"Core competency": Shark Tank investor Mark Cuban talks about what content creators are doing right in transitioning to business

Mark Cuban, renowned investor and entrepreneur from Shark Tank, recently shared his insights on how content creators successfully transition into business during an interview with Jules Terpak on Fishbowl Pod on December 17, 2024. Addressing the central question of what creators are doing effectively, Cuban emphasized the importance of understanding one’s "core competency." He stated,

“You know, it just everybody the content creators have got to learn what their core competency is.”

The Shark Tank investor highlighted that by identifying their unique strengths and leveraging them strategically, creators can expand their influence beyond the confines of digital content.

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Key strategies for content creators transitioning into business according to Shark Tank investor Mark Cuban

Identifying and leveraging core competencies

Cuban highlighted that creators need to recognize what sets them apart and why their audience connects with their content. This understanding serves as a foundation for business ventures.

He pointed out examples such as Jake and Logan Paul, who transitioned from Vine and YouTube fame to establishing successful product lines and entertainment brands like Prime, a beverage brand, and W by Jake Paul. Cuban shared an anecdote about the Paul brothers contacting him early in their careers, stating,

“They sent me an email when they were like 18... and they started giving me [a hard time] back because I didn’t like their idea.”

While the specifics of the initial idea remain undisclosed, Cuban acknowledged their eventual success as a result of understanding their strengths and building a robust team. He noted that creators like the Paul brothers recognized early on that relying solely on streaming or platform-based content is unsustainable. Instead, they diversified by creating tangible products and forming partnerships.

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The role of effective management

Cuban underscored the critical role of good management in the transition from content creation to business. He referenced John Shahidi, a manager who has supported creators such as the Nelk Boys and Theo Von, as an example of someone who understands the industry and helps creators navigate business challenges.

“John has been in sales and developing programs for years,” Cuban explained.

The Shark Tank investor highlighted how Shahidi’s expertise has significantly contributed to the success of the creators he works with.

The importance of management extends to recognizing opportunities, structuring deals, and ensuring creators focus on their core strengths while delegating other responsibilities to capable professionals. This approach allows creators to scale their efforts and adapt to evolving market conditions.

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Adapting to changing technology and platforms

Cuban also discussed how creators must continuously adapt to shifting technological landscapes and platform algorithms. He observed that changes in consumption habits, monetization strategies, and algorithms have compelled creators to diversify their revenue streams.

“Everything changes...The technology changes, how people consume your content changes, how you make your money changes based off of an algorithm based off the platform that you’re using.” Cuban noted.

He cited MrBeast as an exemplary creator who leveraged his audience to launch products like Feastables and MrBeast Burger. By creating independent revenue streams, MrBeast minimized dependence on third-party platforms and ensured greater control over his business ventures.

The Shark Tank investor remarked that this approach allows creators to move beyond the "rat race" of constant content production, describing it as “a horrible business” due to its dependency on daily engagement.

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