4. On working with others
Cuban also suggests that it's important as a budding leader to be empathetic and get a sense for the thoughts and feelings of those around you. "Pay attention to what's happening around you," says Cuban in an interview with Men's Fitness. "Don't think there's just one way to do things — context is everything."
5. On how to be a great leader
Being a strong leader isn't only about focusing on personal achievement. A lot of it is about helping your employees.
"Reduce the stress of the people around you," says Cuban. "If you walk in the room and the stress levels go up, you're doing it all wrong — and vice versa."
6. On his most common mistake as a manager
Cuban admits to having made mistakes as a leader.
One of his shortcomings? "Trying to control everything," says Cuban. "That never works."
7. On how to inspire
Becoming an inspiration to others is something Cuban says is key.
Especially for young, effective leaders, he says it's essential to have "the ability to define a vision — to know how to make it clear to everyone how you'll get there and how your corporate goals connect with the personal goals of those you lead."
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Disclosure: CNBC's parent company, NBC Universal, owns the exclusive off-air rights of "Shark Tank."