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10 Reasons Why Mark Cuban Is Worth Billions of Dollars

Joel Brown (Founder of Addicted2Success.com)

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Mark Cuban Rich Billionaire

Mark Cuban has successfully built and sold multiple businesses over the years. He is worth an estimated $2.5 billion after selling his business “Broadcast.com” for $5.9 billion in Yahoo stock and also is the owner of the Dallas Mavericks NBA Basketball team, Landmark Theatres and Magnolia Pictures.

Cuban is a self made billionaire and is a great example of how you can construct a successful business from the ground up.

Here are ten of the most important reasons why Mark Cuban is a super successful entrepreneur.

 

 

What Makes Mark Cuban So Successful

 

1) Cuban Knows How To Sell

Mark Cuban has the saying “sales cure all”. What this means is that if a business is struggling the real cause can invariably be traced back to a lack of sales. Cuban said he learned this important lesson when he was working for “Your Business Software“. Cuban closed a deal for $15,000 that he had been told by his CEO not to do. His boss was furious and this deal ended Cubans job at the company.

Cuban realized that although the CEO of the company might be in charge he didn’t know how to sell and that this was his weakness and could possibly be one of Cubans newly found strengths.

 

2) He Is Good At Spotting Potential

When Mark was starting out with “MircroSolutions” he once visited a business called “PCDirect”. Talking to the young owner of the business he was impressed by his vision and talent. He told the young man that he thought they were both going places. That young man was Michael Dell, and Michael Dell’s future, well became quite amazing as he earned billions and secured a spot between the big boys Apple & Microsoft in the market.

As a venture capitalist Cuban continues to look for that potential for greatness and is even featured on the Startup Investor TV Show on ABC called Shark Tank, where he invests in new ideas and ventures that he sees great potential in.

 

3) He Understands That He MUST Work Harder Than The Next Guy

The one thing that you can control is your work ethic and Mark makes sure that he is a beast in his field. Cuban says that you need to know the industry that you are in better than anyone else, to study, live and breathe it.

Earlier in his career when he was first working for MicroSolutions he was making around $60,000 a year. He was doing well but he wanted more. Cuban says he dedicated himself to learning everything he could so that he would be able to get an edge over his competitors. More recently Cuban says that he spends as much time as he can reading everything and anything about the cable industry. Cuban is always on the hunt to be the expert in his industry.

He understands that persistence most definitely pays off.

Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don’t do it. – Mark Cuban

 

4) Mark Cuban Focuses On REAL Results

While Cuban strongly believes in the importance of having a strong work ethic, he also suggests that we need to focus where we direct our energy. Working to produce real results is far more important than working simply for the sake of it.

He is also skeptical about start-ups who waste their money. He says if he receives too much “swag” from a company then he is immediately suspicious about how they are allocating their resources.

Mark Cuban Shark Tank

 

5) He Is Always Looking For Long Term Business Relationships

Cuban advises businesses not to be too focused on squeezing the maximum profit out of a single deal at the expense of the relationship with that customer. Real value for a company is created by maximizing the life time value of the customer.

As Cuban points out, business relationships are built over years, not on a single deal.

 

6) He Always Learns On The Job

If you are willing to learn your job can pay you twice.

– Firstly there is the money that you receive for working your job.

– Secondly there is the knowledge that you gain from working at your company.

This second form of payment is in Cubans opinion the most important one. When Cuban first started out working at “Your Business Software” he was only making $18,000 a year. But more importantly he was learning about the PC industry and how to sell. It was this knowledge that would allow him to build MicroSolutions into a company that did $30 million in sales only a few years later.

He took the risks when necessary and kept his eyes on the prize ahead of him, he discovered that he must always strive “to learn, create and grow.”

Because if you’re prepared and you know what it takes, it’s not a risk. You just have to figure out how to get there. There is always a way to get there. – Mark Cuban

 

7) Cuban Extends Himself To Get A Customer

Mark Cuban’s first customer was the $15,000 deal that lost him his job working at “Your Business Software“. After losing his job he went to the customer and asked if he could do the job for him personally. The client agreed and it launched MicroSolutions.

For his first clients Cuban would take no money for providing the service, the client was only charged for the software. Cuban did this because he realized that customers only want to work with you if you already have other customers and a great reputation.

 

8) He Doesn’t Believe In Hierarchy

Mark Cuban keeps a careful eye out for people he perceives as being “Empire Builders”.

These are senior executives who don’t want to make sales calls and require lots of perks. He believes in making the organizational structure as flat as possible. He also says that open offices work best and that executives should not be able to lock themselves away.

Mark Cuban Self Made

 

9) He Builds Companies To Last

Mark believes that many entrepreneurs are too focused on the idea of an exit strategy. He believes that the best way to build a company that will sell for a great price is to build a company that is designed to last. He also remarks that if you have your eyes on the exit then the company is not enough of an obsession for you.

