hi I’m Evan Carmichael welcome to another edition involving the Masters I
another edition involving the Masters I
another edition involving the Masters I believe that the fastest and most
believe that the fastest and most
believe that the fastest and most effective way to bury business is to
effective way to bury business is to
effective way to bury business is to model the strategies of people who have
model the strategies of people who have
model the strategies of people who have already done what you’re trying to do so
already done what you’re trying to do so
already done what you’re trying to do so today we’re going to look at how a young
today we’re going to look at how a young
today we’re going to look at how a young man went from selling garbage bags to
man went from selling garbage bags to
man went from selling garbage bags to becoming a billionaire entrepreneur and
becoming a billionaire entrepreneur and
becoming a billionaire entrepreneur and a really outspoken one at that this is a
a really outspoken one at that this is a
a really outspoken one at that this is a story of Dallas Mavericks NBA owner Mark
story of Dallas Mavericks NBA owner Mark
story of Dallas Mavericks NBA owner Mark Cuban and a top three lessons you can
Cuban and a top three lessons you can
Cuban and a top three lessons you can learn from his success Mark Cuban is the
learn from his success Mark Cuban is the
learn from his success Mark Cuban is the well-known outspoken and brash owner of
well-known outspoken and brash owner of
well-known outspoken and brash owner of the Dallas Mavericks NBA basketball team
the Dallas Mavericks NBA basketball team
the Dallas Mavericks NBA basketball team who wears his heart on his sleeve and as
who wears his heart on his sleeve and as
who wears his heart on his sleeve and as a result is prone to many publicized
a result is prone to many publicized
a result is prone to many publicized outbursts but the billionaire Cuban is
outbursts but the billionaire Cuban is
outbursts but the billionaire Cuban is also an entrepreneur at heart having
also an entrepreneur at heart having
also an entrepreneur at heart having created more startups in his early years
created more startups in his early years
created more startups in his early years than most others in a lifetime however
than most others in a lifetime however
than most others in a lifetime however this is not the way Cuban started out
this is not the way Cuban started out
this is not the way Cuban started out his upbringing was middle-class and with
his upbringing was middle-class and with
his upbringing was middle-class and with a housewife for a mother and his father
a housewife for a mother and his father
a housewife for a mother and his father and uncle working in an upholstery shop
and uncle working in an upholstery shop
and uncle working in an upholstery shop he began selling garbage bags local
he began selling garbage bags local
he began selling garbage bags local residents at the age of 12 and this was
residents at the age of 12 and this was
residents at the age of 12 and this was the start of his entrepreneurship career
the start of his entrepreneurship career
the start of his entrepreneurship career he graduated from Mount Lebanon High
he graduated from Mount Lebanon High
he graduated from Mount Lebanon High School in 1976 but not before
School in 1976 but not before
School in 1976 but not before establishing a reputation as a hustler
establishing a reputation as a hustler
establishing a reputation as a hustler looking back Cuban guesses that his
looking back Cuban guesses that his
looking back Cuban guesses that his classmates would have predicted he would
classmates would have predicted he would
classmates would have predicted he would either wind up in jail or owning a
either wind up in jail or owning a
either wind up in jail or owning a business thankfully it was the latter
business thankfully it was the latter
business thankfully it was the latter that would prove to be correct cuban got
that would prove to be correct cuban got
that would prove to be correct cuban got his first real job selling franchises
his first real job selling franchises
his first real job selling franchises for a company called tronics 2000 a TV
for a company called tronics 2000 a TV
for a company called tronics 2000 a TV repair shop he left after just four
repair shop he left after just four
repair shop he left after just four months when his idea to branch out into
months when his idea to branch out into
months when his idea to branch out into computer repairs was met with rejection
computer repairs was met with rejection
computer repairs was met with rejection they didn’t see a future in computers
they didn’t see a future in computers
they didn’t see a future in computers cuban recalls unemployed cuban began to
cuban recalls unemployed cuban began to
cuban recalls unemployed cuban began to ask himself what kind of business he
ask himself what kind of business he
ask himself what kind of business he could start on his own i saw an ad for
could start on his own i saw an ad for
could start on his own i saw an ad for somebody selling powdered milk and i
somebody selling powdered milk and i
somebody selling powdered milk and i thought everybody needs milk like they
thought everybody needs milk like they
thought everybody needs milk like they need garbage bags he said so cuban
need garbage bags he said so cuban
need garbage bags he said so cuban created a company to sell powdered milk
created a company to sell powdered milk
created a company to sell powdered milk but it was a self-admitted disaster
but it was a self-admitted disaster
but it was a self-admitted disaster after four failed businesses he began
after four failed businesses he began
after four failed businesses he began working for your business software a 90
working for your business software a 90
working for your business software a 90 company but was later fired cuban
company but was later fired cuban
company but was later fired cuban convinced some of its other employees to
convinced some of its other employees to
convinced some of its other employees to leave the company and join him in his
leave the company and join him in his
leave the company and join him in his later venture micro solutions it would
later venture micro solutions it would
