How to Win at the Sport of Business
Mark Cuban
Contributed by Andrea Barraza
Reviews

Feloni (2016) takes a keen interest in the three principles of success that Cuban has developed. The first principle that Feloni describes says that "Understand the difference between adding value and benefiting from a bull market." In this principle, Feloni says that Cuban has demonstrated a common trend among many businesses. As businesses evolve, Feloni says that there is a trend among certain players to pick and stick to a trend. In the long run, these organizations may experience a downturn in their operations without recognizing it is the tendency to stick with the trend that has been responsible for their poor performance. Value addition is much more important that benefit from the current market situations. Feloni writes, "There is nothing wrong with going along for the ride and making money at it, but it will catch up with you if you lie to yourself and give yourself credit for the ride." Value addition should be the primary aim of an organization that seeks to perform in the market. 

The second principle says that "Win the battles you're in before moving on to new ones." There is a tendency among certain businesses to set new targets for their operations even before they complete the targets at hand. In the end, many things will be left undone or those that are done without considering quality and efficiency. Feloni reports, "It might cost you some longer-term upside, but it will allow you to be the best business you can be.” In this way, it may be possible for an organization to make sure that they do everything satisfactorily. Finally, Feloni appreciates Cuban’s advice of ‘don't drown in an opportunity.' In many situations, businesses find themselves faced with a wide range of opportunities that they may want to pursue. Without proper evaluation of these opportunities, it is possible that the ventures will collapse (Feloni, n.d). The use of reasons and objective data in the analysis of business opportunities is an essential ingredient to commercial success.

‘Four Minutes Books’ (n.d) says that one of the most attractive features of the book is its utilization of unconventional approaches to attain greater heights of economic success. The review appreciates that it is not possible to use common approaches to obtain extraordinary results. Entrepreneurs must refuse to be bound by the old principles, rules and regulations and other practices that may not be suited to the prevailing circumstances. Businesses must use reason in making a decision that are suitable to their circumstances. The reliance on the ancient ways of doing things may not be very useful to all organizations. Thus, it is essential for any business to refuse to be bound by the conventional business rules if they do not serve their interests (Cuban, 2016). Besides, the review appreciates Cuban’s advice to business owners not to make decisions based on emotions. The involvement of emotions in business decisions is one of the surest ways leading to collapse of some of the most brilliant ventures.

In the same vein, Nesvig (2011) says that Cuban has provided a clear path to young people who would want to venture into entrepreneurship. While most youths would always want to seek employment in other organizations when they graduate from college, Cuban says that the approach is not the most useful that the youths may use in order to achieve financial independence. It is essential for young people to realize that there are opportunities in business. The problems are that most young people today do not have the ambition, drive, and passion that form the foundation of any successful people. It is essential to note that most young people want to live the lives of celebrities that they only see on television without appreciating that these individuals make huge sacrifices in order to arrive at the levels in which they are.

It is not lost to Nesvig that Cuban lays an immense level of significance on financial prudence among entrepreneurs when they start experiencing economic development in businesses. Companies have been on the verge of collapse when they fail to put in place sound financial policies in many instances. Poor spending habits have caused massive problems for some businesses. Youthful entrepreneurs are usually the most affected by this problem. Most of them are tempted to venture into brash consumerism when they start making money. Cuban says that it is essential for people to exercise restraint in their spending.

Preswitt (n.d) has borrowed certain lessons from Cuban which he thinks sum up the intention of the book. He has listed ten lessons that he thinks are critical to any business that is starting up. Firstly, he also appreciates that it is necessary for aspiring to be careful not to drown in opportunities. While there are many opportunities that many people may come across, it is necessary to make sure that these opportunities do not cause their decline. Secondly, Preswitt notes that ‘the best equity is sweat equity'. The only avenue of grand success is through effort. While there are many people, who seek easy avenues to be successful in business. However, Cuban says that the only success that an individual will enjoy is that which comes through sweat. Although it may take time, there is no doubt that it will eventually arrive.

Most people start businesses in the area in which they do not even have an interest. It is suicidal for people to decide to invest in sectors just for the sake of the promise of great rewards. Preswitt notes that Cuban advocates for individuals in business to seek areas where they have interests. For instance, Cuban had an interest in technology and sports. As a result, he made a significant investment in these fields. It is essential for people to note that seeing someone is doing well in a particular sector of the economy will make them equally successful (Kane, 2016). It is necessary for investors to make sure they develop an interest first before making an investment. In this way, it would be possible for the investors to be creative enough to succeed in the market. Any other approach is likely to lead to devastating outcomes.

Finally, Preswitt finds that overcoming fear, being the competitive and efficient management of time play an important role in improving the competitiveness of an enterprise. Notably, many situations in which entrepreneurs may be afraid to venture into businesses due to the risk of failure are there. As well, there are circumstances where even ideas that are noble fail to bear fruits because the investors have been fearful and cautious in their approach to business. It is only those who are bold who make it in business. The fearful and timid will always end up making mistakes that would have adverse effects on their ability to deliver success in whatever they are doing.

Schawbel (2011) appreciated that dealing with competition is a critical step in the progress of any business. In the modern business environments, many organizations come up every day, and they offer similar goods and services. The only way to deal with competition is to embrace. It is important for businesses to make sure that they have programs and plans that will allow them to deal effectively with the competition. There is overwhelming evidence that some industry giants have been brought down by forces of competition in the industry. Cuban says that effective market research especially with regard to trends and tastes and preferences of customers. Generally, the book has provided a solid foundation for people who are interested in entrepreneurship. The lessons are essential for both start-ups and existing businesses.

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