Mark Cuban’s How to Get Rich
I came across Mark Cuban’s interesting post on how to get rich in his blog this month, it generated quite varying comments.
If you are not familiar with Mark Cuban he is one of the few who made a fortune in the internet before the internet bubble bust. Mark Cuban is beyond being a billionaire internet entrepreneur, he is also the owner of the one and only Dallas Mavericks- quoted by Forbes magazine to be the third most valuable basketball franchise in the US.
With his brimming wealth and abundant lifestyle, he admits to be enjoying every minute of it! I mean, who wouldn’t? However, like many self-made billionaires, he was not born with a silver spoon in his mouth. Power, wealth, and riches entailed plenty of sacrifices, risks, and a whole load of hard work! Yes, we have a ton of work to do, but as he quotes: there are plenty of things that we should not do. First, do not waste your time searching for short-cuts. Energy spent searching for the easy way out is a waste. If this was the case, then 3/4 of the population would probably be filthy rich already. That is the logic as to why only a few mighty men make it… there are only a handful who would trod the road less taken. Also, he suggests being on the look-out for scheming people who would do anything to squeeze you dry, up to the last cent. With his insights, Cuban teaches us the value of patience and keenness.
If we should not opt for short-cuts, what do we do then? Simple. Save, save, save. To be able to save significantly, one has to be armed with tremendous amounts of discipline. I think at this point, it is best to clearly distinguish our needs from our wants. Sometimes, we fall into the trap of justifying our wants- just to make them appear like we need them. My friend said we should ask this question several times in our head before we make a purchase- “Do you really really really really really really need it?” If so, then go! The habit of saving gives us that initial push to step into the first part in getting rich- having cash available. Having enough cash can come in handy not only for emergencies, but also for opportunities that may change your fate.
But then again, some opportunities turn out to be losses if you do not get smart enough. Like Cuban, I see smartness to be significantly related with genuine interest. Thus, if a person is smart with computers, it is but logical that he prefers an Apple i-book over a set of paint brushes. Similarly, it would be wise if we engage in something that we love to do. Otherwise, getting rich would be a toil and a pressure-ridden experience. In this scenario, it is possible that you would not even enjoy your riches anymore since you might die of stress even before reaching your destination.
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