Shark Tank’s Mark Cuban appears on the cover of Success Magazine’s November 2011 edition in his underwear. Actually, I’m not even sure he’s got his undies on! He is wearing a long sleeve shirt with a long tail in front, no pants, and white socks (no shoes). I guess you’ll need to see the picture to make any sense out of what I’m talking about. It’s a take-off on the famous Tom Cruise movie, Risky Business……One of Cuban’s all-time favorite movies.
I learned two interesting things regarding Mark’s opinion of entrepreneurs. First, he believes some of us are predisposed to becoming entrepreneurs based on genetics or family history. His father always encouraged Mark to “do things on his own and take control of his own destiny”.
In my book “Unlocking Your Entrepreneurial Potential”, I feature a “Self-Funded Entrepreneur’s IQ Test”. This test is designed to see if an individual has what it takes to strike-out on their own. There are 50 questions that make up the SFE IQ test. One of the questions pertains to entrepreneurial family history. If one, or both, of your parents was an entrepreneur, this increases your likelihood of succeeding. You’ve been exposed to the entrepreneurial mind-set for most of your life. You know what it takes. This can only help you prepare you for what is to come.
Cuban also talks about “logical entrepreneurs” who see an opportunity and prepare themselves to complete their dreams or goals.
Entrepreneurs are constantly evaluating the risk vs. the potential reward before making decisions. In Mark’s case, he never saw himself as a risk-taker because of all the planning and prep work he did before he committed to a business or company. “I worked my ass off to know the business and industry as well as anyone, which in my mind took the risk out of the business I was starting”, he says.
So, actually Mark is “Mr. Anti-Risky Business”. He is always well prepared. So why did he forget to put his pants on? Must be low risk with a high potential reward.