 

10) He Knows When To Sell

Mark Cuban built his businesses because of his relentless sales drive and persistence, but he also become a billionaire because he knew the best time to sell. This has proven to be the key in many industries, many times over. Cuban sold Broadcast.com to Yahoo in 1999 for $5.9 billion in stock. One year later following the dot com crash the company’s value was worth a fraction of that.

He cashed out when the deal was good and didn’t hang on too long in hopes for a greedy “more”. Know when to sell, and learn when to walk away from something you feel does not do a sale justice either. Mark has mastered this and it has rewarded him dearly.

 

Mark Cuban is the definition of a hard working entrepreneur who isn’t afraid to hustle. Learn how to adopt some of his winning success traits and you may have what it takes to build your own fortune.

Mark Cuban Entrepreneur Picture Quote For Success

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 100 million lives in the last 6 and a half years.

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8 Comments

8 Comments

  1. Mer

    Jun 13, 2015 at 6:45 pm

    “Because if you’re prepared and you know what it takes, it’s not a risk. You just have to figure out how to get there. There is always a way to get there.” – Mark Cuban

    This is the reason why most people quit – they don’t strive hard enough to figure out how to get there. And it was also the reason why I failed in my first few businesses.

    I whole-heartedly agree that you have to be an expert in whatever niche and position you are operating in. Being an expert not only makes it easier to learn new things related to your niche (e.g if you were an SEO expert in 1999, it’s easier for you to learn to use social media for SEO now), it also safeguards you against people who may try to shortchange you (e.g an SEO agency telling you to choose any one of their one-size-fits-all SEO packages).

    I’ve only recently started learning about Mark Cuban because I’ve been obsessed with Bill Gates, Warren Buffett, Richard Branson and Donald Trump before that. Simply reading about Mark tires me – he has an extremely incredible work ethic!

  2. Ugo

    Oct 24, 2013 at 7:43 pm

    simply amazing! wow!

  3. helios narcissus (@heliosnarcissus)

    Oct 1, 2013 at 2:10 pm

    gotta love this man. wohoow, that was quite a riiiiide >:DD

  4. Mats Holmvik

    Sep 24, 2013 at 2:10 pm

    Nice breakdown of it all! 🙂 Gotta love the Sharks!

    I agree to the parts and you should copy behavior of the person you want to be like!

    • Joel

      Joel

      Sep 25, 2013 at 8:24 am

      You got it Mats!

  5. Pratyush Jha

    Sep 21, 2013 at 4:05 pm

    what an inspiration!!!
    especially the risk he took by disobeying his ceo!!
    hats off…

  6. Jimoh Okoh

    Sep 21, 2013 at 3:41 pm

    wow

  7. FERNANDO BIZ

    Sep 21, 2013 at 8:33 am

    Great article with amazingly inspiring story. I never knew much Mark but this article gave a comprehensive message and momentum to play the game at it’s best.

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Your email address will not be published. Required fields are marked *

Success Advice

How to 10X the Likelihood of Completing Your Next Big Project

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According to Bob Proctor, you have a 95% chance of making personal change happen if you make a plan and set a specific time to share your progress with someone. At the opposite end of the spectrum, you only have a 10% chance of making a change if you say “that’s a good idea” to your next inspirational brain wave without doing anything else.

Now think about it, how many times have you thought “that’s a good idea” and been inspired to do something without actually pulling the trigger to take one single, simple step towards doing something? This is one of the biggest challenges standing in the way of people from achieving their fullest potential.

Here are 6 steps to help you jump-start your next project and take action right away:

1. Identify which ideas are actually good

Not all ideas are created equal, and not all ideas are worth pursuing. In fact, some ideas and goals should be actively avoided. Warren Buffett tells a story about having someone write out their top 25 career goals on a piece of paper. After looking at the list, he asks the individual to circle the top 5 goals on their list. After that, he tells the person that the 20 remaining goals should be “avoided at all costs” until the first 5 goals are met.

It is a mistake to think that you can split your energy in multiple directions and succeed at anything. Instead, focus on the top 2 or 3 things that are most important to you, and actively avoid anything that takes you away from pursuing those goals or ideas.

2. Tell yourself you will do something with this new idea

Once you’ve decided that something is important enough to pursue, make a point of telling yourself you will do something to further explore the idea. This doesn’t mean making a commitment to quit your day job to pursue a vague idea for a startup. Nor does it mean dropping everything to travel the world for 6 months. Rather, it means that you commit to looking into something to get a better idea of what’s involved before taking the leap on a project.

“Ideas are commodity. Execution of them is not.” – Michael Dell

3. Choose a deadline or create a window of time to get something shipped

Outline a specific window of time to accomplish something, and then write out that plan in a calendar. The most important thing is to make sure the deadline is reasonable and that you are realistic. If you make a goal to double your income and launch a new business in the next 12 months, you may find yourself becoming disheartened when things aren’t working out after 3 weeks. I typically choose to work on tasks and projects in 1-3 month sprints, at which point I check in and reevaluate my progress.

