Discussing Two Mark Cuban Beliefs About the Value of Complementary Skills in a Business Partnership
A exploratory conversation with four leaders
Billionaire entrepreneur and investor Mark Cuban recently expressed what he values for successful business partnerships. Communication Intelligence, the Newsletter, engages in a conversation about two specific points that Cuban makes.
He was talking about his new partners with the National Basketball Association’s (NBA) Dallas Mavericks, to whom he sold his majority stake of the franchise, staying on with the organization to run the basketball side of the business.
In talking about the new majority owners, he said the following:
"They're great at the things I'm not good at."
and
"That's why it's a good partnership. They're not me, and I'm not them."
Eye-catching statements of respect and appreciation. Four leaders have a free-flow discussion about it here today.
Let’s look at his first comment — "They're great at the things I'm not good at." It sounds like wisdom gained from experience and a difference maker for breakthrough and success.
“His emphasis on complementary skill sets is a fundamental principle for business growth and innovation,” says Syed Lateef, eight-figure Airbnb Coach. “The essence of collaboration lies in recognizing that individual limitations are not weaknesses when paired with others’ strengths.”
He elaborates with an example. “A visionary might excel in big-picture thinking but need help with detailed execution, where a partner with operational expertise becomes invaluable. This partnership dynamic catalyzes growth as each party fills gaps, creating a well-rounded, effective team,” Lateef says.
“Mark Cuban's acknowledgment of his new partners' strengths in areas where he may not excel is a fundamental aspect of successful collaborations,” says Nazar Tymoshyk, CEO and founder of UnderDefense, a security-as-a-service platform that provides comprehensive coverage. “In business, especially in dynamic fields like technology and cybersecurity, no one person can be an expert in everything. Having a team where skills complement each other ensures that all aspects of the business are handled proficiently. This diversity of expertise not only fills gaps but also fosters innovation.”
He talks about how this works differently and critically well.
“Each team member brings a unique perspective, leading to more creative solutions and strategies, Tymoshyk says. “This is crucial for significant growth and success, as it allows a business to adapt and excel in multiple areas.”
“Having a co-founder who can focus on your weaker areas while you can focus on your stronger areas is really a win for both of you,” says Tim Wolski, an adjunct professor of marketing and entrepreneurship at Bryant University and chief marketing officer at OakEx, an AI powered marketplace for CRE investors.
“When team members have varied skills, they approach problems from different angles, leading to more creative and effective solutions,” says Josh Amishav, founder and CEO at Breachsense, a company that monitors monitors the open, deep and dark web for potential data breaches within an organization.
“Each member can focus on what they're good at, which increases the overall quality of work. Not to mention, this kind of environment allows team members to learn from each other's skills.”
Not all leaders may be comfortable with a partner being good at something in which they and their team are not. It requires something special to feel secure and confident.
“Leadership comfort with this dynamic stems from self-awareness and humility,” Lateef says. “Recognizing one's limitations and appreciating others' strengths shows maturity and confidence in leadership. It requires a shift from seeing leadership as having all the answers to facilitating and integrating diverse expertise.”
“It also involves a willingness to learn and be curious about areas outside one's expertise, which enriches the leader’s overall understanding and decision-making capacity,” Tymoshyk says.
“Ideally, you only become partners with someone you trust. That makes trusting someone a lot easier,” Wolski states. “Sometimes that isn't always possible. If you don't already know and trust your partner, have a series of very clear conversations about duties and expectations and write them down.
“It is also useful to have a series of milestones written down that you can compare what is actually happening to expectations. For example, if your partner is in charge of setting up the technology, then you should have clear milestones of when the email will be set up, when the website is going to be functional, when AP systems are going to be functional, etc. Then have a series of meetings comparing results with expectations.”
“Leaders need to recognize their strengths and weaknesses and see the value in others' abilities,” Amishav says. “Trusting in your team's competence is crucial, as is focusing on the organization's overall goals rather than personal pride.”
Regarding Cuban’s other statement — "That's why it's a good partnership. They're not me, and I'm not them” — it may not be that differences are an absolute to success or stratospheric growth yet they can be helpful or critical if certain strengths necessary are not your own and you can find them with someone who whom you have mission "chemistry" or mission agreeableness.
“Cuban's reflection on the uniqueness of each partner in a successful partnership resonates deeply. It's not about sameness but about a harmonious blend of differences,” Lateef says. “These differences create a powerful force when aligned with a shared vision or mission. This alignment is not about uniformity in skills or perspectives but complementary strengths working towards a common goal.”
Partnerships are ideally about added value to go beyond the current reality.
“The power of a partnership lies in the balance and integration of diverse skills, united by a shared mission,” Lateef concludes.
“Cuban's statement reflects a critical truth in business partnerships,” Tymoshyk says. “While shared goals and values are essential for alignment and direction, differences in skills and perspectives are equally vital. These differences allow for a more holistic approach to problem-solving and strategy development.
“However, it's not just about having different skills but also about how these skills and perspectives complement and enhance each other. A good partnership leverages these differences to create something greater than the sum of its parts. Finding the right balance between similarity in vision and diversity in execution is a very important thing.”
“Brainstorming with someone who always agrees with you isn't very productive,” Wolski has learned. “Someone with a different perspective and datapoints are able to ask you questions you hadn't thought of and consider different answers than you ever would have found on your own.
“Ideally, you and your partners will agree on why the entity is in business and what the overall vision for the business is....i.e. mission statement. Other than that, having people with different points of view and different strengths is a net positive for the business.”
“Cuban's comments about the value of having partners who are not like him really highlights the importance of differences in a partnership,” Amishav says. “These differences bring complementary strengths, ensuring that all necessary skills are covered within a team. Diversity prevents an echo chamber, where everyone thinks the same way, which fosters a more innovative decision-making process.”
Communication Intelligence, the Newsletter is brought to you by the publisher of Communication Intelligence magazine.
Want to promote yourself and your business in Communication Intelligence, the Newsletter? Contact me at comm.intel.newsletter@gmail.com and communicate your value and offering — $300 for an attractive color ad in one issue, $500 for two issues (I’ll put two ads of yours in one post for $600) or choose $2,000 a month (you get an attractive color ad placement in every new article during that time).
The power of partnership lies between the balance and integration of diverse skills. That is why is important the value of complementary skills in a business partnership. Wisdom that is worth sharing. I love it great article.