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Billionaire Mark Cuban’s Advice On How To Get Rich

Joel Brown (Founder of Addicted2Success.com)

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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

 

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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24 Comments

24 Comments

  1. manny

    Jan 17, 2015 at 7:01 am

    mark cuban must be smoking some good stuff. he just suggested a 6month cd which is avg 0.80% when last year inflation was avg 1.4% so my money is doing nothing not even keeping up with inflation and somehow im richer then everyone else? whats next mark keep working at my dead end job save my money at the bank and retire so broke on social security that I have to keep working until I die? Also you say that great ideas are never shared thus everyone else is just scamming each other? LMAO Oh boy tin foil is next for you. This post was for suckers imo.

  2. Angel Villanueva

    Oct 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

  3. B.Veenman

    Sep 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

  4. Vital KARANGWA

    Jan 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!

  5. Ibukun

    Dec 30, 2012 at 8:26 am

    Nice article

  6. Darlington

    Nov 29, 2012 at 9:59 am

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

  7. Hollington Tong

    Nov 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.

  8. jacob

    Sep 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

  9. Reemo

    Aug 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

      Dec 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

      Dec 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.

  10. Mike

    Jul 29, 2012 at 12:29 am

    Couldn’t agree more about the statement regarding cash.

  11. Nedu

    Jul 14, 2012 at 4:18 am

    I ve read d post and comments dat ve followed.i observe dat as d years go by and inflation is hitting d roof,a lot of pple wil find it difficult 2 cope not 2 talk of get rich. U save up money and inflation preys on it and u think u ve moved an inch. IF U THINK ABOUT GETTING RICH INSTEAD OF THINKING ABOUT CREATING VALUE THAT U RE PASSIONATE ABOUT,it maybe difficult and impossible 2 be rich.

    • Shamus Mac

      Jul 30, 2012 at 11:25 pm

      “If you think about getting rich instead of… creating value that you’re passionate about, it may be difficult and impossible to be rich.”

      @Nedu: Truer words have hardly been said!

      MLM companies are group-think institutions which dedicate their training seminars to teach only recruitment and ignore retail techniques, because their customers are, in fact, you “independent distributors” which are coerced to fulfil minimum monthly purchase levels to maintain your precious and hard-won discount rate.

      And what an ideal customer you are! Whether you consume or resell or not is no concern of the MLM parent company. The more inspirational seminars you attend, and the more resources you dedicate to reach those exotic locations, the longer it will take for you to accept reality, despite your pantry full of overstock, and friends which have either become your direct competitors or ostracised you for attempting to profit off them.

      I now profit off independent distributors by providing prepopulated e-commerce solutions for a specific MLM company in a sincere attempt to help those who, like members of my immediate family, persist because the mark-ups do look great on paper. What inspired this? Aside from sympathy, the realization that many people made a smart profit off the California gold rush; but almost all of them simply ran tool shops to supply the gold diggers.

  12. Adrian Keys

    Jul 8, 2012 at 1:55 am

    “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.”

    The most important for the very last…sweet! Nice post….

  13. dave amos

    Jun 5, 2012 at 11:13 am

    I think Lauren is right on the button, he has spelt it out in a simple black n white way to make a point, but basically he is right, learn about business from the bottom up, save your money, work 10% harder than the average and you’ll do well, my dad had a phrase – if you want something done “Find a busy man” I never understood at first, only thing I would add is – don’t let the corporate ladder be the thing that ties you into a salary, jump off at some point and do your own thing … apart from that delay a family as long as you can – that’s advice for men of course … good luck, it’s hard work. 🙂

  14. Mark Hibbitts

    Jun 3, 2012 at 8:20 am

    Lauren is correct that the areas are pretty broad, but I think this is a pretty good article as it tells it like it is. Getting wealthy takes time and discipline, and there are no short cuts. Yes you need to learn investing too but without cash that’s a waste of time. Cash flow is king.

    I’m also interested in seeing Laurens website as I write books for children about the same things and there may be a potential JV for us.

    Mark Hibbitts

  15. DeJuan Collins

    May 1, 2012 at 7:04 pm

    I agree with a lot of his advice, except the business model of a good MLM company this business model may not make you rich, but could create you seed money to invest in other entrepreneurial opportunities. For a few hundred dollars to get started you could break even really fast and be on the road to profit pretty quickly.

  16. Gabriel Do Carmo

    Apr 27, 2012 at 2:53 pm

    I disagree with some, if not most, of what Mark Cuban said. For anybody reading this comment, go read the book Rich Dad Poor Dad by Robert Kiyosaki. It will COMPLETELY change your mindset for the better

  17. Eduardo Salido

    Mar 22, 2012 at 8:38 am

    I dont agree with him, if you have a family it means two paychecks not one! Of course a parent spends with children but the amount is not alot. I think this guy got lucky, Ive read a couple of blogs from him and he just sounds nonsense.

  18. dbizzle03

    Mar 5, 2012 at 7:15 pm

    I stopped reading after he said that most things are schemes and to put your savings into a 6 month CD at the bank. Clearly, not the way to get ahead when there are better ways of saving. There are plenty of vehicles to use to get to where you want to go, the key really is you have to WORK to get there.

  19. Lauren Sainz

    Mar 2, 2012 at 3:11 pm

    I have a website that targets getting financial information to young adults, information that they aren’t getting from high schools or colleges. In my opinion, it’s great that Mr. Cuban has created a rich lifestyle for himself and was able to retire in his 20s. However, some of the points he makes are very broad and won’t work for everyone.

    In a perfect world, starting in your teenage years you’ll know the ins-and-outs of managing money, you won’t charge up credit card debt, you’ll spend less than you make, you’ll save 10% of your income, and you’ll always be able to buy what you need without struggle. For Mr. Cuban, he seemed to understand that and I applaud him for understanding at such a young age.

    However, this new generation of young adults are accustomed to the life of buying now, paying later. They don’t have the discipline to save money and pay for things with cash. They want to go to college and cannot pay for it so they must take out student loans.