4. Outline a specific plan of action on how to do it based on the timeline you have created

I use a variety of tools to help plan out my tasks and remind myself what I’m supposed to be working on, but at the end of the day, the best tool I use to schedule activities is a simple Excel spreadsheet to track tasks on a day by day basis. Check out the book “12 Week Year” for some ideas on how to choose specific action items and tasks which will help you move the needle on your work.

“Ideas are easy. Implementation is hard.” – Guy Kawasaki

5. Make a commitment to accomplish something specific based on the timeline and plan

Now that you have spent the time to research your idea, develop a timeline for the idea and structured a plan with specific tasks to accomplish this idea. You must make a commitment to yourself to carry out the tasks on your list and to strive to complete everything on time.

This task is incredibly important because it requires that you tap into a deeper level of motivation that goes beyond acceptance by the group or fear of failure. Instead, you need to reach deep down and make a commitment based on a deep need to accomplish the task that goes beyond recognition.

6. Set a specific time to review and be accountable for your plan and progress with someone else

We all know that even the most powerful source of internal motivation may not be enough to keep you going when times get tough. This is why you should make a habit of meeting up with a friend, mentor or colleague to review your progress on a certain project and to get ideas on how best to proceed. Make this meeting at a time that you both agree on well in advance, be clear on the feedback you want, and then don’t miss your deadlines!

At the end of the day, taking action is perhaps the biggest deciding factor that will directly contribute to your success and your ability to achieve your goals. If you don’t act, you’re dead in the water. So make a commitment to yourself today to give this a shot.

Think this system would work for you? Let us know!

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Success Advice

5 Easy Ways to Apply the Law of Attraction in Your Business

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Are you a great fan of The Secret? Then you must absolutely be a great believer in the underlying principle of the Law of Attraction. We can attract all that we desire right into our lives. You may be familiar with applying these principles in your personal life, to your health, wealth and relationships. Have you ever wondered about applying this to your business as well? Can business success be a consequence of applying the law of attraction? We say Yes!

Here are 5 easy ways to apply the Law of Attraction to your business:

1. Imagine how you want your day to go down to the last detail

This is the most critical step. You know what is lined up for the day, now it is up to you to imagine with great detail and enormous positivity how you want to see each element playing out. Say, you have 3 meetings lined up for today. The first one is a morning meeting to negotiate the pricing terms of a contract. It is not enough if you have only visualized the how’s and what’s of the contract. Think and plan to excruciating levels of detailing.

Imagine yourself, what you are wearing, how you will arrive at the meeting, the time when you will be going, how your body language will be during the discussion. Preempt their moves and visualize your responses well ahead. Then imagine how you will commute to the next meeting and carry forward your victorious attitude from this one.

“Greater self-esteem produces greater success, and greater success produces more high self-esteem, so it keeps on spiralling up.” – Jack Canfield

2. Visualize clinching the deal

Once you have planned down to the last detail, visualize your victory. Try to imagine beforehand the moments just before finalizing the deal. How do you imagine it? What are your words going to be? What is the spirit of your counterpart’s response then? Imagine the actual deal signing. Think of this like a wedding rehearsal and plan accordingly.

3. Conjure the ideal client

It is not enough to just visualize the business transactions and negotiations, you have to conjure the client you want as well. All clients are not the same. There is no one who is a perfect client. You have to convert all clients into the ideal client. Think of each client listing their positives and ending with what you would like to change about them. For example, say to yourself that I love this client for their clear briefs and great team spirit, however, it would be much better if only they would pay on time.

Now visualize them paying you on time. What is happening that is making them pay on time? Perhaps you have visualized sending invoices earlier or sending a friendly reminder their way by way of a personal chat or a quick call. Visualizing the ideal client and then your own set of actions that can help convert every client into the ideal client is the way of applying the law of attraction principle to client relationships.

4. Dream up the perfect team

Great business ideas, amazing discussions and the ideal client still do not make for great success. The dream team is what creates success. We all know this. Just like perfect clients, there are no perfect employees, however, the good news is that you can shape your team into the ideal team.

Say you have a great team with skills in Strategy, Distributor relationships, Retail merchandising but lacking in Marketing skills. Visualize as having a great team with all skills except an acquirable skill of Marketing. Visualize every smaller team being equipped with Marketing skills.

How do you see this happening? Are you going to be employing a marketing skill set equipped person in each team? Are you going to train team members who have the aptitude for it to perform marketing tasks as well? It could also be a mix of both approaches. Whatever it is, you need to visualize it to the last detail, even to the degree of what kind of training you would be providing to them.  

“Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don’t do it.” – Mark Cuban

5. Count your highs at the end of the day

This is the only part where future oriented visualization has no place. You have to go over the entire business day and religiously note down all the positives. Sometimes the positives may not be tangible acquisitions such as a contract or a payment or project completion. There would be intangible acquisitions such as the realization of what was needed to improve your team, or the first steps taken towards visualizing your negotiation.

It doesn’t matter, you have to count the positives that today has brought. Celebrate the key notes of the day with your team and verbalize why you are celebrating. This brings the entire team to apply the law of attraction in their own business days as well.