later venture micro solutions it would be a systems integrator and reseller for
be a systems integrator and reseller for
be a systems integrator and reseller for various IT companies including IBM an
various IT companies including IBM an
various IT companies including IBM an apple
apple
apple in just eight years the company had sold
in just eight years the company had sold
in just eight years the company had sold over 500 networks that ranged in size
over 500 networks that ranged in size
over 500 networks that ranged in size from two to over a thousand users by
from two to over a thousand users by
from two to over a thousand users by investing in cutting-edge technology and
investing in cutting-edge technology and
investing in cutting-edge technology and providing outstanding customer service
providing outstanding customer service
providing outstanding customer service Marko solutions had become a major
Marko solutions had become a major
Marko solutions had become a major player in the promising new IT industry
player in the promising new IT industry
player in the promising new IT industry so major that in 1990 Cubans sold the
so major that in 1990 Cubans sold the
so major that in 1990 Cubans sold the company the CompuServe for six million
company the CompuServe for six million
company the CompuServe for six million dollars cuban was 32 years old and a
dollars cuban was 32 years old and a
dollars cuban was 32 years old and a millionaire he decided to take an early
millionaire he decided to take an early
millionaire he decided to take an early retirement but it wouldn’t be long
retirement but it wouldn’t be long
retirement but it wouldn’t be long before his entrepreneurial instincts
before his entrepreneurial instincts
before his entrepreneurial instincts kicked in and brought him back into the
kicked in and brought him back into the
kicked in and brought him back into the game
game
game in 1995 together with college buddy Todd
in 1995 together with college buddy Todd
in 1995 together with college buddy Todd Wagner cuban created a company called
Wagner cuban created a company called
Wagner cuban created a company called audio net totally missing the games of
audio net totally missing the games of
audio net totally missing the games of their college basketball team cuban and
their college basketball team cuban and
their college basketball team cuban and wagner created audio net which used new
wagner created audio net which used new
wagner created audio net which used new streaming technology to broadcast sports
streaming technology to broadcast sports
streaming technology to broadcast sports games over the Internet
games over the Internet
games over the Internet in 1998 Audio net became broadcast comm
in 1998 Audio net became broadcast comm
in 1998 Audio net became broadcast comm and the company went public at the time
and the company went public at the time
and the company went public at the time and had the largest single-day gain in
and had the largest single-day gain in
and had the largest single-day gain in the history of the stock market with
the history of the stock market with
the history of the stock market with over 330 employees and annual revenues
over 330 employees and annual revenues
over 330 employees and annual revenues in a neighborhood of a hundred million
in a neighborhood of a hundred million
in a neighborhood of a hundred million dollars cuban sold the company to Yahoo
dollars cuban sold the company to Yahoo
dollars cuban sold the company to Yahoo for 5.7 billion dollars in stock in 2000
for 5.7 billion dollars in stock in 2000
for 5.7 billion dollars in stock in 2000 cubic purchased the Dallas Mavericks for
cubic purchased the Dallas Mavericks for
cubic purchased the Dallas Mavericks for 285 million dollars and immediately set
285 million dollars and immediately set
285 million dollars and immediately set out to revive the team with courtside
out to revive the team with courtside
out to revive the team with courtside presence at every game and his outspoken
presence at every game and his outspoken
presence at every game and his outspoken and passionate nature Cuban quickly
and passionate nature Cuban quickly
and passionate nature Cuban quickly became a fan favorite
became a fan favorite
became a fan favorite by not giving up and by bouncing back
by not giving up and by bouncing back
by not giving up and by bouncing back after lots of failures
after lots of failures
after lots of failures Mark Cuban was able to go from selling
Mark Cuban was able to go from selling
Mark Cuban was able to go from selling garbage bags to becoming a billionaire
garbage bags to becoming a billionaire
garbage bags to becoming a billionaire entrepreneur and turned his life around
entrepreneur and turned his life around
entrepreneur and turned his life around to help you turn your business around
to help you turn your business around
to help you turn your business around here are the top three action items and
here are the top three action items and
here are the top three action items and lessons you can learn from Mark Cuban
action item number one know more than
action item number one know more than everyone else if you want people to buy
everyone else if you want people to buy
everyone else if you want people to buy from you they have to trust you to get
from you they have to trust you to get
from you they have to trust you to get them to trust you it helps to know what
them to trust you it helps to know what
them to trust you it helps to know what you’re talking about
you’re talking about
you’re talking about take the time to research and know more
take the time to research and know more
take the time to research and know more about your industry than your
about your industry than your
about your industry than your competitors do it’ll give you an
competitors do it’ll give you an
competitors do it’ll give you an advantage when your position in your
advantage when your position in your
advantage when your position in your business as well as convince buyers that
business as well as convince buyers that
business as well as convince buyers that they’re going with the right person by
they’re going with the right person by
they’re going with the right person by choosing you throat University Cuban was
choosing you throat University Cuban was
