Dallas owner Mark Cuban stands by the Larry O'Brien trophy before the Miami Heat vs. the Dallas Mavericks NBA basketball season opener at the American Airlines Center in Dallas on Sunday, December 25, 2011. / mug - mugshot - headshot - portrait / (Louis DeLuca/The Dallas Morning News)

American businessman, investor, film producer, author, television personality and philanthropist. Those are just a few of the labels you can tag onto Mark Cuban. The best adjective to describe him would be successful. He’s the owner of the NBA’s Dallas Mavericks, Landmark Theatres, and Magnolia Pictures, and the chairman of the HDTV cable network AXS TV. He has an estimated net worth of US$3 billion. We are not claiming that money is a perfect barometer for success BUT it definitely shows a keen and sharp business mind. Let’s see how Mark Cuban made it to the top of the business world.

1. Now is the time
His first step into the business world was at age 12, when he sold garbage bags to pay for a pair of expensive basketball shoes.

2. Be passionate
Rather than attend high school for his senior year, he enrolled at the University of Pittsburgh. During college, he had various business ventures, including a pub, disco lessons, and a chain letter.

3. Don’t make excuses
He was fired as a software salesman less than a year after being hired, after meeting with a client to procure new business instead of opening the store.

4. Learn from history
Cuban started a company, MicroSolutions. In 1990, he sold it to CompuServe—then a subsidiary of H&R Block—for $6 million.

5. Enjoy competing
In 1995, Cuban started Audionet. With a single server and an ISDN line, Audionet became Broadcast.com in 1998.

6. Know your business
By 1999, Broadcast.com had grown to 330 employees and $13.5 million in revenue. In 1999, during the dot com boom, Broadcast.com was acquired by Yahoo! for $5.7 billion in Yahoo! stock.

7. Be brutally honest with yourself
The Guinness Book of Records credits Cuban with the “largest single e-commerce transaction”, after he paid $40 million for his Gulfstream V jet in October 1999.

8. Know your strengths and weaknesses
On January 4, 2000, Cuban purchased a majority stake in the NBA’s Dallas Mavericks for $285 million.

9. Be unique
He’s also a “shark” investor on the television series Shark Tank.

10. Be yourself
Cuban wrote an e-book, How to Win at the Sport of Business, in which he chronicles his life experiences in business and sports.