獨行俠老闆－馬克庫班 分享財富密碼！NBA球隊賺不賺錢？賣掉公司後買了「這個」讓他更賺｜名人專業問答｜GQ Taiwan

I'm Mark hbin let's answer some questions from the internet this is Mogul [Music] support at Young Onre Hub what will be your best advice to those who are thinking of leaving their full-time jobs to become a full-time entrepreneur save your money first don't just leave unless you know what the hell you're doing we hear all these stories about all these people who quit their job started a company and made all this money what you don't hear are the stories of the people who quit their job starting a company and failed miserably and are now working at a job they hate before you quit be prepared know what you're doing save your money have at least 6 months to live off if you can and then maybe you're ready to start your business Allen Bramley question do billionaires create jobs the answer is no entrepreneurs create jobs I'm an entrepreneur and I do my best to create jobs but the reality is in order to become a billionaire the one thing you have to have is luck any billionaire who tells you they could just do it again no you have to be lucky maybe you have a rich parent question I get asked a lot is should billionaires pay more in taxes yeah we should pay more in taxes I would not be in this position without this country because nothing happens that's great whether it's Health Care teachers roads you name it without people paying their taxes it may be painful when you write that big check but just think about how you got there one of the most patriotic things that you can do when you're wealthy is pay your taxes at jcba YC you have 6 months to make as much money as possible all you have to start with is a phone and $500 in cash what are you doing jcba ayc that is the best question I have ever been asked in my entire adult life I am really really really good at sales I'm going to find a sales job because I already know that that if I'm on to my last $500 and all I have is a phone I am going to get that job and I'm going to learn more about that industry than anybody on the planet and I'm going to set a commission as high as I possibly can and 3 months in when I've demonstrated that I am the best salesperson in the history of that company I'm going to walk into my boss's office and I'm going to tell him or her you're either going to pay me this amount of money to keep me or I'm going to start my own business selling this stuff that is exactly what I would do everything always goes back to sales no matter what an jan1 if you buy shares of a sports team is it a gamble or an investment it's a gamble because you're a minority shareholder you have no rights at Mike 27485 92x question is the customer always right no the customer is rarely right that doesn't mean you don't have to keep them happy do customers make choices of course they make choices we're all customers we know how we choose what we buy and what we don't buy but the reality is you don't spend a minute of your day wondering what the next product should be at 7-Eleven do you the customer is not the one who comes up with the ideas it's the entrepreneur that comes up with the ideas Ed jamus wants to know what are some great businesses that people don't realize I'm going to tell you a couple easy off the top of my head that if I wanted to start a company I would seriously look at this number one Alexa Alexa has so many capabilities and so many people have them but they have no idea how to use any the programming scripting capabilities of Alexa you can go and start a business where you could go to your neighbors to car dealerships to businesses and show them for 50 bucks an hour or more how to use their Alexa in their homes to save energy to save time in their businesses and two that leads to the same thing happening with large language models like chat GPT there's new features coming out in chat GPT and its competitors every single month so if you just get involved and stay ahead you're going to be the person in demand and selling your services on how to prompt chat GPT to help a business or even to tutor kids on how to best use it for school at cinemod is back if you could change one thing about the sports industry college or Pro what would you change dumb question I changed the officiating Ash Crypt you think crypto is dead yes or no no hell no but I do think crypto has some problems number one most people when they think crypto they think speculation that's not what crypto is really about number two CP crypto is really about creating new applications that make things better and easier what crypto is missing is that one application that Grandma really wants to use think back to the iPhone it came out in 2007 but it wasn't until the best apps like Instagram and Snapchat and Facebook went mobile that the App Store and the iPhone really took off crypto is still waiting for its Instagram moment it won't be all that much longer where we'll be able to use an nft as a ticket once the ticket is resold we don't make a a penny the scalpers make all the money if that ticket was an nft and it will be in the future every time it's resold the original ticket holder can make some money the team can make some money you can't do that with physical tickets you can't do that with traditional digital transfer you can do that when you turn it into crypto or an nft when that happens crypto go up at blessing 91077 312 why do most businesses fail number one sales no business has ever succeeded without sales period end of story number two preparation when you go to start a business have you done all the homework to know about your industry your competition your products the profitability your customer base the demographics you need to know these things three effort it is not easy starting and running a business it's hard if it was easy everybody would do it and four brains you got to be smart you got to learn this stuff you got to put in the effort you have to be curious in order to be successful at business you do these four things blessing and you'll be okay company doesn't do them they're in deep trouble at ghost 93X everybody losing money in nfts why are you still here LOL I got a handy dandy graph this is the nft market and this is the volume of sales basically it sucks you know how many other Industries have sucked there was a time after the Internet stock market crashed where Amazon was selling for $5 a share Microsoft was selling for hundredth of what they sell right now you ever been in the trading card industry that Mickey manle card that you know Steph Curry card goes up goes down go up go down the same thing is happening to nfts now there are some people that would tell you that this is the best time if you're an nft collector to buy an nft I'm not going to tell you what you should or shouldn't do other than to say with nfts the best time to buy is when you're a collector and you love the nft don't buy to speculate I'm gonna say it to you for the people in the back [Music] don't speculate yeah you know what happens to speculators they get their ass handed to them I can stare at my Mutant Punk all day long cuz I collected it I'm not paying attention to all the things that happen on a day-to-day basis and you shouldn't either because someday we're going to turn around and you know what you're going to say to yourself you're going to say to yourself I should have bought those damn nfts when they were next to nothing at Tamar shahan what's something you wish your younger self knew before starting a business I wish I would have known to respect the people around me and to be nice to the people around me that worked for me more because it's stressful starting a business and I think too