    The idea of getting a job and learning all there is to learn about that business and then waiting for your opportunity to strike sounds like an idea that will fail for most. Nobody wants to be told to wait to get rich.

    I’m a firm believer in knowledge is power and I understand the idea of learning all there is to learn about a business. However, ultimately an investment has to be made in yourself either through additional schooling or to start a business.

    I started my website almost a year ago. I’m only just now seeing revenue come in from ads that I place on my site. All my information I give on the site is free to my readers and I never charge for anything. I found something that I love doing and I do that through writing about personal finance on the web.

    But before I started my site, I had to get my knowledge from somewhere. I went to school. I took out massive student loans. I racked up credit card debt when paychecks were too short to pay bills. I made financial mistakes and I’ve learned from them. I’m doing better.

    Most young adults are not starting out with a clean slate. They have debt to repay. They don’t have the time to wait to save money. Some are too strapped that they cannot pay more than the minimum on their debt and there is no room for savings. So, based on Mr. Cubans idea of saving every penny, that won’t work for them because they don’t have enough pennies to save.

    The key to getting rich isn’t just finding a business that interests you and learning about it and saving every penny you have, it’s about deciding where you want to invest your money. You can invest in an education for yourself, invest in a venture someone you know wants to do, invest in a business opportunity for yourself, or invest in your future (retirement accounts). Yes, stay away from scams, but multi-level marketing isn’t evil. There are legit MLM companies out there to choose from. You just have to do your research first and be passionate about the product they sell. If you aren’t passionate about a product, you won’t be able to sell that product through a MLM business. There are also legit stay-at-home jobs online.

    The point is your options for getting rich are endless and as long as you remain focused, it can happen for you. You just have to find your passion and start from there.

    • kirk davis (@kirkd12)

      Mar 2, 2012 at 5:20 pm

      Nice post Lauren and very noble of you not to advertise your website but I would be interested in reading some of your stuff so please do provide a link or tweet me (@kirkd12)

      thanks

      • Raymond Duke

        Mar 2, 2012 at 8:25 pm

        I too have recently started a site, and have been leaving comments on blogs I follow or find interesting. And Kirk, I agree with you about not linking to the site in your comment because it makes it seem as if you are fishing for hits. If you are leaaving a genuine thoughtful comment, then you are more likely to gain the interest of its reader who will then go on to your site which hopefully leads to more genuine and thoughtful information. By the way, you can visit the site of the person who left the comment by going to their avatar and clicking “visit site” underneath it. Doing this, or clicking on the person’s name, will bring you to their site usually on most most places or sites that let you leave comments.

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Success Advice

How to Use the “Small Victories” Method to Avoid Burning Out

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Have you had a goal you begin to work toward only to run out of steam? Do you know what you need to do to get to where you want to be, but the necessary work feels overwhelming? “Small Victories” is the method to eliminate procrastination, dramatically increase productivity, and to make every part of the process not just bearable, but fun.

The journey from novice to rockstar is filled with a thousand small victories. Each victory increases your skill, your confidence, your positive expectation, and is ultimately the only way to really do something truly great.

Imagine you have a band in which everything was fun- fun to practice, fun to get together and create. The first victory was writing your first song. Afterwards, some friends come to watch you practice, and they cheer you on giving you another boost. Then you play your first show, do your first band photoshoot, and create a band website. After all this hard work, you record your first song as a band, have your first major show, your first tour, and develop the best thing so far which are your first true fans.

Each victory gives you the energy to get to the next victory

If you told the kid, it was going to take ten years of work to get to the end goal, without celebrating the small important victories in between, it would be illogical for any human to hunker down and work 10 years to get there. So how is this relevant? When starting a business or following your dream, incentivizing yourself with small victories will make you far more likely to make you continue on to your end goal. Without it, your willpower only lasts so long.

The small victories are the positive fuel to make it to the next milestone. You create small victories by finding a way to interact with people as a way to have an impact even if it’s small. For example, when people try to start businesses, often they try to get everything together before selling their first product. It could be months or years of work before they are at the level of their competition.

I am a series of small victories and large defeats and I am as amazed as any other that I have gotten from there to here. Charles Bukowski

Say you’re creating a bakery, it could be a year before anyone tried your first baked good if you go the traditional brick and mortar route without any small victories. This comes with great financial cost and energy. You also lose out on the opportunity to improve your craft, your products, your image and your connections with others who can take your business to greater heights.

However, if you go with the method of small victories instead, you would start by creating a cult following amongst friends and family with your decadent treats. Next, you would bake them at home and sell them at local events, farmers markets, and maybe even at local businesses. This can give you the opportunity to create a strong local and social media following well before the opening of your first actual store.

Work and effort without small victories lead to burnout

We need to build rewards along the way into our endeavors, because this provides encouragement to keep going. Each moment is a separate gift, an experience where something was fulfilled, where something was accomplished, no matter how small, and being a recluse until the grand unveiling will have so many missed opportunities along the way.

Small victories are also an opportunity to develop your skills, get feedback – positive or constructive – and considerably increase opportunities. Small victories increase your credibility by showing a track record and the trajectory you’re on by increasing your ability to attract investors and partners.

“Success is rarely the result of one swell swoop, but more often the culmination of many, many small victories.” – Joseph M. Marshall III

The idea of celebrating small victories can be applied to any subject. In weight loss, for instance, seeing pounds melt away will give you the positive mindset to continue and even improve the choices you make to enhance your physique. Sharing your success with others will bring in the element of positive encouragement. It can also motivate others to come with you on the journey. Your small victories can inspire others to start their own journey.

What small victory did you achieve today which will bring you a step closer to your goals? Let us know below!

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Success Advice

Setting Up Your Mindset to Win: How to Achieve Success in Your Life and Career

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How did Usain Bolt become so successful? He seems superhuman, doesn’t he? Richard Branson, Steve Jobs, Paul Bocuse… all these people have something special in them. They became the stars in their niche. Have you ever wondered why? No, they do not have any superhuman capacity. They are simple people, just like you and I. They, too, had flaws. Their mindset, however, is what set them apart. If you want to win in your career and in life, generally, you need the mindset of a winner. You have to think like a true champion, so you’ll overcome your flaws and emphasize your strengths.