Successful entrepreneurs apply these skills with great mastery. Follow these easy ways and apply the Law of Attraction to your business as well. Your success is certain and imminent. Are you ready for it?

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Success Advice

Braggart, Blowhard, and Annoyingly Successful: How to Promote Yourself and Your Ideas

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Most of us don’t want to look like a braggart, which is good. However, sometimes it makes us stay in the shadow without showing our positive sides. We remain silent about our achievements. The thing is, sometimes politeness can play a bad joke on you. This great feature of your character can become one of those things that prevent you from succeeding.

If you don’t show your positive side in meetings and interviews, there will always be somebody else to do it. When such people get a promotion, your politeness doesn’t seem so useful.

Self-confidence turns out to be a very important quality because confident people who are not afraid to speak of their achievements are usually seen as more competent. However, modesty is still considered a virtue in most cultures. The reason is obvious: Most blowhards just don’t understand how annoying their bragging can be.

Braggart, Blowhard, and Annoyingly Successful

The definition of a braggart is a very talkative person who turns any conversation into an opportunity to talk about his or her personal achievements and goals, constantly glorifying himself or herself. A blowhard is, in general, the same sort of person: too loud, talkative, and boastful.

There’s nothing bad about enjoying your success, in fact, what is the point of success if we cannot be proud of ourselves? The thing is, everyone must understand where to stop.

For example, when you talk to your friends at dinner there’s nothing wrong with sharing your experiences so others can celebrate your success with you. Don’t turn each conversation into a monologue and don’t forget that other people also have interesting stories to tell.

“Talk to someone about themselves and they’ll listen for hours.” – Dale Carnegie

Why You Shouldn’t Be Afraid to Promote Yourself

Excessive modesty makes a bad impression. People who talk themselves down all the time shouldn’t be surprised if others also don’t find them likable. Some people are so afraid of being a blowhard that they get anxious about describing their good sides. As a result, they miss many opportunities.

If you’re afraid of talking about your own achievements, it means that you don’t believe that your work is valuable. Such an approach is unlikely to create an attractive image.

You need to understand that your work has little to do with your personality. Braggarts love themselves more than anything, and their point is to convince others that they are the best.

Only talk about what you actually did, and what is important about your achievements. This is not bragging. All you need to do is show others that you can contribute to your team or organization.

If you want to succeed in the world of business, you need to gain the attention and respect of your colleagues. The very fact that you’re afraid of being annoying means that you’re likely not that sort of person who will turn self-promotion into bragging. It’s time to face the other side of the coin and push yourself through your fears towards success.

Now that you’re ready to get out of your shell, let us help you with a few tips below:

1. Talk about your work and challenges

If you don’t want to sound arrogant, don’t say “It was so easy.” Great accomplishments don’t come easily, and everybody knows it. Tell others how hard you needed to work to achieve these great results. Everybody respects those who work hard and put a lot of effort into their work.

2. Don’t downplay other people’s achievements

Even if you’ve made more sales than anyone else, it’s not a reason to emphasize it. You don’t need to compare yourself to others, instead, compare yourself to your own past. Remember how you started and compare it to what you have now — this is a good sort of comparison that also motivates others.

3. Be thankful

Listen to any Oscar winner’s speeches, and you’ll notice that all these people don’t consider this success as their own. Don’t forget to mention how your team helped and supported you. Thank your company for the opportunity to become who you are.

“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” – Oprah Winfrey

4. Stick to the facts

It’s easy to say “I’m a brilliant leader,” but the only message you deliver this way is that you love yourself. Let others judge you based on facts. Describe how your team managed to double sales after you took it over.

5. Avoid humble-bragging

Some people try to disguise their bragging as a complaint. The truth is, this method doesn’t work. If you say “I’m so embarrassed I scratched my Bugatti Veyron,” this remark will only show how insincere you are.

It’s important to get comfortable with yourself and your success. Don’t be afraid to share your achievements, just make sure you deliver the right message. Show others that you can make a valuable contribution, and you’ll promote yourself without being arrogant.

How do you make other people feel important and valued when they are talking? Let us know in the comments below!

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Success Advice

4 Unusual Ways to Identify Your Strengths When You’ve Tried Everything Else

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Did you ever find it difficult to identify your strengths in life? Many people identify their strengths and weaknesses during the early stages of their lives however, successful leaders can argue that this may need to be the other way around. In other words, we tend to forget about our strengths and how we can effectively use them; and instead, we desperately try to further improve our weaknesses.

We sometimes tend to focus on the negative things we see around us and in turn, miss out on all the positive energy that other people and nature produce for to us enjoy. This is to be expected – not all days are the same and we are human after all. In some cases though, it may simply be because we are not sure of what our best skill set is.

Regardless of the reason, you may find yourself getting stressed out because you can’t seem to understand the things you are performing the best at – instead, you may be noticing your weaknesses. If you are tired of searching for your best strengths as an individual, note that there are ways you can easily find your strengths and weaknesses, without really putting out too much effort.

