Entrepreneur and NBA team owner Mark Cuban is one of the most well-known figures in the business and sports worlds. Cuban is also pretty open to sharing advice and tips on how to make money and potentially become a millionaire.
What Happened: Cuban is well known for his ownership of the NBA’s Dallas Mavericks and in recent years for his commentary on the cryptocurrency market.
Cuban shared four rules to making money and becoming a millionaire in an interview with GQ, as shared by CNBC.
“If you want to be a millionaire, you can do it, but there’s a couple things you have to be able to accomplish,” Cuban said.
Rule 1: “Find something you can be good at. Then, be great at it.”
Cuban’s first rule is possibly the most important, as a person needs to focus on their strengths and develop those skills as their focus area. This could be a certain vocation, a sport or creating content. A passion for something can often translate into putting in the necessary work and effort to be successful.
Rule 2: “Know how to sell.”
Cuban sold trash bags door-to-door when he was 12 years old, CNBC reported. This was done by Cuban to earn money to buy sneakers. Cuban bought the trash bags for $3 and sold them for $6. Part of Cuban’s sales pitch was the offer to be available by phone whenever someone needed the trash bags and the offer of delivering them in his wagon.
Related Link: Why Mark Cuban Isn't Running For US President, 'No Patient For That Bulls***'
Rule 3: “Be curious and always learning.”
Finding something a person is good at and becoming great is a key step. Another key step might be to continue learning and getting better at the subject or skill. Cuban has preached over the years that people should be willing to continue learnings and striving to improve.
Rule 4: “When you walk into a room, you (need to know) your s*** better than anyone else in the room.”
Cuban said that this is the important step before starting your own company and being able to “control your own destiny.”
Cuban has often shared that many times great leaders and businessmen fail several times before making it. Cuban said it doesn’t matter how many times you fail, since being right only one time can be the difference in life.
Originally published Jan. 22, 2023.
Photo: Courtesy of Gage Skidmore on flickr
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