So how do you set the mindset to win? Here are 5 suggestions to get you started:

1. When You Can’t Achieve a Goal, Get Help

Have you heard of Paul Bocuse? He was one of the most famous chefs of his time, and he was named as the chef of the century. This is a good example of the point we’re about to make. Even the best are not almighty, they have to learn from someone. Paul Bocuse learned from another famous chef. He constantly worked to improve his skills and he learned along the way.

The lesson is: you cannot do everything on your own. This is the first thing you have to do: learn and find the right person to learn from. Are there any books by the champions of your chosen niche? Get them and read them. Can you get a mentor? Of course, you can! Start connecting with people on LinkedIn. Your alumni network is a great source of mentorship opportunities, too. Don’t be afraid to reach out and say that you want to learn from someone.   

“Don’t let the fear of losing be greater than the excitement of winning.” – Robert Kiyosaki

2. Work on Your Resilience

Here’s the most important life lesson you’ll ever learn: things don’t always go as expected. When you strive towards a particular goal, the chances of failure are real. When Usain Bolt started training, he wasn’t the fastest man on Earth. He worked towards that goal and he was resilient enough to go through all the obstacles he faced. We couldn’t possibly assume that such success came easily for him.

The journey towards a successful life is not a straight line, it’s a bumpy road full of difficulties and setbacks. The average person would give up along the way, but a champion would stay resilient. It’s the mindset that makes a true difference. The good news is that the more obstacles you overcome, the more resilient you become.

3. Focus

What do you want in your career and in your life? This is not something that can go with the flow. You cannot simply live your life one random day after another and expect great things to come your way. You have to focus on particular goals and work your way up there.

Ken Chenault, CEO of American Express, has a nice tip for everyone who wants to become successful: “Dedicate yourself to a core set of values. Without them, you will never be able to find personal fulfillment, and you will never be able to lead effectively.”

Simple and straight to the point, right? So set your goals! Find that major goal you want to achieve and break it up into smaller achievements. Then, start accomplishing things on a daily basis. You need to devote your life to achieving that goal.

4. Be Bold

Steve Jobs wasn’t focused on getting an average job, achieving average results and living an average life. He had big dreams and bold goals. All successful people have something in common at the starting point, a bold dream. Being afraid to dream big is a huge mistake. Set your imagination free! What’s the biggest thing you’d like to achieve? If you believe in yourself and you start working towards that goal one day after another, you’ll unlock your true potential. You’ll realize that not many things are impossible. You can achieve much more than you believe you’re capable of.

“If you really look closely, most overnight successes took a long time.” – Steve Jobs

5. If You Fall, Get Back Up

Have you ever wondered why Richard Branson became so successful? The answer is simple: never gave up, no matter what hardships he faced. His first company didn’t make money. The test flight of Virgin Atlantic Airlines almost crashed because of a flock of birds. Virgin Cola, his soda company, failed miserably. He almost got himself killed during his trip around the world. Richard Branson has done many things, but do you know what he never did? Give up. No matter how serious the failure was, he always found the strength to get back up on his feet and carry on with life. That’s the mindset of a champion!

Never allow yourself to get disappointed from failure. Do not fall back into average just because your big dream doesn’t seem to be working. Failure is not a big deal. It’s just part of the journey, and everyone has to face it. If you carry on, you’ll find success along the way.

So you want to be a champion? You better start working towards that goal without wasting any time. The first step is changing your mindset. Hopefully, the tips above inspired you to do that.

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Success Advice

3 Important Principles You Need to Know That All Billionaires Have in Common

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I’ve always been highly interested in the similarities amongst the world’s wealthiest. Their habits, successes, mindset, and failures have fascinated me. The journey to great prosperity can seem overwhelming, but if you apply success principles to any endeavor you can quickly and efficiently overcome challenges and expand.

Michael J. Gabrielli, founder of WeRunAds, has spent hundreds of hours and tens of thousands of dollars studying billionaires and their habits. Michael has also studied over 2000 different billionaires and from this experience he’s found three principles they all had in common.

Here are the 3 principles the billionaires all had in common:

1. Be in a rapid growth industry at the right time

Timing is so important. Billionaires know when the time is right to enter a market. Most billionaires do not enter first or second into a market because of the inherent risks involved. Many billionaires let the pioneers pave the way and then leverage the knowledge gained to innovate and optimize in order to create something that works.

The key is to find an industry that is soon to take off. Stepping in at the right time is important. Let’s take a real life example that is known all too well– the founder and CEO of Facebook, Mark Zuckerberg. When he entered the scene, the idea of a social network was moderately known, but it was still not quite predicted to be the monster it is today.

Others like Friendster, Myspace, etc. had made some headway into this fledgeling industry and then Facebook entered leveraging the knowledge and expertise gained from the early pioneers. Zuckerberg saw the huge potential of social networking, took what was done previously and made it better.

He is presently worth over $66 Billion and the company has surpassed the 2 billion users mark with 1.4 billion using the platform daily. Not surprisingly, many billionaires were not the first to pioneer the industry they would later find success in. They came in at the right moment, learned from the mistakes and triumphs of their predecessors, and made a lasting final product.

Here’s a practical 3 question exercise you can do to judge if you have the right timing with your current venture:

  1. Look at your industry and say—is this brand new?
  2. Am I trying to invent something that doesn’t exist?
  3. Am I too late to the party?

2. Position yourself better

In addition to finding the right industry and getting in at the right time, billionaires position themselves in the best way. They provide the solution to the need and they think outside the box to do it. Optimal positioning is a commonality amongst billionaires. For example, during the California Gold Rush, people rushed to mine for the gold itself blinded by the promise of large profits.

However, it turned out that Sam Brannan had the better idea for how to position himself for success. He knew the chances of finding gold were risky, so instead he committed to a sure thing. He manufactured the tools that were needed by all the miners to mine gold. As each new miner migrated West, they were happily met by Brannan and his company who were ready and waiting to sell these new hopefuls the shovels and tools they’d need to strike it rich.

