Recently, I had the pleasure of interviewing Dallas Mavericks owner, Shark Tank judge, and famed investor and entrepreneur, Mark Cuban. Cuban has been a champion for small and medium businesses (SMBs), personally answering questions on LinkedIn and Twitter, sharing expert tips, and even encouraging his network to shop small.
During our conversation, Cuban shared stories and actionable insights for small businesses building resiliency during this time. Below are a few answers from his webinar. To hear all of Cuban’s advice, view the full interview.
1. How should small business leaders guide team members through this ambiguity?
Mark Cuban: As you lead your team, you should also want to know what they think. Ask them: what is your vision? Where is your head at? Your team has to paint the picture for America 2.0 after this (pandemic) is done, so it’s time to think about what it would look like for your customers or for your industry.
If we look back in 10 years after all this, there are going to be five, 10, 15, 20, or even 30 amazing companies that we create. That idea might be sitting on that Zoom screen of one of your team members — all you have to do is ask.
2. What sales strategy would you recommend now?
Mark Cuban: Now is the time to connect more than sell. Every single person in your CRM system or sales platform is scared. Every single one of them wants to hear a reassuring voice. Call, email, or text them, particularly if you already have a relationship with them, and ask how they are doing. You don’t have to sell to them now and ask when they’re buying.
Being nice pays incredible dividends for everyone in the universe. If you’re the company that communicated and was nice to customers during this time, they are going to come back to you when the time is right.
3. What inspires you and what should others read for inspiration during this time?
Mark Cuban: There are going to be heroes born during this time. So when it comes to reading, I tend to focus on what’s coming next. I think Artificial Intelligence (AI) is going to have a stronger presence in the future, so the book I’m reading is Rebooting AI. I’m also taking Coursera classes on AI, and taking tutorials.
In terms of inspiration, I find my inspiration by connecting to people and helping where I can. When you see someone who is down and all of a sudden their spirits get lifted, that’s as inspiring as it gets.
Looking for more in-depth advice from Mark Cuban? View the full interview.
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Republished by permission. Original here.
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This article, “Stories of Resilience: Mark Cuban Shares Small Business Advice” was first published on Small Business Trends