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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Comments
I’m still not seeing Cuban as a tech geek, or even a technically oriented kinda person. He reeks of salesman, publicity hog and otherwise ‘A’ type person.
From what I’ve read about him the main and salient point that comes across is his energy. He has a ton of it. At least right now. But that’s standard issue for type ‘A’ people. I work with many of them and they all are in the same, white collar workmanlike jobs as the rest of us. They lack, however, the breaks Cuban had and, or course, the chance to make that break pay.
Most of us fight the day in and day out of office work, slugging it out to get a project done, a report sent out or dodging incoming and side damage from the ever present in-house office political machine. We use the same grit, energy and in a lot of cases, skill, Cuban did. But, we weren’t selling. We’re working.
Which is why Cuban is involved in sports now. He’s has to keep moving, or competing as an outlet for all of that energy his has. It’s a passion for him, not just a gentleman’s side bar. His sports owner trajectory would put him in the same class as Steinbrenner.
After sports I bet you’ll see Cuban pop up again and again in other highly visible (and money making) projects. Always selling, always selling. A high-end pitchman. Maybe politics. Maybe the new ‘green’ tech sector.
Who knows?
Bet his luck runs out someday, down the road. Or not?
I totally agree with Cuban not the tech geek kind. I think his strengths relies on his marketing skills of a tech product and he can sell it to people by taking advantage of the situation. Example is the dotcom era business which everyone is so hyped that those early dotcom entrepreneurs made alot of fortunes, there are dozens more who earned more than Mark Cuban selling their company but his face is more prominent because of the publicity. So maybe his a marketing genius and not the tech genius like how he portrays himself.
I am trying to get into contact with mark cuban, i believe that i have an idea that could help, benefit, and better the people of the united states. i truly know it’s an amazing idea. if anyone could help email me at brycelrichardson@yahoo.com
thanks