Digging for gold seemed to be the most profitable route, however, greater returns were yielded in the supplying of materials required to mine for gold! A good company that also illustrates this concept is Microsoft. They did not seek to create their own computer, but the software that computers would run on. Most people mistakenly think they have to “go for the gold” to attain wealth, but it’s evident in history that selling the necessary tools to the gold miners can be far more profitable.

The two questions you need to ask yourself to see how you could position yourself correctly are, “What industries will need the supplies that I could provide? And, “Am I following the trend instead of innovating?

“Big shots are only little shots that keep shooting. I can see your sun rise out of obscurity. Keep shooting” – Ikechukwu Joseph

3. Take calculated risks

Most people choose the safe bet that is secure, however, this is not common among billionaires. Billionaires take big calculated risks in order to propel themselves to higher levels of influence and success. The most important thing to note here is that while to others the risks seem big—to billionaires, they are calculated.Risk and Calculated Risk are not the same. Calculated risk is measured and well-thought-out. Risk is impulsive and immeasurable. Understanding the difference between the two is a commonality among billionaires. The world’s most prominent figures have at some point in their lives disagreed with the ordinary and took a shot at the unknown. Proper calculation and clever thinking certainly accompanied the bold moves they made in their careers.

Howard Schultz, the CEO of Starbucks, is a great example of this. He had grown up in poverty and made his way out to earn a comfortable wage as an executive at a company that manufactured coffeemakers.

“Risk more than others think safe.” – Howard Schultz

He risked it all when he discovered a small coffee shop named “Starbucks” in Seattle that prompted him to quit his job and step out to create a company that was inspired by the Italian coffee culture and personal relationship people could have with their coffee.

Of the 242 people he spoke to, 217 said no to investing with him. Despite the discouragement, lack of agreement, and investment, Schultz kept pushing on. Fast forward to present time, and Starbucks’ is a massive success. Strong intuition and unshakeable belief is common among high achievers. Many successful billionaires risked their safe jobs, personal assets, and even their reputation to take calculated risks that they knew would pay off huge in the end.

The questions you need to ask yourself now are, “where can I take a calculated risk? Am I holding back when I should be going forward? What tangible steps can I take today to move forward?”

These 3 success principles are staple elements that are common among many billionaires. Now, there are more principles that you must discover and implement in order to become a billionaire. Work diligently and do all that can be done each day. Be inquisitive and study those that you wish to emulate.

Which one of these principles do you need to work on more this year? Let us know in the comments below!

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One Question You Must Answer to Ensure Personal Success

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I don’t believe in quick fixes, in get-rich-quick schemes, or any other system that guarantees instant success with only a modicum of effort. But, I do believe it’s possible to condense great strings of logical thought and intellectual algorithms into basics. I like to keep things simple! Many of my clients love the fact that I don’t overly complete things, and frankly, so do I! I like to ask simple questions whose answers can be had quickly but require some focus in obtaining the outcome.

Here’s the question I always ask: What is standing between your current reality (where you are now) and your ultimate vision (where you want to be)? Are the impediments psychological, physical, emotional or some other reason?

Until you answer what is causing the difference between your AS IS and your SHOULD BE, you will be stuck spinning your wheels in the mud and the muck of the former. This is an important question that requires a level of mental self-examination. And the answer to this question may require a lifetime of introspection. It is an important question to answer because if you know where you want to go that provides direction but examining why you are not there yet can provide momentum. (In other words, by answering the question it may get you there faster!)

“Success is not final; failure is not fatal: It is the courage to continue that counts.” – Winston S. Churchill

It’s just like following a road map. A map is useless unless you know two things, where you are, and where you want to go. What might be stopping you (or at least slowing you down) from the ultimate destination of your passion and life’s fulfilment?

I’ve asked many people about this over the years and have heard these four reasons that keep people from moving forward.

1. Lack of vision

How do you plan to get there, if you don’t know where “there” is? The most difficult undertaking in the world is to sit quietly with a blank sheet of paper and chart out your life. I know, I have many blank sheets of paper to prove it. However, I also found out that it only takes one sheet, with a few well-crafted lines of thought to give you the direction you need. But you need to start!

2. Lack of goals

So, you know where you want to go, you just don’t know how to get there. The second hardest thing in the world is to have a sheet of paper with your ultimate destination on top, and the rest blank as you ask yourself, now what or how do I get to my vision? The process of functional decomposition means breaking down the larger process into steps that are both actionable and motivational. In other words, the steps are small enough to do and you remain motivated because they are so small.

“Successful people do what unsuccessful people are not willing to do. Don’t wish it were easier; wish you were better.” – Jim Rohn

3. You don’t believe you can get there

You want to, but there is a script running through your head telling you to go home, make some chicken soup and don’t leave the house until these foolish notions of greatness are gone. Think about it, your parents never did what you are trying to do, no one in your family has ever done it, you are far too old (or too young) to do that, you don’t have the right education…your rationalizing can go on for a lifetime! Here is my suggestion when it comes to running those self-deprecating scripts: STOP IT!

4. You are lazy

You won’t admit this to yourself, but perhaps you are just plain lazy. I’ve seen it so many times; individuals majoring in minors. Performing high fun, low payoff activities instead of the low fun, high payoff activities. (And, by the way, who ever said that a high payoff activity can’t be fun? There’s that darn script again.) As a species we are inclined to take the path of least resistance, but that path may not lead us to our vision, but you must admit, we are having a great time NOT moving toward our vision! Laziness is not “doing nothing.” It’s doing the wrong thing because that’s what you want to do, and, very often, we know it’s the wrong thing to do!

There you have the four possible things that might be holding you back from the realization of your vision. Are any of them hitting home? Answer this question before you move on:

What is standing between my current reality and my ultimate vision of success?

