Mark Cuban, serial entrepreneur, investor, and owner of the Dallas Mavericks, knows an MVP when he sees one.
Cuban made Shark Tank history when he invested a million dollars in BeatBox, a small startup beverage company from Austin. The product was far from earth-shattering. BeatBox produced inexpensive fruit punch style wine, packaged in cardboard, printed to look like an 80’s boom box. Kevin O’Leary spat out his sample, muttering that it tasted like something that rhymed with “spit.” Cuban, nevertheless, saw an MVP.
After the Shark Tank episode aired, I was at a gathering with other entrepreneurs. They scratched their heads, pondering what just happened. After all, there wasn’t anything exceedingly innovative or universe-denting about the product. Yet Cuban went “all in.”
M is for Mantra
While the other Sharks sharpened their pencils and calculated their usual valuations, Mark Cuban wrapped his head around the real value–especially the value that the customer was actually buying. “You guys don’t sell wine,” he said. “You sell fun!” Mark Cuban had invested in a mantra.
It’s Not Over
Cuban’s million dollar investment in 2014 was a huge victory for BeatBox. However, it proved to be just the beginning of an innovative journey that is still being written. Like any MVP, BeatBox has experienced both peaks and valleys. Ultimately, the same innovative principles on which they were founded have guided them through the valleys and upward to the sustained growth that they are experiencing today.
Become an Innovation MVP
BeatBox is a true innovation MVP. Our free email course, “Become an Innovation MVP!”, reveals the three essential principles that launched BeatBox, convinced Mark Cuban to “go all in” with a million dollars, and guided the BeatBox team to success.
In our free email course, “Become an Innovation MVP!”, you’ll learn about how BeatBox was founded and grew through the ups and downs to achieve and sustain success. Most importantly, you’ll receive practical steps with each lesson to transform your own situation and become an innovation MVP!
The principles described in this course apply to individuals, teams, startups, and established organizations. Each lesson contains actionable steps that you can use immediately to transform your situation. I guarantee that you will get much more than you pay for with this FREE email course! Sign up below:
Become an Innovation MVP!