A Quote by Mark Cuban
Business happens over years and years. Value is measured in the total upside of a business relationship, not by how much you squeezed out in any one deal.
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Over the long term, it's hard for a stock to earn a much better return that the business which underlies it earns. If the business earns six percent on capital over forty years and you hold it for that forty years, you're not going to make much different than a six percent return - even if you originally buy it at a huge discount. Conversely, if a business earns eighteen percent on capital over twenty or thirty years, even if you pay an expensive looking price, you'll end up with one hell of a result.
It is a matter of course and of absolute necessity to the conduct of business, that any discretionary businessman must be free to deal or not to deal in any given case; to limit or withhold the equipment under his control, without reservation. Business discretion and business strategy, in fact, has no other means by to work out its aims. So that, in effect, all business sagacity reduces itself in the last analysis to judicious use of sabotage.
I spent some time studying Toyota, because how could a loom maker - they made looms. That was their business for 50 years, 35 years - and then they decided to go into the car business after everyone else was in the car business.
The paparazzi have got worse for everyone over the years. It has just become such a big deal. No-one in this business really has much privacy.
During the last years of university I started an online business with a couple of friends selling domain names - we started by cybersquatting and then we became a real business. Someone bought us after three years and we made a good deal.
I'm not the businessman. I don't deal with the business at all. Not anymore. Occasionally, every four years or five years, they tell me I've run out of money, I have to go and make some more.
One of the things I have learned over 26 years in the business is that the most productive place to focus new business efforts on is current clients. Think about it you have the relationship, you have inside knowledge of the company, the people and often, the brand, so it's a much less diverting exercise. Simply put, the odds of getting a higher share with current clients is much better than getting in the front door with new ones.
I've had 20 years, 25 years of running business. I've been well trained by a number of amazing organizations and I've got a lot of implicit, subconscious pattern recognition on how to make business decisions.
Over the years, I have found a way to use this business and this platform to talk with people about important issues. To the degree you can bring a sense of purpose to what you do, it makes the relationship with the customer that much more meaningful and purposeful.
He had regrets, of course, but not so many that he would lose any sleep over them. Life surprised him now and then and he didn't much care for surprises, unless he was passing them out. But - what was to be done? You had to deal with the reality, he had learned that over the years, no matter how much you didn't like it
We're in the doing business, or acting business and creating business. We're not in the results business, so we don't have any control over what the result is.
Virtually every company will be going out and empowering their workers with a certain set of tools, and the big difference in how much value is received from that will be how much the company steps back and really thinks through their business processes, thinking through how their business can change, how their project management, their customer feedback, their planning cycles can be quite different than they ever were before.
My father built a small business from scratch with years and years of sweat equity and many, many weeks away from home. He employed about 50 people, and by the end of his working years, the business was highly successful. He became a millionaire.
In our view, though, investment students need only two well-taught courses-How to Value a Business, and How to Think about Market Prices. Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business who's earnings are virtually certain to be materially higher five, ten and twenty years from now.
Yes, business really does change. 400 years ago, corporations were formed by royal decree. 300 years ago, many countries were powered by slave labour, or its closest moral equivalent. 200 years ago, debtors didn't go bankrupt, they went to prison. 100 years ago - well, business is largely the same as it was a century ago. And that's exactly the problem. Business hasn't changed, but today's array of tectonic global shocks demands a different, radically better kind of business. Yesterday's corporations visibly cannot meet today's economic challenges.
There is no business like show business, Irving Berlin once proclaimed, and thirty years ago he may have been right, but not anymore. Nowadays almost every business is like show business, including politics, which has become more like show business than show business is.
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