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5 Counterintuitive Ways to Make the Most Out of Your Time

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Do you think you’ll accomplish everything you want to before you die? Do you sometimes worry you won’t reach your goals? Do you have a plan to get what you want? If you’re like most people, you often have trouble squeezing in everything you want to do during the day, week or month, let alone everything you might want to accomplish in a lifetime. Updates from friends on Facebook, Instagram and Snapchat come in to your phone at all hours of the day and night. Invites to activities, events, festivals, etc. blow up your phone on a regular basis. (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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24 Comments

24 Comments

  1. manny

    Jan 17, 2015 at 7:01 am

    mark cuban must be smoking some good stuff. he just suggested a 6month cd which is avg 0.80% when last year inflation was avg 1.4% so my money is doing nothing not even keeping up with inflation and somehow im richer then everyone else? whats next mark keep working at my dead end job save my money at the bank and retire so broke on social security that I have to keep working until I die? Also you say that great ideas are never shared thus everyone else is just scamming each other? LMAO Oh boy tin foil is next for you. This post was for suckers imo.

  2. Angel Villanueva

    Oct 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

  3. B.Veenman

    Sep 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

  4. Vital KARANGWA

    Jan 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!

  5. Ibukun

    Dec 30, 2012 at 8:26 am

    Nice article

  6. Darlington

    Nov 29, 2012 at 9:59 am

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

  7. Hollington Tong

    Nov 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.

  8. jacob

    Sep 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

  9. Reemo

    Aug 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

      Dec 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

      Dec 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.

  10. Mike

    Jul 29, 2012 at 12:29 am

    Couldn’t agree more about the statement regarding cash.

  11. Nedu

    Jul 14, 2012 at 4:18 am

    I ve read d post and comments dat ve followed.i observe dat as d years go by and inflation is hitting d roof,a lot of pple wil find it difficult 2 cope not 2 talk of get rich. U save up money and inflation preys on it and u think u ve moved an inch. IF U THINK ABOUT GETTING RICH INSTEAD OF THINKING ABOUT CREATING VALUE THAT U RE PASSIONATE ABOUT,it maybe difficult and impossible 2 be rich.

    • Shamus Mac

      Jul 30, 2012 at 11:25 pm

      “If you think about getting rich instead of… creating value that you’re passionate about, it may be difficult and impossible to be rich.”

      @Nedu: Truer words have hardly been said!

      MLM companies are group-think institutions which dedicate their training seminars to teach only recruitment and ignore retail techniques, because their customers are, in fact, you “independent distributors” which are coerced to fulfil minimum monthly purchase levels to maintain your precious and hard-won discount rate.

      And what an ideal customer you are! Whether you consume or resell or not is no concern of the MLM parent company. The more inspirational seminars you attend, and the more resources you dedicate to reach those exotic locations, the longer it will take for you to accept reality, despite your pantry full of overstock, and friends which have either become your direct competitors or ostracised you for attempting to profit off them.

      I now profit off independent distributors by providing prepopulated e-commerce solutions for a specific MLM company in a sincere attempt to help those who, like members of my immediate family, persist because the mark-ups do look great on paper. What inspired this? Aside from sympathy, the realization that many people made a smart profit off the California gold rush; but almost all of them simply ran tool shops to supply the gold diggers.

  12. Adrian Keys

    Jul 8, 2012 at 1:55 am

    “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.”

    The most important for the very last…sweet! Nice post….

  13. dave amos

    Jun 5, 2012 at 11:13 am

    I think Lauren is right on the button, he has spelt it out in a simple black n white way to make a point, but basically he is right, learn about business from the bottom up, save your money, work 10% harder than the average and you’ll do well, my dad had a phrase – if you want something done “Find a busy man” I never understood at first, only thing I would add is – don’t let the corporate ladder be the thing that ties you into a salary, jump off at some point and do your own thing … apart from that delay a family as long as you can – that’s advice for men of course … good luck, it’s hard work. 🙂

  14. Mark Hibbitts

    Jun 3, 2012 at 8:20 am

    Lauren is correct that the areas are pretty broad, but I think this is a pretty good article as it tells it like it is. Getting wealthy takes time and discipline, and there are no short cuts. Yes you need to learn investing too but without cash that’s a waste of time. Cash flow is king.

    I’m also interested in seeing Laurens website as I write books for children about the same things and there may be a potential JV for us.

    Mark Hibbitts

  15. DeJuan Collins

    May 1, 2012 at 7:04 pm

    I agree with a lot of his advice, except the business model of a good MLM company this business model may not make you rich, but could create you seed money to invest in other entrepreneurial opportunities. For a few hundred dollars to get started you could break even really fast and be on the road to profit pretty quickly.

  16. Gabriel Do Carmo

    Apr 27, 2012 at 2:53 pm

    I disagree with some, if not most, of what Mark Cuban said. For anybody reading this comment, go read the book Rich Dad Poor Dad by Robert Kiyosaki. It will COMPLETELY change your mindset for the better

  17. Eduardo Salido

    Mar 22, 2012 at 8:38 am

    I dont agree with him, if you have a family it means two paychecks not one! Of course a parent spends with children but the amount is not alot. I think this guy got lucky, Ive read a couple of blogs from him and he just sounds nonsense.

  18. dbizzle03

    Mar 5, 2012 at 7:15 pm

    I stopped reading after he said that most things are schemes and to put your savings into a 6 month CD at the bank. Clearly, not the way to get ahead when there are better ways of saving. There are plenty of vehicles to use to get to where you want to go, the key really is you have to WORK to get there.

  19. Lauren Sainz

    Mar 2, 2012 at 3:11 pm

    I have a website that targets getting financial information to young adults, information that they aren’t getting from high schools or colleges. In my opinion, it’s great that Mr. Cuban has created a rich lifestyle for himself and was able to retire in his 20s. However, some of the points he makes are very broad and won’t work for everyone.

    In a perfect world, starting in your teenage years you’ll know the ins-and-outs of managing money, you won’t charge up credit card debt, you’ll spend less than you make, you’ll save 10% of your income, and you’ll always be able to buy what you need without struggle. For Mr. Cuban, he seemed to understand that and I applaud him for understanding at such a young age.

    However, this new generation of young adults are accustomed to the life of buying now, paying later. They don’t have the discipline to save money and pay for things with cash. They want to go to college and cannot pay for it so they must take out student loans.