Below you will see the 4 ways that can help you identify your strengths when you can’t think of anything else to do:

1. Complete A Personality Test

A personality test will help you figure out up to five main personality traits, in addition to other skills you may possess, considering that you aren’t already aware of them. Even though this may not be the perfect solution in knowing what you’re great at, it will help you come closer to the different aspects of your personality.

Knowing what your personality is made up of is an essential element for figuring out the suitable career path you may want to take, the right people to hang out with, and the right objectives you should be following.

“If you know the enemy and know yourself you need not fear the results of a hundred battles.” – Sun Tzu

2. Take An Aptitude Test

An aptitude test is essentially created to determine a person’s ability in a specific skill or field of knowledge. It will help you understand what skills you excel at by asking a series of questions and based on the answers you provide, it will evaluate which skills you are more fitted to outshine. Make sure to have a proper go at the test as it can positively help you decide which career path is more suitable for you.

3. Receive Feedback From Friends, Family And Colleagues

Receiving feedback from friends, family and colleagues is a great way to quickly and easily tap into the different strengths and skills you may have displayed around them in the past. This activity may include a series of questions around you passion, hobbies and previously shown successes.

First, start the conversation by telling them your passion and hobbies, or in other words, the task you can enthusiastically work on for many hours. Ask your friend to outline three to five of your strengths that are somehow related to what you just mentioned; this may include direct strengths but also transferable skills.

Following this, take a minute to device a fictional scenario where you can apply those skills getting you closer to your career goals. Let them know of your thoughts and how you can further employ these in the given setting.

“We all need people who will give us feedback. That’s how we improve.” – Bill Gates

4. Use Numerology

This may be a bit of a controversial suggestion as you might not believe in the overall concept; and that’s absolutely fine. Nevertheless, it would be great to be aware of such an option in case you ever want to give it a try.

Numerology essentially refers to the mystical relationship between a number and specific events in someone’s life. You can check it out to understand more about yourself and maybe find new ways on how you can further grow as an individual.

Take Away Message

Finding new ways to improve our strengths and skills may indeed seem difficult sometimes, however, approaching this from multiple perspectives can prove to deliver great benefits to both our personal and career development.

Focus on always improving yourself in any way possible – that may be by employing traditional methods or even quickly applying a few or all of the above tips. The important thing is to make sure that you continuously use what works best for you and you will soon see the results of your efforts for yourself. You will come to realise that your strengths have greatly increased in both quantity and quality over time.

Which one of these ways will help you in identifying your best strength? Let us know in the comments below!

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Success Advice

How to 10X the Likelihood of Completing Your Next Big Project

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project management
Image Credit: Unsplash

According to Bob Proctor, you have a 95% chance of making personal change happen if you make a plan and set a specific time to share your progress with someone. At the opposite end of the spectrum, you only have a 10% chance of making a change if you say “that’s a good idea” to your next inspirational brain wave without doing anything else. (more…)

McVal Osborne is the author of Start Up your Life: Why we don’t know what we want, and how to set goals that really matter. McVal writes about motivation, decision making, and strategic thinking. He graduated from UC Santa Barbara in 2011 with a degree in Spanish, and has since worked as a market researcher and business consultant in Washington D.C., New York City and London. You can reach him on Twitter @mcval or on IG @mcvaliant.

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8 Comments

8 Comments

  1. Mer

    Jun 13, 2015 at 6:45 pm

    “Because if you’re prepared and you know what it takes, it’s not a risk. You just have to figure out how to get there. There is always a way to get there.” – Mark Cuban

    This is the reason why most people quit – they don’t strive hard enough to figure out how to get there. And it was also the reason why I failed in my first few businesses.

    I whole-heartedly agree that you have to be an expert in whatever niche and position you are operating in. Being an expert not only makes it easier to learn new things related to your niche (e.g if you were an SEO expert in 1999, it’s easier for you to learn to use social media for SEO now), it also safeguards you against people who may try to shortchange you (e.g an SEO agency telling you to choose any one of their one-size-fits-all SEO packages).

    I’ve only recently started learning about Mark Cuban because I’ve been obsessed with Bill Gates, Warren Buffett, Richard Branson and Donald Trump before that. Simply reading about Mark tires me – he has an extremely incredible work ethic!

  2. Ugo

    Oct 24, 2013 at 7:43 pm

    simply amazing! wow!

  3. helios narcissus (@heliosnarcissus)

    Oct 1, 2013 at 2:10 pm

    gotta love this man. wohoow, that was quite a riiiiide >:DD

  4. Mats Holmvik

    Sep 24, 2013 at 2:10 pm

    Nice breakdown of it all! 🙂 Gotta love the Sharks!

    I agree to the parts and you should copy behavior of the person you want to be like!

    • Joel

      Joel

      Sep 25, 2013 at 8:24 am

      You got it Mats!

