recent
Hot News

OUTWORK EVERYONE | Brutally Honest Business Advice from Billionaire Mark Cuban



OUTWORK EVERYONE | Brutally Honest Business Advice from Billionaire Mark Cuban

OUTWORK EVERYONE | Brutally Honest Business Advice from Billionaire Mark Cubanwhatever industry you pick if you outwork everybody if you try to be a little smarter than everybody if you try to be a better sales person than everybody if you try to be better prepared than everybody youve got your best chance because if you dont do it and somebody else does you know i have the same work like someones trying to take it all away from you you know working i actually work like someones spending hours working hours to take it all away from you and thats kind of the way i look at it
 what would you say is the number one reason 
why people fail lack of brains lack of effort lack of brains lack of effort yeah they just they dont do the work they dont learn you know when you walk in the room 
when you a business and you to talk about somebody youre never in a vacuum with no competition you know unless youre just extremely lucky and if theres going to be competition that means somebody else knows your business as well as you do 
when you get ed and if you walk into a competitive environment and they still know more about the business than you do and more about your customers youre going to lose but most people dont consider that they dont do the work they dont learn more about their industry they dont know even about their business i mean and so youve got to put in the effort to know more about your industry than anybody else um and thats thats the brains part and thats the effort part as well because look if youre competing with me you you better know 
what youre doing otherwise im gonna kick you out you know and youre not gonna outwork me and so you know the combination is usually 
what kills businesses early on more than anything you could within a million minute interview say this dudes not going to make it as an entrepreneur yeah i mean i can i can typically tell right i can tell um but by um their passion i can tell by their focus i can tell by their preparation you know theres a whole realm of things in any business here you know heres heres the business youre in and heres a thousand things that influence
 whether or not youre going to be successful you know through my experience in businesses i can put myself in his position and say okay here are of the thousand things he has to be aware of and then go through and ask and by how many of those or her issues theyve been able to address already that kind of gives me a sense of how hard theyre 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 saying
 what should i do they ask you yeah yeah and thats fine right and i want them to ask questions but you know people like to say you know the only stupid questions are the one you dont once you dont ask and thats 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 thats going to disqualify you almost more than anything if youre not always learning if to this minute if if im not continuously learning if im not just absorbing as much as i can absorb someone else is going to kick my ass right so you talk about paranoia the greatest source of your paranoia should be knowledge if someone else knows more than you do and if youre not learning if you dont know the learn if you dont know how to learn if you dont have a thirst for learning and acquiring information your sol do you think there needs to be a healthy level of peril absolutely there needs to be oh yeah i mean i always say you know for every one of my businesses i i said 
what would i do to kick my own ass you right so 
whatever business you have theres somebody trying to put you out of business theres somebody trying to to take a bite out of your business and its better for you to figure out how theyre going to do it rather than they do it um and so yeah thats being paranoid and so you have to be paranoid you have to anticipate other peoples next moves and you cant ever you know downplay the competition i was at a business plan competition this morning for out of college and they were kind of being dismissive of the competition and so you cant ever do that you know theyre out there trying to take you down and theyre not just going to sit still and if youre good really really good youre going to inspire them to work even harder faster better and so you have to be you know very selfaware of 
what youre good at and 
what other people are good at and you know a healthy dose of paranoia makes a big dif i mean is very helpful lets transition to a different subject with college you went to iu yep right now you got a lot of people that uh say uh forget about school you know drop out of school there it is so you think theyre really tell me
 why um if youre going to have and run a business if you dont understand accounting youre already behind the eight ball cant you hire a guy thats that knows that but then they still have to communicate to you your account might tell you youre profitable but your cash is going down you know not understanding um a breakdown and and when you dont do you think you need college to learn that yeah i think you do right because it may not for some people look if youre so selfmotivated that you can take an online course in accounting and teach yourself everything youre way ahead of the game many ways but most people arent i dont care if you go to a community college and take accounting and spend 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 if the school offers that these are all thats the language of business and so while its possible to teach yourself these things and
 while its possible to hire them 
when youre ing your own company you dont want to have to spend money hiring an accountant well let me tell you about if youve gone through all these classes probably dont 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 and all that thats thats the blocking of tackling thats 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 its always going to be changing how does one entrepreneur increase the speed and areas that they can increase theres certain things you cant concentrate in one way speed of growing your business all right so how fast can i grow yeah i mean it just depends youve got to know your own skill set right and youve got to know how that fits within your companys life cycle um you know some companies are slow slow grind and you just have to understand that and youve just got to bide your time and still until it s to click and then grow with it quickly you know if youre trying to release a product that needs to be ubiquitous youve got to go um as fast as you can and and then you know release a product yeah yeah and and you know theres a lot of people say you know perfection is the enemy of profitability right and that doesnt mean you have to wait till its a perfect product it really just depends on 
what the product is it you know 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 lowhanging fruit what are the at
 what are what customers are willing to write you a check or commit to it you know so that theyre willing to integrate it into their daily lives or integrate it into their daily 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 im im going to be able to learn im gonna 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 had no season ticket holder base and so literally it was a matter of just putting a 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 im 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 q and im the new owner of the dallas mavericks you know id like to invite you back over again its not though this is my business you you cant get regular sales guys or something make those calls once they get to a quarter youre a guy thats a billionaire youre making those well but thats all you know and thats fine and good right because everybodys got their own goals right and but still i i dont want anybody at the mavs to be able to say well hes not willing to do the work right theres you know if i walk around im picking up all the papers im not saying go get that picked up im like okay thats trash im picking it up um so but in terms of speed of growth its 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 come by even faster i alluded to it earlier about entrepreneurs being born or built you know and i think there i knew i was wired to be excited about business how or
 why i dont know but you know and theres 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 dirk um the 
whiskey may not be the most talented guy in the nba but his discipline and his focus to do
 whats necessary to be successful hes willing to do and combine it with being seven feet tall and being skilled you know it makes him an amazing basketball player so its 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 grand it depends if you pick the right industry you know i ed my first business
 when i was 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 
where it was all my friends were into it with me so they wouldnt know baseball cards yeah baseball cards you name it i mean i grew up in pittsburgh and so i would probably even less than years old i would go up buy a bunch of baseball cards that i collected and i would package i would say okay youre guaranteed to have a pittsburgh pirate in this package and i would charge three times as much and id set up on this park bench down in the park down in scott township
 where i grew up and um id have these little sales and it was great i made money and i mean it was you know and i learned as much about business
 when i was and as i learned any other time Music you '

google-playkhamsatmostaqltradent