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Billionaire Mark Cuban urged investors to stay on top of their spendings and be smart shoppers.
In an interview with Men’s Health published on September 1st on YouTube, American entrepreneur and self-made billionaire Mark Cuban shared some of the secrets to his financial wellness and his journey to billionaire status.
According to Cuban, the best investment he ever made was investing in himself at an early age. He criticized most people who don’t put in the work to diligently focus on their long-term goal and want to live lavishly.
Billionaire Mark Cuban Shares Secrets at Men’s Health
“The reality is, most people don’t put in the time to keep up and learn. That’s always given me a competitive advantage,” Cuban insisted.
In his opinion, given a chance to start all over again he would still become a billionaire. He insisted that he would take any job available so long as it’s paying, but importantly he would learn from all sorts of jobs.
“When you’re first starting, you may or may not have a job. You don’t have any money. You [have] complete uncertainty about your career,” he told Men’s Health. But “what I learned early on is that if I put in the effort, I can learn almost anything.”
The billionaire advice to entrepreneurs was to focus on integrating technology in their businesses especially due to the effects of the pandemic. According to him, big capped companies are using artificial intelligence technology to put them ahead of the competition amid the ongoing coronavirus pandemic.
He gave the analogy of cashless payments up against paper payments at a time when people are advocating social distancing would put a business on a vantage point to compete with other companies in the same industry.
In addition, the billionaire urged investors to stay on top of their spendings and be smart shoppers. Hereby, the little savings add up to big money in the long run. For Cuban, learning all day is the secret to staying competitive in this fast-moving business world.
“The fact that I recognized that learning was truly a skill, and that by continuing to learn, to this day, I’m able to compete and keep up and get ahead of most people,” Cuban insisted.
On the Flipside
According to Forbes, Cuban has estimated assets worth $4.2 billion. He founded video portal Broadcast.com with fellow Indiana University alum Todd Wagner in 1995 and sold it to Yahoo for $5.7 billion in 1999.
Today he owns the NBA’s Dallas Mavericks and has stakes in Magnolia Pictures, AXS TV and dozens of small startups.
He invests in mission-driven companies, whereby he is one of the main “shark” investors on the ABC reality television series Shark Tank.