    The idea of getting a job and learning all there is to learn about that business and then waiting for your opportunity to strike sounds like an idea that will fail for most. Nobody wants to be told to wait to get rich.

    I’m a firm believer in knowledge is power and I understand the idea of learning all there is to learn about a business. However, ultimately an investment has to be made in yourself either through additional schooling or to start a business.

    I started my website almost a year ago. I’m only just now seeing revenue come in from ads that I place on my site. All my information I give on the site is free to my readers and I never charge for anything. I found something that I love doing and I do that through writing about personal finance on the web.

    But before I started my site, I had to get my knowledge from somewhere. I went to school. I took out massive student loans. I racked up credit card debt when paychecks were too short to pay bills. I made financial mistakes and I’ve learned from them. I’m doing better.

    Most young adults are not starting out with a clean slate. They have debt to repay. They don’t have the time to wait to save money. Some are too strapped that they cannot pay more than the minimum on their debt and there is no room for savings. So, based on Mr. Cubans idea of saving every penny, that won’t work for them because they don’t have enough pennies to save.

    The key to getting rich isn’t just finding a business that interests you and learning about it and saving every penny you have, it’s about deciding where you want to invest your money. You can invest in an education for yourself, invest in a venture someone you know wants to do, invest in a business opportunity for yourself, or invest in your future (retirement accounts). Yes, stay away from scams, but multi-level marketing isn’t evil. There are legit MLM companies out there to choose from. You just have to do your research first and be passionate about the product they sell. If you aren’t passionate about a product, you won’t be able to sell that product through a MLM business. There are also legit stay-at-home jobs online.

    The point is your options for getting rich are endless and as long as you remain focused, it can happen for you. You just have to find your passion and start from there.

    • kirk davis (@kirkd12)

      Mar 2, 2012 at 5:20 pm

      Nice post Lauren and very noble of you not to advertise your website but I would be interested in reading some of your stuff so please do provide a link or tweet me (@kirkd12)

      thanks

      • Raymond Duke

        Mar 2, 2012 at 8:25 pm

        I too have recently started a site, and have been leaving comments on blogs I follow or find interesting. And Kirk, I agree with you about not linking to the site in your comment because it makes it seem as if you are fishing for hits. If you are leaaving a genuine thoughtful comment, then you are more likely to gain the interest of its reader who will then go on to your site which hopefully leads to more genuine and thoughtful information. By the way, you can visit the site of the person who left the comment by going to their avatar and clicking “visit site” underneath it. Doing this, or clicking on the person’s name, will bring you to their site usually on most most places or sites that let you leave comments.

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Success Advice

How to Use the “Small Victories” Method to Avoid Burning Out

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Have you had a goal you begin to work toward only to run out of steam? Do you know what you need to do to get to where you want to be, but the necessary work feels overwhelming? “Small Victories” is the method to eliminate procrastination, dramatically increase productivity, and to make every part of the process not just bearable, but fun.

The journey from novice to rockstar is filled with a thousand small victories. Each victory increases your skill, your confidence, your positive expectation, and is ultimately the only way to really do something truly great.

Imagine you have a band in which everything was fun- fun to practice, fun to get together and create. The first victory was writing your first song. Afterwards, some friends come to watch you practice, and they cheer you on giving you another boost. Then you play your first show, do your first band photoshoot, and create a band website. After all this hard work, you record your first song as a band, have your first major show, your first tour, and develop the best thing so far which are your first true fans.

Each victory gives you the energy to get to the next victory

If you told the kid, it was going to take ten years of work to get to the end goal, without celebrating the small important victories in between, it would be illogical for any human to hunker down and work 10 years to get there. So how is this relevant? When starting a business or following your dream, incentivizing yourself with small victories will make you far more likely to make you continue on to your end goal. Without it, your willpower only lasts so long.

The small victories are the positive fuel to make it to the next milestone. You create small victories by finding a way to interact with people as a way to have an impact even if it’s small. For example, when people try to start businesses, often they try to get everything together before selling their first product. It could be months or years of work before they are at the level of their competition.

I am a series of small victories and large defeats and I am as amazed as any other that I have gotten from there to here. Charles Bukowski

Say you’re creating a bakery, it could be a year before anyone tried your first baked good if you go the traditional brick and mortar route without any small victories. This comes with great financial cost and energy. You also lose out on the opportunity to improve your craft, your products, your image and your connections with others who can take your business to greater heights.

However, if you go with the method of small victories instead, you would start by creating a cult following amongst friends and family with your decadent treats. Next, you would bake them at home and sell them at local events, farmers markets, and maybe even at local businesses. This can give you the opportunity to create a strong local and social media following well before the opening of your first actual store.

Work and effort without small victories lead to burnout

We need to build rewards along the way into our endeavors, because this provides encouragement to keep going. Each moment is a separate gift, an experience where something was fulfilled, where something was accomplished, no matter how small, and being a recluse until the grand unveiling will have so many missed opportunities along the way.

Small victories are also an opportunity to develop your skills, get feedback – positive or constructive – and considerably increase opportunities. Small victories increase your credibility by showing a track record and the trajectory you’re on by increasing your ability to attract investors and partners.

“Success is rarely the result of one swell swoop, but more often the culmination of many, many small victories.” – Joseph M. Marshall III

The idea of celebrating small victories can be applied to any subject. In weight loss, for instance, seeing pounds melt away will give you the positive mindset to continue and even improve the choices you make to enhance your physique. Sharing your success with others will bring in the element of positive encouragement. It can also motivate others to come with you on the journey. Your small victories can inspire others to start their own journey.

What small victory did you achieve today which will bring you a step closer to your goals? Let us know below!

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Success Advice

Setting Up Your Mindset to Win: How to Achieve Success in Your Life and Career

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How did Usain Bolt become so successful? He seems superhuman, doesn’t he? Richard Branson, Steve Jobs, Paul Bocuse… all these people have something special in them. They became the stars in their niche. Have you ever wondered why? No, they do not have any superhuman capacity. They are simple people, just like you and I. They, too, had flaws. Their mindset, however, is what set them apart. If you want to win in your career and in life, generally, you need the mindset of a winner. You have to think like a true champion, so you’ll overcome your flaws and emphasize your strengths.

