If you got the opportunity to learn from one of the most popular billionaires on the planet, would you take advantage of it? You’d be crazy not to. The opportunity to gain insight into the mind of Mark Cuban was something I couldn’t pass up. Here are 5 things all young entrepreneurs can learn from his e-book.
1. “To this day, I feel like if I put in enough time consuming all the information available, particularly with the Internet making it so readily accessible, I can get an advantage in any technology business. Of course, my wife hates that I read more than three hours a day, but it gives me a level of comfort and confident in my business.”
In March, I wrote an article titled Great Entrepreneurs are Always Learning. Before the 30th page, Cuban stressed his own desire to keep learning. He mentioned always being on the pursuit for new ideas. If someone with the stature of Mark Cuban believes in the importance of continual learning, we should probably do the same.
Mr. Cuban is a billionaire, investor on ABC’s Shark Tank, and the owner of the Dallas Mavericks. In other words, he is extremely successful. If he is putting in the time to learn and continue to get better, it IS important!
2. “Anyone could buy the same books and magazines. The same information was available to anyone who wanted it. Turns out most people didn’t’ want it….Most people won’t put in the time to get a knowledge advantage.”
To be honest, I really hesitated in reviewing this e-book. Not because I didn’t like it. I loved it! I was hesitant because I know the value it provides. I believed the fewer people that read it, the better. I wanted the advantage. After reading through a 2nd time though, the quote above from Mr. Cuban stood out. I realized that my recommendation wouldn’t matter. Most people aren’t going to act, buy, and learn.
We need to continuously be searching for an advantage. If it’s from a website, an experience, or an e-book written by a billionaire, it’s worth it! If Mr. Cuban want’s the advantage, we should too!
3. “It’s not whom you know. It’s not how much money you have. It’s very simple. It’s whether or not you have the edge and have the guts to use it.”
It’s such a competitive world. With the Internet, it’s not extremely difficult to start a business. The Internet has created so much noise that it’s tough to break through. We have to have an edge! Without one, there is a good chance we won’t be around long. As important as having an edge is, if we don’t have the guts to act, it won’t matter. Having the best DNA or business idea in the world is useless if no action is taken.
4. “Never settle. There is no reason to rush.”
We live in such a “NOW” society that it’s hard to stay patient. It’s kind of ridiculous if you think about it, but our society forces kids to make career choices at 17-18 years old. Cuban’s advice was to, “Go out and try as many things as it takes to find what you may be destined to be.” When discussing settling, Cuban was not only talking about business. Possessions, relationships, and career decisions are all areas where he believed people settle.
Settling may lead to security, but it won’t lead to happiness.
5. “It doesn’t matter how many times you fail. It doesn’t matter how many times you almost get it right. No one is going to know or care about your failures, and neither should you. All you have to do is learn from them and from those around you because…All that matters in business is that you get it right once.”
Those that watch Shark Tank probably remember when Cuban said something similar to an inventor whose product was failing. It’s something that really that I’ve really taken to heart. All it takes is great execution on one idea. I think we make it too complex sometimes. We view failure as a reason to quit and not a reason to learn.
Steve Jobs got fired from the company he started (Apple). Instead of hiding, he founded NeXT and eventually came back to Apple. One iPod, iPhone, and iPad later, he is considered one of the all-time great entrepreneurs. Don’t forget the financial failure of Sean Parker with Napster. I think we would all trade that failure, for a percentage of Facebook.
I recommend How to Win at the Sport of Business to all young entrepreneurs. I learned much more than the 5 things I listed. Have you read this e-book? Would you agree?
Michael Fear is the Founder & CEO of getbettertoday.com. His mission is to help people understand that getting better is not an option, but a necessity. Chat with Michael and Get Better Today on Twitter: @MichaelEFear & @GetBetterTday.Subscribe to the Podcast