CEO and celebrity investor Mark Cuban is a businessman at heart.
The Dallas Maverick’s owner has been running companies and investing in startups for decades. His latest venture is the online pharmacy Cost Plus Drugs, which sells medication at just a little more than cost.
Speaking at the Detroit Regional Chamber of Commerce’s annual Mackinac Policy Conference last week, Cuban said that diversity and inclusion are just good business.
“It means taking the people that you’re selling to and making sure your workforce looks like them, and making sure you can reflect their values and being able to connect to that,” he said. “That’s what works for me.”
Responding to a Twitter user June 3 who asked if it was better business practice to hire the most qualified person for a job, regardless of what they look like, Cuban elaborated, saying it all comes down to understanding “what’s best for your business.”
“It’s amazing how much we value a person’s social graph on social media without regard to ‘credentials’ because we think their reach can create value,” Cuban wrote. “But we ignore that same reach when it comes to hiring if their reach isn’t into a demographic we can relate to or is non-traditional. That’s a mistake.”
Cuban explained that the “most-qualified” candidate is the one who will get your business the best results, saying that the “soft” skills of a candidate are often more important than “traditional hiring metrics.”
“There is lots of value where people don’t look like you,” he said, “and a big part of that value is because fewer competitors are selling there.”
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