  5. Pratyush Jha

    Sep 21, 2013 at 4:05 pm

    what an inspiration!!!
    especially the risk he took by disobeying his ceo!!
    hats off…

  6. Jimoh Okoh

    Sep 21, 2013 at 3:41 pm

    wow

  7. FERNANDO BIZ

    Sep 21, 2013 at 8:33 am

    Great article with amazingly inspiring story. I never knew much Mark but this article gave a comprehensive message and momentum to play the game at it’s best.

Leave a Reply

Your email address will not be published. Required fields are marked *

Success Advice

How to 10X the Likelihood of Completing Your Next Big Project

Published

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project management
Image Credit: Unsplash

According to Bob Proctor, you have a 95% chance of making personal change happen if you make a plan and set a specific time to share your progress with someone. At the opposite end of the spectrum, you only have a 10% chance of making a change if you say “that’s a good idea” to your next inspirational brain wave without doing anything else.

Now think about it, how many times have you thought “that’s a good idea” and been inspired to do something without actually pulling the trigger to take one single, simple step towards doing something? This is one of the biggest challenges standing in the way of people from achieving their fullest potential.

Here are 6 steps to help you jump-start your next project and take action right away:

1. Identify which ideas are actually good

Not all ideas are created equal, and not all ideas are worth pursuing. In fact, some ideas and goals should be actively avoided. Warren Buffett tells a story about having someone write out their top 25 career goals on a piece of paper. After looking at the list, he asks the individual to circle the top 5 goals on their list. After that, he tells the person that the 20 remaining goals should be “avoided at all costs” until the first 5 goals are met.

It is a mistake to think that you can split your energy in multiple directions and succeed at anything. Instead, focus on the top 2 or 3 things that are most important to you, and actively avoid anything that takes you away from pursuing those goals or ideas.

2. Tell yourself you will do something with this new idea

Once you’ve decided that something is important enough to pursue, make a point of telling yourself you will do something to further explore the idea. This doesn’t mean making a commitment to quit your day job to pursue a vague idea for a startup. Nor does it mean dropping everything to travel the world for 6 months. Rather, it means that you commit to looking into something to get a better idea of what’s involved before taking the leap on a project.

“Ideas are commodity. Execution of them is not.” – Michael Dell

3. Choose a deadline or create a window of time to get something shipped

Outline a specific window of time to accomplish something, and then write out that plan in a calendar. The most important thing is to make sure the deadline is reasonable and that you are realistic. If you make a goal to double your income and launch a new business in the next 12 months, you may find yourself becoming disheartened when things aren’t working out after 3 weeks. I typically choose to work on tasks and projects in 1-3 month sprints, at which point I check in and reevaluate my progress.

4. Outline a specific plan of action on how to do it based on the timeline you have created

I use a variety of tools to help plan out my tasks and remind myself what I’m supposed to be working on, but at the end of the day, the best tool I use to schedule activities is a simple Excel spreadsheet to track tasks on a day by day basis. Check out the book “12 Week Year” for some ideas on how to choose specific action items and tasks which will help you move the needle on your work.

“Ideas are easy. Implementation is hard.” – Guy Kawasaki

5. Make a commitment to accomplish something specific based on the timeline and plan

Now that you have spent the time to research your idea, develop a timeline for the idea and structured a plan with specific tasks to accomplish this idea. You must make a commitment to yourself to carry out the tasks on your list and to strive to complete everything on time.

This task is incredibly important because it requires that you tap into a deeper level of motivation that goes beyond acceptance by the group or fear of failure. Instead, you need to reach deep down and make a commitment based on a deep need to accomplish the task that goes beyond recognition.

6. Set a specific time to review and be accountable for your plan and progress with someone else

We all know that even the most powerful source of internal motivation may not be enough to keep you going when times get tough. This is why you should make a habit of meeting up with a friend, mentor or colleague to review your progress on a certain project and to get ideas on how best to proceed. Make this meeting at a time that you both agree on well in advance, be clear on the feedback you want, and then don’t miss your deadlines!

At the end of the day, taking action is perhaps the biggest deciding factor that will directly contribute to your success and your ability to achieve your goals. If you don’t act, you’re dead in the water. So make a commitment to yourself today to give this a shot.

Think this system would work for you? Let us know!

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5 Easy Ways to Apply the Law of Attraction in Your Business

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Are you a great fan of The Secret? Then you must absolutely be a great believer in the underlying principle of the Law of Attraction. We can attract all that we desire right into our lives. You may be familiar with applying these principles in your personal life, to your health, wealth and relationships. Have you ever wondered about applying this to your business as well? Can business success be a consequence of applying the law of attraction? We say Yes!

Here are 5 easy ways to apply the Law of Attraction to your business:

1. Imagine how you want your day to go down to the last detail

This is the most critical step. You know what is lined up for the day, now it is up to you to imagine with great detail and enormous positivity how you want to see each element playing out. Say, you have 3 meetings lined up for today. The first one is a morning meeting to negotiate the pricing terms of a contract. It is not enough if you have only visualized the how’s and what’s of the contract. Think and plan to excruciating levels of detailing.

Imagine yourself, what you are wearing, how you will arrive at the meeting, the time when you will be going, how your body language will be during the discussion. Preempt their moves and visualize your responses well ahead. Then imagine how you will commute to the next meeting and carry forward your victorious attitude from this one.