So how do you set the mindset to win? Here are 5 suggestions to get you started:

1. When You Can’t Achieve a Goal, Get Help

Have you heard of Paul Bocuse? He was one of the most famous chefs of his time, and he was named as the chef of the century. This is a good example of the point we’re about to make. Even the best are not almighty, they have to learn from someone. Paul Bocuse learned from another famous chef. He constantly worked to improve his skills and he learned along the way.

The lesson is: you cannot do everything on your own. This is the first thing you have to do: learn and find the right person to learn from. Are there any books by the champions of your chosen niche? Get them and read them. Can you get a mentor? Of course, you can! Start connecting with people on LinkedIn. Your alumni network is a great source of mentorship opportunities, too. Don’t be afraid to reach out and say that you want to learn from someone.   

“Don’t let the fear of losing be greater than the excitement of winning.” – Robert Kiyosaki

2. Work on Your Resilience

Here’s the most important life lesson you’ll ever learn: things don’t always go as expected. When you strive towards a particular goal, the chances of failure are real. When Usain Bolt started training, he wasn’t the fastest man on Earth. He worked towards that goal and he was resilient enough to go through all the obstacles he faced. We couldn’t possibly assume that such success came easily for him.

The journey towards a successful life is not a straight line, it’s a bumpy road full of difficulties and setbacks. The average person would give up along the way, but a champion would stay resilient. It’s the mindset that makes a true difference. The good news is that the more obstacles you overcome, the more resilient you become.

3. Focus

What do you want in your career and in your life? This is not something that can go with the flow. You cannot simply live your life one random day after another and expect great things to come your way. You have to focus on particular goals and work your way up there.

Ken Chenault, CEO of American Express, has a nice tip for everyone who wants to become successful: “Dedicate yourself to a core set of values. Without them, you will never be able to find personal fulfillment, and you will never be able to lead effectively.”

Simple and straight to the point, right? So set your goals! Find that major goal you want to achieve and break it up into smaller achievements. Then, start accomplishing things on a daily basis. You need to devote your life to achieving that goal.

4. Be Bold

Steve Jobs wasn’t focused on getting an average job, achieving average results and living an average life. He had big dreams and bold goals. All successful people have something in common at the starting point, a bold dream. Being afraid to dream big is a huge mistake. Set your imagination free! What’s the biggest thing you’d like to achieve? If you believe in yourself and you start working towards that goal one day after another, you’ll unlock your true potential. You’ll realize that not many things are impossible. You can achieve much more than you believe you’re capable of.

“If you really look closely, most overnight successes took a long time.” – Steve Jobs

5. If You Fall, Get Back Up

Have you ever wondered why Richard Branson became so successful? The answer is simple: never gave up, no matter what hardships he faced. His first company didn’t make money. The test flight of Virgin Atlantic Airlines almost crashed because of a flock of birds. Virgin Cola, his soda company, failed miserably. He almost got himself killed during his trip around the world. Richard Branson has done many things, but do you know what he never did? Give up. No matter how serious the failure was, he always found the strength to get back up on his feet and carry on with life. That’s the mindset of a champion!

Never allow yourself to get disappointed from failure. Do not fall back into average just because your big dream doesn’t seem to be working. Failure is not a big deal. It’s just part of the journey, and everyone has to face it. If you carry on, you’ll find success along the way.

So you want to be a champion? You better start working towards that goal without wasting any time. The first step is changing your mindset. Hopefully, the tips above inspired you to do that.

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3 Important Principles You Need to Know That All Billionaires Have in Common

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I’ve always been highly interested in the similarities amongst the world’s wealthiest. Their habits, successes, mindset, and failures have fascinated me. The journey to great prosperity can seem overwhelming, but if you apply success principles to any endeavor you can quickly and efficiently overcome challenges and expand.

Michael J. Gabrielli, founder of WeRunAds, has spent hundreds of hours and tens of thousands of dollars studying billionaires and their habits. Michael has also studied over 2000 different billionaires and from this experience he’s found three principles they all had in common.

Here are the 3 principles the billionaires all had in common:

1. Be in a rapid growth industry at the right time

Timing is so important. Billionaires know when the time is right to enter a market. Most billionaires do not enter first or second into a market because of the inherent risks involved. Many billionaires let the pioneers pave the way and then leverage the knowledge gained to innovate and optimize in order to create something that works.

The key is to find an industry that is soon to take off. Stepping in at the right time is important. Let’s take a real life example that is known all too well– the founder and CEO of Facebook, Mark Zuckerberg. When he entered the scene, the idea of a social network was moderately known, but it was still not quite predicted to be the monster it is today.

Others like Friendster, Myspace, etc. had made some headway into this fledgeling industry and then Facebook entered leveraging the knowledge and expertise gained from the early pioneers. Zuckerberg saw the huge potential of social networking, took what was done previously and made it better.

He is presently worth over $66 Billion and the company has surpassed the 2 billion users mark with 1.4 billion using the platform daily. Not surprisingly, many billionaires were not the first to pioneer the industry they would later find success in. They came in at the right moment, learned from the mistakes and triumphs of their predecessors, and made a lasting final product.

Here’s a practical 3 question exercise you can do to judge if you have the right timing with your current venture:

  1. Look at your industry and say—is this brand new?
  2. Am I trying to invent something that doesn’t exist?
  3. Am I too late to the party?

2. Position yourself better

In addition to finding the right industry and getting in at the right time, billionaires position themselves in the best way. They provide the solution to the need and they think outside the box to do it. Optimal positioning is a commonality amongst billionaires. For example, during the California Gold Rush, people rushed to mine for the gold itself blinded by the promise of large profits.

However, it turned out that Sam Brannan had the better idea for how to position himself for success. He knew the chances of finding gold were risky, so instead he committed to a sure thing. He manufactured the tools that were needed by all the miners to mine gold. As each new miner migrated West, they were happily met by Brannan and his company who were ready and waiting to sell these new hopefuls the shovels and tools they’d need to strike it rich.

