EXCLUSIVE
With the fast-selling e-publication of his memoir-cum-business-strategy guide, Mark Cuban made another notch in his media-pioneer belt.
In one day, the slim under-100-page book, titled "How to Win at the Sport of Business: If I Can Do It, You Can Do It," soared to the top of the bestseller charts at the big online book-buying sites, with particularly strong sales on Amazon, iTunes and Barnes & Noble.
Also read: Mark Cuban: YouTube Can Change the World, But It Can't Make Money Streaming
We caught up with the defending NBA-champion franchise owner and media-business entrepreneur as he was, in characteristic fashion, running his own promotional campaign for the book.
Were you surprised at the immediate great sales?
I had no idea what to expect. I literally didn’t ask anyone what a good number would be. So when it popped up on the bestseller lists and at the top of all business books, I was truly surprised.
This is new to me. This is new to the industry. From here, hopefully I will be able to figure out whether this is just a one-off situation, or something that I or others can replicate.
Maybe I just got lucky.
Of all your business ventures, the profit margin for this book is unmatched. Much of the book already had appeared as blog posts, and the production, promotion and distribution costs were negligible ...
Yes. That is what made this approach so appealing. I didn't have to spend a ton of time writing and editing, and Scott Waxman at Diversion Books was very accommodating in allowing me to make edits, literally up to hours before the book was released.
Also read: Mark Cuban Is Shopping Landmark Theaters, Magnolia Pictures
More importantly, I didn't have to commit to doing a book tour and a rigorous interview schedule because I controlled all the economics. I try to always be a good business partner. If a publisher had made a big investment in me, I would have felt immensely obligated to make sure they made money.
Instead, I can work to my schedule and work almost exclusively from my phone and laptop to do all the promotional work.
You mentioned in a blog post that after reaching millionaire status, many impresarios reach a plateau, adding that “some of us want more." When did you begin to feel, as you say in your book, that family should come first and you could cut back your work week?
Financially, I was more in protection mode than accumulation mode after my hedge of Yahoo stock worked back around 2002. Personally, once my kids were born, that changed everything. Now with three kids, aged 2 to 8, they run my life.
I think I would have imploded had I tried to balance a family and my financial goals when I was younger.
Your parents wondered if you would ever be stable.