“Greater self-esteem produces greater success, and greater success produces more high self-esteem, so it keeps on spiralling up.” – Jack Canfield

2. Visualize clinching the deal

Once you have planned down to the last detail, visualize your victory. Try to imagine beforehand the moments just before finalizing the deal. How do you imagine it? What are your words going to be? What is the spirit of your counterpart’s response then? Imagine the actual deal signing. Think of this like a wedding rehearsal and plan accordingly.

3. Conjure the ideal client

It is not enough to just visualize the business transactions and negotiations, you have to conjure the client you want as well. All clients are not the same. There is no one who is a perfect client. You have to convert all clients into the ideal client. Think of each client listing their positives and ending with what you would like to change about them. For example, say to yourself that I love this client for their clear briefs and great team spirit, however, it would be much better if only they would pay on time.

Now visualize them paying you on time. What is happening that is making them pay on time? Perhaps you have visualized sending invoices earlier or sending a friendly reminder their way by way of a personal chat or a quick call. Visualizing the ideal client and then your own set of actions that can help convert every client into the ideal client is the way of applying the law of attraction principle to client relationships.

4. Dream up the perfect team

Great business ideas, amazing discussions and the ideal client still do not make for great success. The dream team is what creates success. We all know this. Just like perfect clients, there are no perfect employees, however, the good news is that you can shape your team into the ideal team.

Say you have a great team with skills in Strategy, Distributor relationships, Retail merchandising but lacking in Marketing skills. Visualize as having a great team with all skills except an acquirable skill of Marketing. Visualize every smaller team being equipped with Marketing skills.

How do you see this happening? Are you going to be employing a marketing skill set equipped person in each team? Are you going to train team members who have the aptitude for it to perform marketing tasks as well? It could also be a mix of both approaches. Whatever it is, you need to visualize it to the last detail, even to the degree of what kind of training you would be providing to them.  

“Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don’t do it.” – Mark Cuban

5. Count your highs at the end of the day

This is the only part where future oriented visualization has no place. You have to go over the entire business day and religiously note down all the positives. Sometimes the positives may not be tangible acquisitions such as a contract or a payment or project completion. There would be intangible acquisitions such as the realization of what was needed to improve your team, or the first steps taken towards visualizing your negotiation.

It doesn’t matter, you have to count the positives that today has brought. Celebrate the key notes of the day with your team and verbalize why you are celebrating. This brings the entire team to apply the law of attraction in their own business days as well.

Successful entrepreneurs apply these skills with great mastery. Follow these easy ways and apply the Law of Attraction to your business as well. Your success is certain and imminent. Are you ready for it?

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Braggart, Blowhard, and Annoyingly Successful: How to Promote Yourself and Your Ideas

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Most of us don’t want to look like a braggart, which is good. However, sometimes it makes us stay in the shadow without showing our positive sides. We remain silent about our achievements. The thing is, sometimes politeness can play a bad joke on you. This great feature of your character can become one of those things that prevent you from succeeding.

If you don’t show your positive side in meetings and interviews, there will always be somebody else to do it. When such people get a promotion, your politeness doesn’t seem so useful.

Self-confidence turns out to be a very important quality because confident people who are not afraid to speak of their achievements are usually seen as more competent. However, modesty is still considered a virtue in most cultures. The reason is obvious: Most blowhards just don’t understand how annoying their bragging can be.

Braggart, Blowhard, and Annoyingly Successful

The definition of a braggart is a very talkative person who turns any conversation into an opportunity to talk about his or her personal achievements and goals, constantly glorifying himself or herself. A blowhard is, in general, the same sort of person: too loud, talkative, and boastful.

There’s nothing bad about enjoying your success, in fact, what is the point of success if we cannot be proud of ourselves? The thing is, everyone must understand where to stop.

For example, when you talk to your friends at dinner there’s nothing wrong with sharing your experiences so others can celebrate your success with you. Don’t turn each conversation into a monologue and don’t forget that other people also have interesting stories to tell.

“Talk to someone about themselves and they’ll listen for hours.” – Dale Carnegie

Why You Shouldn’t Be Afraid to Promote Yourself

Excessive modesty makes a bad impression. People who talk themselves down all the time shouldn’t be surprised if others also don’t find them likable. Some people are so afraid of being a blowhard that they get anxious about describing their good sides. As a result, they miss many opportunities.

If you’re afraid of talking about your own achievements, it means that you don’t believe that your work is valuable. Such an approach is unlikely to create an attractive image.

You need to understand that your work has little to do with your personality. Braggarts love themselves more than anything, and their point is to convince others that they are the best.

Only talk about what you actually did, and what is important about your achievements. This is not bragging. All you need to do is show others that you can contribute to your team or organization.

If you want to succeed in the world of business, you need to gain the attention and respect of your colleagues. The very fact that you’re afraid of being annoying means that you’re likely not that sort of person who will turn self-promotion into bragging. It’s time to face the other side of the coin and push yourself through your fears towards success.