Digging for gold seemed to be the most profitable route, however, greater returns were yielded in the supplying of materials required to mine for gold! A good company that also illustrates this concept is Microsoft. They did not seek to create their own computer, but the software that computers would run on. Most people mistakenly think they have to “go for the gold” to attain wealth, but it’s evident in history that selling the necessary tools to the gold miners can be far more profitable.

The two questions you need to ask yourself to see how you could position yourself correctly are, “What industries will need the supplies that I could provide? And, “Am I following the trend instead of innovating?

“Big shots are only little shots that keep shooting. I can see your sun rise out of obscurity. Keep shooting” – Ikechukwu Joseph

3. Take calculated risks

Most people choose the safe bet that is secure, however, this is not common among billionaires. Billionaires take big calculated risks in order to propel themselves to higher levels of influence and success. The most important thing to note here is that while to others the risks seem big—to billionaires, they are calculated.Risk and Calculated Risk are not the same. Calculated risk is measured and well-thought-out. Risk is impulsive and immeasurable. Understanding the difference between the two is a commonality among billionaires. The world’s most prominent figures have at some point in their lives disagreed with the ordinary and took a shot at the unknown. Proper calculation and clever thinking certainly accompanied the bold moves they made in their careers.

Howard Schultz, the CEO of Starbucks, is a great example of this. He had grown up in poverty and made his way out to earn a comfortable wage as an executive at a company that manufactured coffeemakers.

“Risk more than others think safe.” – Howard Schultz

He risked it all when he discovered a small coffee shop named “Starbucks” in Seattle that prompted him to quit his job and step out to create a company that was inspired by the Italian coffee culture and personal relationship people could have with their coffee.

Of the 242 people he spoke to, 217 said no to investing with him. Despite the discouragement, lack of agreement, and investment, Schultz kept pushing on. Fast forward to present time, and Starbucks’ is a massive success. Strong intuition and unshakeable belief is common among high achievers. Many successful billionaires risked their safe jobs, personal assets, and even their reputation to take calculated risks that they knew would pay off huge in the end.

The questions you need to ask yourself now are, “where can I take a calculated risk? Am I holding back when I should be going forward? What tangible steps can I take today to move forward?”

These 3 success principles are staple elements that are common among many billionaires. Now, there are more principles that you must discover and implement in order to become a billionaire. Work diligently and do all that can be done each day. Be inquisitive and study those that you wish to emulate.

Which one of these principles do you need to work on more this year? Let us know in the comments below!

Image courtesy of Twenty20.com

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Success Advice

One Question You Must Answer to Ensure Personal Success

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personal success
Image Credit: Twenty20.com

I don’t believe in quick fixes, in get-rich-quick schemes, or any other system that guarantees instant success with only a modicum of effort. But, I do believe it’s possible to condense great strings of logical thought and intellectual algorithms into basics. I like to keep things simple! Many of my clients love the fact that I don’t overly complete things, and frankly, so do I! I like to ask simple questions whose answers can be had quickly but require some focus in obtaining the outcome.

Here’s the question I always ask: What is standing between your current reality (where you are now) and your ultimate vision (where you want to be)? Are the impediments psychological, physical, emotional or some other reason?

Until you answer what is causing the difference between your AS IS and your SHOULD BE, you will be stuck spinning your wheels in the mud and the muck of the former. This is an important question that requires a level of mental self-examination. And the answer to this question may require a lifetime of introspection. It is an important question to answer because if you know where you want to go that provides direction but examining why you are not there yet can provide momentum. (In other words, by answering the question it may get you there faster!)

“Success is not final; failure is not fatal: It is the courage to continue that counts.” – Winston S. Churchill

It’s just like following a road map. A map is useless unless you know two things, where you are, and where you want to go. What might be stopping you (or at least slowing you down) from the ultimate destination of your passion and life’s fulfilment?

I’ve asked many people about this over the years and have heard these four reasons that keep people from moving forward.

1. Lack of vision

How do you plan to get there, if you don’t know where “there” is? The most difficult undertaking in the world is to sit quietly with a blank sheet of paper and chart out your life. I know, I have many blank sheets of paper to prove it. However, I also found out that it only takes one sheet, with a few well-crafted lines of thought to give you the direction you need. But you need to start!

2. Lack of goals

So, you know where you want to go, you just don’t know how to get there. The second hardest thing in the world is to have a sheet of paper with your ultimate destination on top, and the rest blank as you ask yourself, now what or how do I get to my vision? The process of functional decomposition means breaking down the larger process into steps that are both actionable and motivational. In other words, the steps are small enough to do and you remain motivated because they are so small.

“Successful people do what unsuccessful people are not willing to do. Don’t wish it were easier; wish you were better.” – Jim Rohn

3. You don’t believe you can get there

You want to, but there is a script running through your head telling you to go home, make some chicken soup and don’t leave the house until these foolish notions of greatness are gone. Think about it, your parents never did what you are trying to do, no one in your family has ever done it, you are far too old (or too young) to do that, you don’t have the right education…your rationalizing can go on for a lifetime! Here is my suggestion when it comes to running those self-deprecating scripts: STOP IT!

4. You are lazy

You won’t admit this to yourself, but perhaps you are just plain lazy. I’ve seen it so many times; individuals majoring in minors. Performing high fun, low payoff activities instead of the low fun, high payoff activities. (And, by the way, who ever said that a high payoff activity can’t be fun? There’s that darn script again.) As a species we are inclined to take the path of least resistance, but that path may not lead us to our vision, but you must admit, we are having a great time NOT moving toward our vision! Laziness is not “doing nothing.” It’s doing the wrong thing because that’s what you want to do, and, very often, we know it’s the wrong thing to do!

There you have the four possible things that might be holding you back from the realization of your vision. Are any of them hitting home? Answer this question before you move on:

What is standing between my current reality and my ultimate vision of success?

Image courtesy of Twenty20.com

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