often I took that stress out on the people around me and that was a mistake at Earnest earnst 4 name image likeness you get paid for that dear God what is wrong with the NCAA Ernest you just busted your ass ask for the first 17 18 years of your life to be great at something you get recruited by a school and somebody there wants to pay you for your name image and likeness now if that same kid was a violinist and they wanted to pay them to do an ad for violins You' be like yeah when an athlete makes it to the top at their level and Advertiser a sponsor wants to pay them yeah let them earn the rewards of their efforts earnest n iil hell yeah at becoming a mirror who is the best shark on Shark Tank and why is it Mark cubin I'm the best shark on Shark Tank cuz I've been there I've been broke I've been fired started a business with nothing built a business into something so when you're on that carpet pitching to us not only am I thinking to myself will I invest but I'm also trying to come up with a way that I can help that entrepreneur because I know the challenge the pain the anxiety of running a business and if I can make your life a little bit easier with a good ide idea that's what I'm going to do at Turner orinks what is a business buzzword that annoys you the most I'll go first disruptor cohort there's no reason to ever use the word cohort when you can use the word group a cohort is a group of people say group you sound stupid when you use the word cohort because you're trying to sound smart always use the simpler word at bash terminal can anyone explain to layman terms what is series ABCD funding I don't know why people apply these letters just the chronological order in which you raise money that's it preed seed series a series B series C Series d That's it it can come from anybody come from Mom it come from Dad it can come from your Aunt your uncle a venture capitalist what is Venture Capital venture capital is a vulture that sits in an office telling you how smart they are and how they're going to give you money in exchange for too much of your company to give you too little support to end up trying to push you to do things that you don't want to do just so they can get their money back but other than that I have no problem with them at searing what is the most common mistake you see entrepreneurs make they focus completely on raising money the less money you raise the better because that's how you own more of your company because when you raise money you have to give away part of your company so the biggest most important rule is understanding that raising money is not an accomplishment it's an obligation at mahavir Jin what are the three daily habits or practices that have significantly contributed to your success read read read read read got to learn two be curious changes you got to always be curious you got to know what's up you got to stay on top of it three be agile because the shit's changing because you're learning all the new stuff that you're curious about you always got to be agile and be able to adapt and for abs always be selling you got to always be selling because that's the way businesses work you do those things you're going to crush it and the four that was a bonus I said three things I can't count at Joe bass HD what is the difference between cost per acquisition CPA and customer acquisition cost CAC let's just start with cost for acquisition this is the amount it cost you to acquire a customer then there is customer acquisition cost that is your cost to acquire a customer so the only thing missing between these two is the equal sign between them to tell you that they are pretty much the exact same thing typically what happens is people will go and advertise on social media platform and they'll spend $1,000 and after the week or whenever it is till it runs out they'll look to see how many customers that they have let's just say they have 100 customers then you just do the math 1,000 divided 100 gives you for all the math wizzes out there $10 now what is that $10 that's your customer acquisition cost or cost for acquisition at keep on trucking 78 as a business owner when is it time to call it quits walk away give up sell move on cut your losses you get the idea that decision typically is going to be made for you you can't pay your bills you can't pay your employees you can't pay your bank loan and somebody's coming in and you look Mark the game's over it's the worst feeling ever just because the hits the fan and things are going wrong that's never the time you only close up shop when you have no choice or if someone offers you so much money it's just like hell yes then you look at selling them are you ready to take another step in your life is the most important thing to you running that business regardless of how much it's worth or is there so much money involved here that you can change your life like when I sold my first business I retired and bought a lifetime pass in American Airlines the most valuable asset to me wasn't the money it was the time the money could buy you have to make your own decision on what's most important to you at g167 28893 did you ever want to give up what did you do to get out of the funk I remember when I started my first business I had no sales and I remember being terrified I mean the anxiety was through the roof but I just you know reminded myself why I started and reminded myself that I made a shitty ass employee I was never going to be good at working for somebody else I was allow to employee because I was a know-it-all right I I was an entrepreneur at heart and I always thought I had a better idea I worked for a bank I called up an executive VP said we want to have a happy hour where you talk about what it's like to work at the bank I thought that was a really cool idea and I was taking initiative my boss brought me into his office who the hell do you think you are who gave you permission to do this you know you just started here what the I had a tear coming from I mean I'd never felt anything like that before and I just knew then that I was not destined to be an employee at obial Kenobi why the is medicine so expensive in America this is bull yes it is OB ra Kenobi and what I've learned in disrupting Industries when an industry's been doing it the same way for decades that's one green flag for me to get in when that same industry does everything possible to complicate the business so no one else can get in that's a second green flag for me to get involved third when it's so complicated but when you look at it it's like this is a simple business you know what the prescription drug business really is somebody makes the drugs somebody buys the drugs someone prescribes the drugs someone sells the drugs that is it that's the whole prescription drug industry and so when I saw that I'm like this shit's going to be easy not cheap but easy to do and so we started cost plusus drugs.com in January of 2022 when there's an industry that's doing it the same way forever making things more complicated and everybody hates them that is the best place to start a business so you too can dunk on whoever you choose to dunk on so those were all the questions for today thanks there were some amazing questions I really enjoyed them if I can leave you with any words the only reason to consider being an entrepreneur starting your own company investing is to make your life better just enjoy your time have fun do your best good things will happen thanks for watching Mogul support

Channel: GQ Taiwan

Views: 108,483

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Id: SWQS5pqC5s0

Length: 15min 22sec (922 seconds)

Published: Sun Nov 12 2023