Now that you’re ready to get out of your shell, let us help you with a few tips below:

1. Talk about your work and challenges

If you don’t want to sound arrogant, don’t say “It was so easy.” Great accomplishments don’t come easily, and everybody knows it. Tell others how hard you needed to work to achieve these great results. Everybody respects those who work hard and put a lot of effort into their work.

2. Don’t downplay other people’s achievements

Even if you’ve made more sales than anyone else, it’s not a reason to emphasize it. You don’t need to compare yourself to others, instead, compare yourself to your own past. Remember how you started and compare it to what you have now — this is a good sort of comparison that also motivates others.

3. Be thankful

Listen to any Oscar winner’s speeches, and you’ll notice that all these people don’t consider this success as their own. Don’t forget to mention how your team helped and supported you. Thank your company for the opportunity to become who you are.

“Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” – Oprah Winfrey

4. Stick to the facts

It’s easy to say “I’m a brilliant leader,” but the only message you deliver this way is that you love yourself. Let others judge you based on facts. Describe how your team managed to double sales after you took it over.

5. Avoid humble-bragging

Some people try to disguise their bragging as a complaint. The truth is, this method doesn’t work. If you say “I’m so embarrassed I scratched my Bugatti Veyron,” this remark will only show how insincere you are.

It’s important to get comfortable with yourself and your success. Don’t be afraid to share your achievements, just make sure you deliver the right message. Show others that you can make a valuable contribution, and you’ll promote yourself without being arrogant.

How do you make other people feel important and valued when they are talking? Let us know in the comments below!

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4 Unusual Ways to Identify Your Strengths When You’ve Tried Everything Else

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Did you ever find it difficult to identify your strengths in life? Many people identify their strengths and weaknesses during the early stages of their lives however, successful leaders can argue that this may need to be the other way around. In other words, we tend to forget about our strengths and how we can effectively use them; and instead, we desperately try to further improve our weaknesses.

We sometimes tend to focus on the negative things we see around us and in turn, miss out on all the positive energy that other people and nature produce for to us enjoy. This is to be expected – not all days are the same and we are human after all. In some cases though, it may simply be because we are not sure of what our best skill set is.

Regardless of the reason, you may find yourself getting stressed out because you can’t seem to understand the things you are performing the best at – instead, you may be noticing your weaknesses. If you are tired of searching for your best strengths as an individual, note that there are ways you can easily find your strengths and weaknesses, without really putting out too much effort.

Below you will see the 4 ways that can help you identify your strengths when you can’t think of anything else to do:

1. Complete A Personality Test

A personality test will help you figure out up to five main personality traits, in addition to other skills you may possess, considering that you aren’t already aware of them. Even though this may not be the perfect solution in knowing what you’re great at, it will help you come closer to the different aspects of your personality.

Knowing what your personality is made up of is an essential element for figuring out the suitable career path you may want to take, the right people to hang out with, and the right objectives you should be following.

“If you know the enemy and know yourself you need not fear the results of a hundred battles.” – Sun Tzu

2. Take An Aptitude Test

An aptitude test is essentially created to determine a person’s ability in a specific skill or field of knowledge. It will help you understand what skills you excel at by asking a series of questions and based on the answers you provide, it will evaluate which skills you are more fitted to outshine. Make sure to have a proper go at the test as it can positively help you decide which career path is more suitable for you.

3. Receive Feedback From Friends, Family And Colleagues

Receiving feedback from friends, family and colleagues is a great way to quickly and easily tap into the different strengths and skills you may have displayed around them in the past. This activity may include a series of questions around you passion, hobbies and previously shown successes.

First, start the conversation by telling them your passion and hobbies, or in other words, the task you can enthusiastically work on for many hours. Ask your friend to outline three to five of your strengths that are somehow related to what you just mentioned; this may include direct strengths but also transferable skills.

Following this, take a minute to device a fictional scenario where you can apply those skills getting you closer to your career goals. Let them know of your thoughts and how you can further employ these in the given setting.

“We all need people who will give us feedback. That’s how we improve.” – Bill Gates

4. Use Numerology

This may be a bit of a controversial suggestion as you might not believe in the overall concept; and that’s absolutely fine. Nevertheless, it would be great to be aware of such an option in case you ever want to give it a try.

Numerology essentially refers to the mystical relationship between a number and specific events in someone’s life. You can check it out to understand more about yourself and maybe find new ways on how you can further grow as an individual.

Take Away Message

Finding new ways to improve our strengths and skills may indeed seem difficult sometimes, however, approaching this from multiple perspectives can prove to deliver great benefits to both our personal and career development.

Focus on always improving yourself in any way possible – that may be by employing traditional methods or even quickly applying a few or all of the above tips. The important thing is to make sure that you continuously use what works best for you and you will soon see the results of your efforts for yourself. You will come to realise that your strengths have greatly increased in both quantity and quality over time.

Which one of these ways will help you in identifying your best strength? Let us know in the comments below!

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