Billionaire Mark Cuban’s Advice On How To Get Rich

By on March 2, 2012
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The investment titan and billionaire owner of the Dallas Mavericks, Mark Cuban, shares his examples and advice on how he created a way to Get Rich! This guy brings it to you raw and real on how to really make it out there and what you can expect on your journey to success.

We also share a video of Mark Cuban explaining how he retired in his 20′s, what ideas he likes to invest in and much more. Checkout it and learn a thing or two from Mark Cuban.

 

HOW TO GET RICH!

Thats what so many want. Right ? I’m certainly not going to lie and say it is not a whole lot better having lots of money. I had a whole lot of fun and loved my life when I was eating mustard and ketchup sandwiches and sleeping on the floor of a 3 bedroom apartment that housed me and 5 buddies.

I have a whole lot more fun now. It doesn’t suck to be rich.

The question everyone wants answered, is how to get there. There are ways to get there. But there is not a template that works every time for everyone. It works sometimes. Getting there requires being ready when opportunity presents itself.

IMHO, change and uncertainty create opportunity. Times like we are facing now, with complete financial uncertainty are perfect times to start on the road to getting ahead financially.

First, here is WHAT NOT TO DO:

There are no shortcuts. NONE. With all of this craziness in the stock and financial markets, there will be scams popping up left and right. The less money you have, the more likely someone will come at you with some scheme . The schemes will guarantee returns, use multi level marketing, or be something crazy that is now “backed by the US Government”. Please ignore them. Always remember this. If a deal is a great deal, they aren’t going to share it with you.

I dont broadcast my great deals. I keep them all to myself. The 2nd thing to remember is that if the person selling the deal was so smart, they would be rich beyond rich rather than trolling the streets looking to turn you into a sucker. There are no shortcuts.

So what should you do to get rich ?

Save your money. Save as much money as you possibly can. Every penny you can. Instead of coffee, drink water. Instead of going to McDonalds, eat Mac and Cheese. Cut up your credit cards. If you use a credit card, you dont 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 can, you will quickly find that the greatest rate of return you will earn is on your own personal spending. Being a smart shopper is the first step to getting rich. Yeah you have to give things up and that doesn’t work for everyone, particularly if you have a family. That is reality. But whatever you can save, save it. As much as you possibly can. Then put it in 6 month CDs in the bank.

The first step to getting rich is having cash available. You arent saving for retirement. You are saving for the moment you need cash. Buy and hold is a suckers game for you. This market is a perfect example. Right at the very moment when cash creates unbelievable opportunity, those who followed the buy and hold strategy have no cash. they cant or wont sell into markets this low, that kills the entire point of buy and hold. Those who have put their money in CDs sleep well at night and definitely have more money today than they did yesterday. And because they are smart, disciplined shoppers, their personal rate of inflation is within their means. Cash is king for those wanting to get rich

The 2nd rule for getting rich is getting smart. Investing your time in yourself and becoming knowledgeable about the business of something you really love to do

It doesn’t matter what it is. Whatever your hobbies, interests, passions are. Find the one you love the best and GET A JOB in the business that supports it.

It could be as a clerk, a salesperson, whatever you can find. You have to start learning the business somewhere.  Instead of paying to go to school somewhere, you are getting paid to learn.  It may not be the perfect job, but there is no perfect path to getting rich.

Before or after work and on weekends, every single day, read everything there is to read about the business. Go to trade shows, read the trade magazines, spend a lot of time talking to the people you do business with about their business and the people they buy from.

This is not a short term project. We aren’t talking days. We aren’t talking months. We are talking years. Lots of years and maybe decades. I didn’t say this was a get rich quick scheme. This is a get rich path

Now you wait for times of uncertainty and change in your business. The time will come. It may  come quickly, it may take years and years. But it will come. The nature of our country’s business infrastructure  is that it is destined to be boom and bust. Booms are when the smart people sell. Busts are when rich people started on their path to wealth.

You will know when that time is here for you because you will know your business inside and out. You will be ready because you will have been saving up for this moment in time

With all the change and uncertainty in the financial markets, there are people right now making more money than they ever dreamed of. They are the ones who have been living the real estate market and the financing behind it and understanding what actually what was going on. They re the one who understood the complexities of the credit markets. When everyone was following the crowd, they kept on saving their money and avoiding the temptation of groupthink.

Boom and busts happen to every industry. The question is whether you have the discipline to be ready when it happens for you ?

If you do, you will find out what it feels like to get lucky.

