Billionaire Mark Cuban's Ultimate Advice for Students & Young People - HOW TO SUCCEED IN LIFE

you went to IU yep right now you got a lot of people that say forget about school you know you're all out of school they're idiots oh you think they're River idiot tell me why if you're gonna have and run a business if you don't understand accounting you're already behind the eight ball can't you hire a guy that's that knows everything they still have to communicate to you right I mean there's people that don't understand the concept of you know the difference between profits and cash you know oh your accountant might tell you you're profitable but your cash is going down you know not understanding the breakdown and and when you don't you think you need college to learn that yeah I think you do right because it may not for some people look if you're so self-motivated that you can take an online course in accounting and teach yourself everything you're way ahead of the game in many ways but most people aren't and I'm not saying you have to go to Indiana I'm not saying going to an expensive school I don't care if you go to a community college and take accounting and spend 99 bucks for the class just you know spending the money forces you to be more obligated to do it but accounting finance lesser extent marketing sales at the school office at these are although that's the language of business and so while it's possible to teach yourself these things and while it's possible to hire them when you're starting your own company you don't want to have to spend money hiring an accountant and so your cost of opening up a business drops but even more important and all that that's that's the blocking and tackling that's the language of business you know the thing I learned at Indiana that was more important than anything else I learned how to learn and learning became far more important to me because the one certainty in business is that it's always going to be changing the if you're not always learning if to this minute if I'm not continuously learning if I'm not just absorbing as much as I can absorb someone else is going to kick my ass right so you talked about paranoia the the greatest source of your paranoia should be knowledge if someone else knows more than you do and if you're not learning if you don't know the Lord if you don't know how to learn if you don't have a thirst for learning and acquiring information you're your Sol you know people like to say you know the only stupid questions are the one you once you don't ask them that's not right right because the questions you ask tell me tell whoever more about you than anything else you do because in particular tells me about your preparation if you ask me questions about just basic things that you should have known and you should have down to a science that's gonna disqualify you almost more than anything do you think there needs to be a healthy level of parallax lutely they're nice - oh yeah I mean I I always say you know for every one of my businesses I said what would I do to kick my own ass you're right so whatever business you have there's somebody's trying to put you out of business or somebody trying to to take a bite out of your business and it's better for you to figure out how they're gonna do it rather than they do it and so yeah that's being paranoid and so you have to be paranoid you have to anticipate other people's next moves and you can't ever you know downplay the competition I was at a business plan competition this morning for at a college and they were kind of being dismissive of the competition and so you can't ever do that you know they're out there trying to take you down and they're not just gonna sit still and if you're good really really good you're gonna inspire them to work even harder faster better and so you have to be you know very self aware of what you're good at and what other people are good at and you know a healthy dose of paranoia makes a bit there at me is very helpful if you're not always learning to this minute if I'm not continuously learning if I'm not just absorbing as much as I can absorb someone else is going to kick my ass the greatest source of your paranoia should be knowledge if someone else knows more than you do and if you're not learning if you don't know the look if you don't know how to learn if you don't have a thirst for learning in acquiring information you're you're Sol there's certain guys they have the genetics to jump out of the gym right certain guys you know that you know when they golf they have the muscle memory and and the discipline you know dirt the Biscay 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 seven feet tall and being skilled you know it makes him an amazing basketball player so it's understanding what your skill set is finding the right place to use those skills and then going for it you know will that make you 250 grand it 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've got your best chance because if you don't do it and somebody else does you I have the same work like someone's trying to take it all away from you you know working actually worked like someone's spending 24 hours working 24 hours to take it all away from you and that's kind of the way I look at it what would you say is the number one reason why people fail not necessarily why they make in the complete opposite right lack of brains lack of effort lack of brains lack of effort yeah they just don't do the work they don't learn you know when you walk in the room but when you start a business and you start to talk about somebody you're never in a vacuum with no competition and if there's going to 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 and more about your customers you're going to lose and 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 I mean and so you've got to put in the effort to know more about your industry than anybody else oh and that's 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 you know and you're not gonna outwork me and so you know the combination is usually what kills businesses early on more than anything but my dad was always like if you want something you have to earn it and to his credit he never said no you can't do that so whether it was selling garbage bags baseball cards stamps whatever it was he never held me back and so I think that was as important as anything and you know sometimes being young and trying things are so naive and you don't know any better all you do is learn and if you fail it doesn't matter and so whether I was 9 10 12 1621 the failures were irrelevant and you know whether you're you know 9 12 16 21 22 24 you know I'm sleeping on the couch you know I have a car with a hole in the floorboard you know I'm living like a bum and like a student and so what did I have to lose and so I think that influenced me as much as anything so it you know my dad was like go for it you know don't why not what do you got to lose so do you think like let's just if we put ten guys here you interview them okay you could within a five ten-minute minute interview say this dude is not gonna make it as an entrepreneur yeah I mean I can I can typically tell right I can tell um but by their passion I can tell by their focus I can tell by their preparation you know there's a whole realm of things than any business here you know here's here's the business you're in and here's a thousand things that influence whether or not you're going to be successful you know through my experience and businesses I can put myself in his position and say okay here are nine hundred of the thousand things he has to be aware of and then go through and ask and by how many of those are her issues they've been able to address already that kind of gives me a sense of how hard they're willing to work you know and I can tell by the questions they ask me so all I have to do is say okay what do you want enough but I'm curious if if you and I were buddies in high school so we're 14 years old 15 years old and we know each other uh-huh would I bet on you being who you are today no chance really no chance tell me why I mean I had my I had my good friends and you know we we hung out and I was a hustler there's there's no question I was a hustler even in high school oh yeah and into business in a big way oh but I don't I don't think people saw to me it wasn't like people look to me oh he's he's destined to succeed so in high school you were the fungi were you were you were you always the guy that made people laugh when I was competitive like I was into sports not I wasn't great at it I was just decent um wasn't technology guy I mean I was into learning I was I was I was a business guy I was I was the guy reading about business all the time reading business books all the time you know going to Junior Achievement I was a junior achievement geek why do why were you reading business books because I want that's what I knew I mean I was wired that I always you know I started my first business when I was 12 I was buying and selling baseball cards buying and selling stamps anything I could do to make money I was hustling and trying to do so I was in the business but I not so much were it was all my friends were into it to me so they window do you think there's a proven formula that if a brand rookie guy he's got a lotta ambitious gun out of this rap but not a lot of knowledge and how to do you think if he follows a formula he's guaranteed to make it as now open or no okay so you don't believe there's a guarantee to make it know because who knows you're gonna be competing with so if you put two people both following the same formula both in the same industry right which one wins you know maybe they both can win and both be successful but you know so I don't I don't think there's a default default template for success but I think there's things that you can do to put yourself in the best position to succeed [Music]

Channel: Motivation2Study

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Keywords: study, study motivation, motivation, billionaire, mark cuban, how to succeed, mark cuban motivation, billionaire motivation, mark cuban speech, motivation2study, m2s, m2s mark cuban, mark cuban billionaire, mark cuban shark, mark cuban advice, Billionaire Mark Cuban's Ultimate Advice for Students & Young People, ultimate advice for students, young people, motivation2study mark cuban, mark cuban interview, success, suceed, motivational, motivational video, business, advice, documentary

Id: lrkOdrOD5xA

Length: 10min 38sec (638 seconds)

Published: Mon Jun 15 2020