“Shark Tank” host Mark Cuban isn’t your average billionaire. In fact, Cuban says he communicates daily with everyday entrepreneurs who reach out to him.
“My email is pretty public, so I get pitches via email and I’ll respond directly,” Cuban said on the “Raising The Bar” podcast from couple Alli Webb, co-founder of Drybar, and leadership coach Adrian Koehler.
Cuban said he probably gets 750 to 1,000 emails a day from people pitching ideas. But catching his eye is the tricky part, he said. “Remember 90% are delete, delete, delete, glance and delete.”
In fact, Cuban said it typically takes him about two seconds to decide whether respond to an email or to delete it.
“I’ll read the first paragraph or two and if it is something that catches my attention, and is interesting and I think is forward-thinking, then I will just start peppering them with questions,” Cuban said.
If the person is able to answer his questions and “teach” him something, he then turns it over to his team to do more due diligence. “I have different people with different types of expertise and I’ll ask them to dig in and cover the bases that I’m not fully versed on,” Cuban said.
Cuban said he typically dedicates two to three hours to going through email and “another couple hours” responding to emails.
Cuban, 62, who has an estimated net worth of $4.2 billion, according to Forbes, also provided some tips on grabbing his attention.
First, “just get right to the point” in the email, Cuban said. The “longer the backstory, the worse the deal.”
Read more at CNBC.