 

Article By Mark Cuban

 

Mark Cuban – The Rich Life

 

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About The Author: Joel Brown

Joel Brown is the CEO and Founder of Addicted2Success.com. With a long time passion for Entrepreneurship, Self development & Success, Joel started his website with the intention of educating and inspiring likeminded people all over the world to always strive for success no matter what their circumstances. Joel’s passion for what he does shows through the continual growth of Addicted2Success.com's online community. Follow Joel Brown on Twitter or keep upto date with him on Facebook: https://www.facebook.com/joelbrownA2S

23 Comments

  1. Reemo

    August 19, 2012 at 2:29 pm

    Just a heretical thought to add to the conversation… Wheres the fun in getting rich when the rest of the people are down and out with markets crashing…. I want to be rich when the markets are up so I dont have to be alone in my success….I want to be rich when the economy is booming and everyones happy . I dont want to enjoy at a time when others are weeping … Just my two cents

    • Steve

      December 18, 2012 at 4:03 am

      Everyone one wants to grow rich and everyone wants to grow rich with their ones you love. The difficult part is when you start becoming successful and your loved ones are struggling with taking the initial sacrifices, like adding discipline to their lives. What then? Do you carry them on your back so they can “be there” with you in your success? For someone to be successful, first of all they have to want to for themselves.Then take action.

    • Matt

      December 25, 2012 at 3:39 pm

      I think you are missing the point…making money is a zero sum game. When someone makes a bunch, someone else lost a bunch. Statements like ‘I want to make money while everyone else is’ is something that someone who will never make money says. Capitalism is just that, capitalizing. If capitalizing on something for your own gain hurts your feelings for someone else, than just start a non profit. Don’t get me wrong I want people to all succeed but the reality is most wealthy people make money by taking it from others. There is a finite amount of money out there, it’s not meant to be shared, it’s meant to be exchanged.

  2. jacob

    September 6, 2012 at 3:27 am

    hey my name is jacob fowler ,im a high school student in montana . ive read alot of your stuff about helping you succeed with your goals ,i have many goals of my own ,and its fascinating how you to be where you are now.thank you and it would be great to talk to you . thanks

  3. Hollington Tong

    November 10, 2012 at 8:27 pm

    In the section First here’s what not to do he is doing what he said not to do.
    Billionaires Rich Devos And Jay Van Andle seem to disagree with his first not what to do also.

    I am not saying the advice here is unsound but its self defeating when you say no one will help you in an article designed to help you. Simply because if you believe others aren’t there to help you succeed then your advice is would be designed to make sure others don’t.

  4. Darlington

    November 29, 2012 at 9:59 am

    well, others who can help yu should find you already helping yourself.This good advice and it works

  5. Ibukun

    December 30, 2012 at 8:26 am

    Nice article

  6. Vital KARANGWA

    January 9, 2013 at 3:52 pm

    Well, very nice article! I have very many ambitions and I need help of people like you! I think this article will help me in many things , especially in savings! because I spend more than I earn. So, at the end of the month I find my self in looking for extra mony!

  7. B.Veenman

    September 2, 2013 at 8:51 am

    Nice article Mark, I’m confronted with change in my industry at the moment and I know I’m just in the right place at the right time. I have already recognized that this might be my burst, the one that I have been working towards for 6 years. I want to just let other readers know to take to hart what Mark writes here, It is very true, from gaining knowledge about you business to that the change in you industry will come.
    It does not matter if your industry is a big industry, With the right idea a small market can be turned into a big market, or you will see related opportunity in a much bigger market.
    Good luck to everybody into becoming bilionairs

  8. Angel Villanueva

    October 5, 2013 at 6:57 pm

    Hello, Mr. Cuban , my name is ANGEL, It’s funny. I’m going to start with. I to believe it or not I am a Multi-Billionaire, I am a Farmer by trade, I got my Real Estate License back in 2006 While I got sick, well to make things short I got shot with a Shot gun on my back, I have 3 fuse disc on my lower back, plus 3 on my neck. About 40 pallets all over my back. Ok, I almost lost my farm while I was sick. I got well started Real Estate sale’s done well since. Just enough to get by. But here is my lesson to you an everybody out there..Please Thank GOD for what ever you have. I have my Wife an 3 children, 1 beautiful Grand daughter an son inlaw. Best of all my Life. I Enjoy Everyday I Thank GOD. I am a Multi-Billionaire, I have a Family.
    Angel Villanueva

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