The Billionaire Mindset: Mark Cuban's Success Secrets

you know I just care about winning and I'll I'll put winning above ego anytime 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 know I have the same work like someone's trying to take it all away from you and that's kind of the way I look at it 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 how to learn if you don't have a thirst for Learning and acquiring information you're you're so what would you say is the number one reason why people fail lack of brains lack of effort they don't do the work they don't learn you know when you start a business and you start to talk about somebody you're you're never in a vacuum with no competition you know unless you're just extremely lucky 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 um 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 you better know what you're doing otherwise I'm G to kick your ass you know and you're not going to outwork me and so you know the combination is usually what kills businesses early on more than anything whatever business you have there's somebody trying to put you out of business there's somebody trying to to take a bite out of your business and it's better for you to figure out how they're going to do it rather than they do it um and so yeah that's being paranoid and so you have to be paranoid you have to anticipate other people's next mov and moves and you can't ever you know down play the competition you know they're out there trying to take you down and they're not just going to sit still and if you're good really really good you're going to 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 I me is very helpful you got a lot of people that uh say forget about school you know drop out of school so you think they're ID tell me why if you're going to have them run a business if you don't understand a accounting you're already behind the eightball there's people that don't understand the the concept of you know the difference between profits and cash look if you're so self-motivated that you can take an online course and accounting and teach yourself everything you're way ahead of the game anyways but most people aren't and I'm not saying you have to go to Indiana I'm not saying go to an expensive school I don't care if you go to a community college and take accounting and and spend 99 bucks for the class accounting Finance less extent marketing sales if the school offers that these are all the 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 right you're already probably going to have to hire a lawyer to set up uh your your well let me take that if you've gone through all these classes proba don't have to hire a lawyer to incorporate right you probably figure out yourself and so your cost of opening up a business drops but even more important than all that that's that's the blocking of 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 if if you're not always learning if to this minute if 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 I knew I was wired to be excited about business there's certain guys that have the genetics to jump out of the gym right there certain guys you know that you know when they golf they have the muscle memory and and the discipline you know Dirk um lisy 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 7 feet tall and being skilled you know makes him an amazing basketball player so it's 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 50 Grand it depends if you pick the right industry you could within a 5 10 minut minute interview say this dude's not going to make it as an entrepreneur yeah I mean I can I can typically tell right I can tell by their passion I can tell by their focus I can tell by their preparation you know there there's a whole realm of things in 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 and really to me by you know through my experience in businesses I can put myself in his position and say okay here are 900 of the thousand things he has to be aware of and then go through and ask and by how many of those or her um 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 to know and you know when they start saying what should I do and I want them to ask questions but you know people like to say you know the only stupid questions are the one you don't ones 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 downal to a science that's going to disqualify you almost more than anything how does one entrepreneur increase the speed in areas that they can increase there's certain things you can't control way speed of growing your business all right yeah I mean it just depends you've got to know your own skill set right and you've got to know how that fits within your company's life cycle um you know some companies are slow slow grind and you just have to understand that and you've just got to buide your time and still till it starts to click and then grow with it quickly you know if you're trying to release a product that needs to be ubiquitous you've got to go um as fast as you can and and then you know there there's a lot of people will say you know perfection is the enemy of profitability right and that doesn't mean you have to wait till it's a perfect product it it really just depends on what the product is it you know uh a barber shop right is it an app is it um a service is it a product but you know the the key is looking for the lwh hanging fruit what customers are willing to write you a check or commit to it you know so that they're willing to integrate it into their daily lives or integrate it into their daily business business and so getting a commitment either through time or revenue is typically what I look for and so if I can get a commitment then I'm I'm going to be able to learn I'm going to see how they use it do they sustain usage and then once I get the next one you know hopefully it came a little bit faster than the first one then I can ask for referrals and then the next one then the next one and I just try to ramp it up you know when I bought the Mavs we we had no season ticket holder base and so literally it was a matter of just putting list of former season ticket holders and a white pages back then you know on my desk next to my phone and making phone calls you yeah me yeah because if I'm not going to do it how can I expect someone else to do it right so just get on the phone hey this is Mark C I'm the new owner of the Dallas Mavericks you know I'd like to invite you back it's not though this is my business you know that's fine and good right because everybody's got their own goals right and but still I I don't want anybody at the Mavs to be able to say well he's not willing to do the work right there's you know if I walk around I'm picking up all the papers I'm not saying go get get that picked up I'm like okay that's trash I'm picking it up um so but in terms of speed of growth it it's really you got to get that first customer first and then when you get that first what did you learn reiterate get that next customer and then hopefully as you learn more and more through the process then the next one the next one the next one becomes if you and I were buddies in high school say we were 14 years old 15 years old and we know each other would I bet on you being who you are today no chance really 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 um but I don't I don't think people saw to me it wasn't like people looked at me and go oh he's he's destined to succeed I was into sports not I wasn't great at it I was just decent um wasn't technology guy I mean I I was into learning I was I was I was a business guy I was I was a guy reading about business all the time reading business books all the time 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 I was hustling and trying to do so I was into business but I not so much where it was all my friends were into it with me so they wouldn't know go up buy a bunch of baseball cards that I collected and I would charge three times as much and I'd set up on this park bench down in the park down in Scott Township where I grew up and um I'd have these little sales and it was great I made money and I I mean it was you know and I learned as much about business when I was 9 10 and 12 as I I learned any other time I looked at it just hey this is the home Affinity it wasn't like okay these were going to be valuable at some point um so yeah but it was just you know it was just a [Music] means

Channel: Motivation Madness

Views: 10,372

Keywords: motivational video, motivation, motivational speech, speech, motivational, success, inspirational video, motivational speeches, motivational speech for success, be inspired, motivation madness, 2021 motivation, motivation for 2021, 2021 motivational speech, 2021, jordan peterson, jordan peterson motivation, jordan peterson 2021, jordan peterson debate, jordan peterson lecture, jordan peterson motivational speech, jordan peterson speech, jordan peterson 12 rules, jordan, peterson

Id: Z9Tkya0Cc8A

Length: 10min 5sec (605 seconds)

Published: Mon Apr 15 2024