Home Business Mark Cuban on if LaVar Ball brought his $495 basketball shoes to Shark Tank: ‘We would love it’

Mark Cuban on if LaVar Ball brought his $495 basketball shoes to Shark Tank: ‘We would love it’

darudemagMay 19, 2017BusinessComments Off on Mark Cuban on if LaVar Ball brought his $495 basketball shoes to Shark Tank: ‘We would love it’

Dallas Mavericks owner Mark Cuban recently joined The Dan Patrick Show to discuss a variety of basketball-related topics. Here are some highlights:

How would Shark Tank deal with LaVar Ball if he came on and was pitching a tennis shoe for $495?

Cuban: Oh, we would love it. I mean, he’d be confident. We always support entrepreneurs. He’d have a high-end product with lots of margin, but then we’d ask him about his sales. It’s all great to talk, but what are you selling? And if you’re getting any traction, we’d probably be interested.

He’s developed brand awareness…

Cuban: Yeah, but brand awareness – there’s two ways to develop brand awareness. You can get a lot of PR or spend a lot of money on marketing, or you can generate brand awareness because you have a loyal, growing, organic customer base. I tend to like the latter version.

On Shark Tank, we see it all the time. Someone comes on the show. They get the obvious burst of PR. They get a big burst of sales, but from an execution standpoint, they still don’t know how to sell. They don’t know how to go out and acquire customers. And so, execution-wise, they’re going to have challenges. Just because you have a lot of PR doesn’t mean you build a brand, and it certainly doesn’t mean you have a successful business. So, what happens now is really what’s key for their business.

What would you advise Lavar Ball?

Cuban: I don’t know. I mean, I don’t know enough about their business. You know, $495 tennis shoe – if they’re selling them, I say keep on doing what you’re doing, and if they’re not selling them, I say you might want to take a second look at what you’re doing.