Mark Cuban's GREATEST Advice For Young People

Mark Cuban's GREATEST Advice For Young People

Legendary entrepreneur and business mogul Mark Cuban gives some advice to the younger generations as to what it takes to succeed in the field of business.

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Speaker: Mark Cuban

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Transcript:
But whatever industry you pick,
if you outwork everybody,
if you try to be a little smarter than everybody,
if you try to be a better salesperson than everybody,
if you try to be better prepared than everybody,
you got your best chance, because
if you don't do it
and somebody else does...
-Out of all the reasons in the world, and I've read your book, you've got the talent,
all these keys to success etc.
What would you say is the number one reason why people fail?
Not necessarily why they make it, the complete opposite.
-Lack of brains, lack of effort.
They don't do the work, they don't learn.
When you start a business and you start to talk about somebody,
you're never in a vacuum with no competition.
Unless you're just extremely lucky.
And if there's gonna be competition, that means
somebody else knows your business as well as you do when you get started.
And if you walk into a competitive environment and they still know more
about the business than you do, more about your customers, you're gonna lose.
But most people don't consider that, they don't do the work,
they don't learn more about their industry,
they don't know even about their business.
You've gotta put in the effort to know more about your industry than anybody else.
And that's the brains part and that's the effort part as well.
Because, look, if you're competing with me,
you better know what you're doing, otherwise, I'm gonna kick your ass.
And you're not gonna outwork me.
The combination is usually what kills business early on more than anything.
I don't think there's a default template for success
but I think there's things you can do to put yourself in the best position to succeed.
I talk about the one thing in business you can control is effort.
Going out there and sales curing all.
I think and I agree with your point that
there are things that if you do them, you put yourself in the best position to succeed
but if you just watch walk into a buzz saw and somebody else is doing them a little bit better,
you know what happens.
-Even if you put a formula for me, I followed it,
will I eventually be able to make a quarter of a million a year?
If I followed a plan that you put, I'm not talking about 100 million...
-Yeah, but you've got to pick where too.
I was at a business plan competition and they were talking about making big money
reselling travel plans
and making $3 in affiliates, commissions.
It's just not gonna happen.
You have to be smart.
You were talking earlier about entrepreneurs being born or built.
I knew I was wired to be excited about business.
How or why I don't know.
And there are certain guys that have the genetics to jump out at the gym.
There's certain guys when they golf, they have the muscle memory and the discipline.
Dirk Nowitzki may not be the most talented guy in the NBA
but his discipline and his focus to do what's necessary to be successful,
he's willing to do, and combine it with being 7ft tall and being skilled,
it makes him an amazing basketball player.
So it's understanding what your skillset is,
finding the right place to use those skills and then going for it.
Will that make you 250k? Depends if you pick the right industry.
But whatever industry you pick,
if you outwork everybody,
if you try to be a little smarter than everybody,
if you try to be a better salesperson than everybody,
if you try to be better prepared than everybody,
you got your best chance, because
if you don't do it and somebody else does...
I have a saying, "work like someone's trying to take it all away from you."
Work like someone's spending 24 hours working to take it all away from you.
And that's kind of the way I look at it.

By: The Outcome
Title: Mark Cuban's GREATEST Advice For Young People
Sourced From: www.youtube.com/watch?v=8-ynIjpxGq4

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