
It’s a determination that has helped fuel another venture, his online discount prescription drug company Cost Plus, which offers “transparency” in pricing and has made inroads as a pharmaceutical wholesaler.
As far as the father of three is concerned, age is nothing but a number when it comes to achieving success.
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While his and wife Tiffany’s 14-year-old son Jake has taken an interest in the business, their 17- and 20-year-old daughters Alyssa and Alexis are still considering their options.
“They find things they love to do,” Cuban says. “And that’s the cool part about being an entrepreneur. You don’t have to be young to start. You don’t have to be 17 or 20. You can be 20, 25, 30, 50, 60, 75, it doesn’t matter.”
He adds, “It really boils down to when you find that you have a knowledge base about something that can give you an edge, and you really love it so much that you want to be great at it. Being great at something or really, really good at something is what makes you puts you in a position to start a business.”
After selling the Mavs, a team he owned for almost 24 years, Cuban retained a 27% stake.
The numbers may have changed, but Cuban’s commitment — he says he will continue to travel with the team on trips — is unwavering.
“I’m still actively involved in basketball,” he says. “Yeah, I’m still totally with the Mavs. You will see me at games yelling and screaming at the refs, yelling and screaming for the Mavs. So that hasn’t changed at all.”
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Source: HIS Education