Mark Cuban Blogs About How To Get Rich
A co-worker shared this blog post by Mark Cuban, owner of the Dallas Mavericks NBA basketball team, with me and I thought it was fascinating. For those that don’t know Mark Cuban is a rags to riches stories who went from broke and jobless in 1982 to a wildly successful entrepreneur worth 2.8 billion dollars in about 25 years. In this article he shares his tips to becoming rich. Here is my ultra quick summary.
- Develop personal discipline
- Live frugally
- Avoid debt
- Have cash
- Find a niche in an area you love
- Use the cash to seize opportunities when it comes
- Bust it hard
Here is a quote that gives you a good flavor of his attitude: “If you use a credit card, you don’t want to be rich. The first step to getting rich, requires discipline. If you really want to be rich, you need to find the discipline, can you ?”
If you follow the link at the bottom of the article you can also read the story of his rise from nothing. Mucho entertaining and inspiring.
Enjoy.
A Tale of Two Athletes – Phil Coke and Antoine Walker
Into Debt And Out Again – Overcoming $40,000 Of Debt
His statement about owning a credit card is blunt and powerful. I was surprised that he advised to put money in a 6 month CD. I always thought that CDs were a bad investment especially a 6 month one.
How many “first steps” does he have for becoming rich?
1. “The first step to getting rich, requires discipline.”
2. “Being a smart shopper is the first step to getting rich.”
3. “The first step to getting rich is having cash available.”
I too like his comment about the credit card. Bottom line, I just don’t think you can really be successful at much without discipline. If you can’t say no to yourself and do the things that you need to do when you don’t feel like doing them, you are going to struggle. It seems to me that the most successful people are the best at telling themselves NO.
I would also have to add:
Read and Learn as much as possible.
The ongoing thread in hacker forums of how to get involved in the security field, or “how to become a hacker” is always followed by a thunderous shout of “read more” Such is the nature of blogging also, read and learn as much as possible.
The more you know, the better prepared you can be for when that perfect opportunity comes along, and you have to think fast on your feet.