The Story of Mark Cubin: An American Billionaire Entrepreneur The Story of Mark Cubin: An American Billionaire Entrepreneur Matthew Napier Management 280-01 Marietta College The Story of Mark Cubin: An American Billionaire Entrepreneur There are only a select few people in the world that have had the success that Mark Cuban has had. Mark Cuban is a household name, for most because of his ownership of the National Basketball Association Dallas Mavericks, but also for others his unfathomable success outside of sports ownership. Over the years, Cuban has continued his success and continued to become one of the wealthiest people in the world. Mark’s reputation is almost as strong as his businessman personality, as most know him for his whatever-it-takes mindset and his commitment to progress and winning. Throughout this essay, his history and childhood will be explained along with his success in his previous business experiences, and look into his current role in business and the sports world. I am credible to write about his life and role in sports, because I have spent the time to do research. First, as is important in studying anyone, we will talk about Mark Cuban’s early history. Mark Cuban was born on July 31, 1958 in Pittsburgh, Pennsylvania and grew up in the Pittsburgh suburb of Mt. Lebanon, in a middle class Jewish working class family. His father, Norton, spent nearly half a century working at a car upholstery shop and his grandfather, Morris Chobanisky, emigrated from Russia and fed his family by selling merchandise out of the back of a truck. He wasn’t raised in wealth, so he wasn’t used to living the style of life that he has today, but he had make it happen himself. Just like his grandfather before him, Mark Cuban inherited a tendency to make a better life for himself. Cuban's first step into the business world occurred at age 12, when he sold garbage bags to pay for a pair of expensive basketball shoes. He continued to stay interested in the idea of making money and throughout his schooling he had many different jobs. While in school, his list of jobs included bartending, instructing disco The Story of Mark Cubin: An American Billionaire Entrepreneur dancing, and promoting parties. The young entrepreneur to be wasn’t born into the lifestyle like most wealthy people are, but he made it a priority to work his hardest to get there someday and it started at the age of 12 with his first job. Throughout school, Mark Cuban’s hard work also showed in his desire to learn as much as possible to get to the point that he is at today. Cuban always challenged himself with tough courses and was fascinated with the business courses that his high school offered. Rather than finishing of his senior year of high school, Cuban enrolled as a full time student at the University of Pittsburgh. After one year at the University of Pittsburgh, he transferred to Indiana University in Bloomington, Indiana and graduated in 1981 with a bachelor's degree in business administration. He even came up with a way to pay for his college. He paid for college by collecting and selling stamps, and once gained about $1,100 from starting a chain letter. Mark Cuban’s drive and determination from his early childhood transferred into his school work, as he was always overachieving and set himself up for the prosperous future that would soon come. And in 1982 Cuban moved to Dallas, Texas. This is where the Mark Cuban that everyone knows would start. When Mark Cuban first got to Dallas, he brought in good money as a bartender but didn’t like the hours and wanted more quickly. He soon found his chance, when he was hired to be a salesperson for Your Business Software, one of the first PC software retailers in Dallas. One of the many failures in Cuban’s life came when he was fired from this job for meeting a client for something that he had been working on for a possible personal business. But even this failure turned out to be a positive for him when he started his company MicroSolutions. In The Story of Mark Cubin: An American Billionaire Entrepreneur 1990, Cuban sold his company MicroSolutions to CompuServe for $6 million and he retained approximately $2 million after taxes on the deal. This was Mark Cuban’s first real taste of the life of extreme wealth that was soon to come. In 1995, Cuban and fellow Indiana University alumnus Todd Wagner started Audionet, combining their mutual interest in college basketball and webcasting. With a single server and an ISDN line, Audionet became Broadcast.com in 1998. By 1999, Broadcast.com had grown to 330 employees and $13.5 million in revenue for the second quarter. In 1999, during the dot com boom, Broadcast.com was acquired by Yahoo! for $5.9 billion in Yahoo! stock. Today he has added other businesses to his possession including Landmark Theatres, and he is the chairman of the HDTV cable network HDNet. And as of 2010, Cuban is #400 on Forbes' "World's Richest People" list, with a net worth of $2.4 billion. But still Cuban is most known for his ownership of the Dallas Mavericks, and this is why I chose him as my sports manager to write about. On January 4, 2000, Cuban purchased a majority stake in the NBA's Dallas Mavericks for $285 million from H. Ross Perot, Jr. Starting from the day that Mark Cuban bout the ownership of the franchise, he turned around a very average NBA franchise into a contender year in and year out. He did this through his whatever-it-takes attitude and his desire to win. In the 20 years before Cuban bought the team, the Mavs had a winning percentage of 40%, and playoff record of 21–32. In the ten years following, the team won 69% of their regular season games and reached the playoffs in each of those seasons. The Mavs playoff record with Cuban is 49 wins and 57 losses, including their first trip to the NBA Finals in 2006, where they lost to the Miami Heat. Cuban isn’t like any other owner of a professional franchise, in the way that he is the Maverick’s biggest fan. Most owners sit up in their own box suite but Cuban is always down The Story of Mark Cubin: An American Billionaire Entrepreneur on the court wearing one of the player’s jerseys. Cuban even flies his private Gulfstream V to attend road games. Most people familiar with sports know that Cuban has been fined numerous times and for a lot of money for being such a big fan. Cuban has been fined by the NBA, mostly for critical statements about the league and referees, at least $1,665,000 for 13 incidents. In a June 30, 2006 interview, Mavericks player Dirk Nowitzki said about Cuban “He's got to learn how to control himself as well as the players do. We can't lose our temper all the time on the court or off the court, and I think he's got to learn that, too. He's got to improve in that area and not yell at the officials the whole game. I don't think that helps us.... He sits right there by our bench. I think it's a bit much. But we all told him this before. It's nothing new. The game starts, and he's already yelling at them. So he needs to know how to control himself a little.” So he has a little temper, but like it or not, this doesn’t take away from his success or talent to successfully manage a franchise. This shows how passionate he is in his job as a manager, and how much he cares about his team. This is one of the most important things that all managers should have, is passion, and Mark Cuban has plenty! When Mark Cuban isn’t Dancing With the Stars, or writing children’s books, or making appearances on shows like Entourage or the Simpsons, he is doing his best to successfully manage the Dallas Mavericks and his other businesses. Cuban wasn’t born into the lifestyle that we see him in now, but he sure did find a way to get himself there. This example of determination and drive should be motivation for everyone that know about him. As long as he is the manager of the Mavericks and any other professional sports team, the fans will know that they are going to get the most out of their management and their team. Mark Cuban is beyond successful both in the sport world and out of it, and will continue to find a way to get it done. The Story of Mark Cubin: An American Billionaire Entrepreneur "Mark Cuban Biography." Investing Value - Business and Investment Portal. Web. 15 Apr. 2011. <http://www.investingvalue.com/investment-leaders/mark-cuban/index.htm>. "Mark Cuban Biography." Biography.com. Web. 15 Apr. 2011. <http://www.biography.com/articles/Mark-Cuban-562656>. "MAVERICKS: Mark Cuban Biography." NBA.com. Web. 15 Apr. 2011. <http://www.nba.com/mavericks/news/cuban_bio000329.html>.
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