choosing you throat University Cuban was a self-proclaimed party animal he shared
a self-proclaimed party animal he shared
a self-proclaimed party animal he shared a three-bedroom apartment with five
a three-bedroom apartment with five
a three-bedroom apartment with five other guys who all had a routine of
other guys who all had a routine of
other guys who all had a routine of buying cheap bottles of champagne to
buying cheap bottles of champagne to
buying cheap bottles of champagne to last him the whole night sleeping
last him the whole night sleeping
last him the whole night sleeping arrangements were determined based on
arrangements were determined based on
arrangements were determined based on how late they each got home that all
how late they each got home that all
how late they each got home that all changed when Cuban landed his first job
changed when Cuban landed his first job
changed when Cuban landed his first job with your business software he was
with your business software he was
with your business software he was excited to be finally beginning a job
excited to be finally beginning a job
excited to be finally beginning a job that might actually hold a promising
that might actually hold a promising
that might actually hold a promising career ahead but he was also scared
career ahead but he was also scared
career ahead but he was also scared instead of giving in to his fear Cuban
instead of giving in to his fear Cuban
instead of giving in to his fear Cuban decided to do his homework each night he
decided to do his homework each night he
decided to do his homework each night he would bring home a different software
would bring home a different software
would bring home a different software manual and read it no matter how late it
manual and read it no matter how late it
manual and read it no matter how late it was
was
was soon Cuban found that he was not only
soon Cuban found that he was not only
soon Cuban found that he was not only actually able to adequately answer his
actually able to adequately answer his
actually able to adequately answer his customers questions about the software
customers questions about the software
customers questions about the software but he was also building a clientele
but he was also building a clientele
but he was also building a clientele from internet streaming to basketball to
from internet streaming to basketball to
from internet streaming to basketball to high-definition television juban did his
high-definition television juban did his
high-definition television juban did his homework to understand what his
homework to understand what his
homework to understand what his opportunities were according to Cuban
opportunities were according to Cuban
opportunities were according to Cuban I’ve never worked with an IBM PC in my
I’ve never worked with an IBM PC in my
I’ve never worked with an IBM PC in my life or calls Cuban not a single time
life or calls Cuban not a single time
life or calls Cuban not a single time and I’m going to be selling software for
and I’m going to be selling software for
and I’m going to be selling software for it turns out not a lot of people ever
it turns out not a lot of people ever
it turns out not a lot of people ever bothered to read the freaking manual so
bothered to read the freaking manual so
bothered to read the freaking manual so people started really thinking I knew my
people started really thinking I knew my
people started really thinking I knew my stuff everyone has ideas the hard part
stuff everyone has ideas the hard part
stuff everyone has ideas the hard part is doing the homework to know if the
is doing the homework to know if the
is doing the homework to know if the idea could work in the industry then
idea could work in the industry then
idea could work in the industry then doing the preparation to be able to
doing the preparation to be able to
doing the preparation to be able to execute on the idea do your homework and
execute on the idea do your homework and
execute on the idea do your homework and know your business better than anyone
know your business better than anyone
know your business better than anyone otherwise someone who knows more and
otherwise someone who knows more and
otherwise someone who knows more and works harder will kick your ass action
works harder will kick your ass action
works harder will kick your ass action dial number two don’t use shortcuts you
dial number two don’t use shortcuts you
dial number two don’t use shortcuts you can speed up your entrepreneurial
can speed up your entrepreneurial
can speed up your entrepreneurial journey by modeling success but at the
journey by modeling success but at the
journey by modeling success but at the end of the day you still have to do the
end of the day you still have to do the
end of the day you still have to do the work
work
work successful entrepreneurs work hard
successful entrepreneurs work hard
successful entrepreneurs work hard you have to work smart but you also have
you have to work smart but you also have
you have to work smart but you also have to work hard when Cuban first started
to work hard when Cuban first started
to work hard when Cuban first started his company micro solutions that was
his company micro solutions that was
his company micro solutions that was just about all he did he sacrificed his
just about all he did he sacrificed his
just about all he did he sacrificed his personal life his hobbies and much of
personal life his hobbies and much of
personal life his hobbies and much of his own money in order to get this
his own money in order to get this
his own money in order to get this business on its feet he didn’t take a
business on its feet he didn’t take a
business on its feet he didn’t take a vacation for seven years and except for
vacation for seven years and except for
vacation for seven years and except for his to motivational favorites he would
his to motivational favorites he would
his to motivational favorites he would never even made the time to read a
never even made the time to read a
never even made the time to read a fictional book during those seven years
fictional book during those seven years
fictional book during those seven years but for Cuban there was no other choice
but for Cuban there was no other choice
but for Cuban there was no other choice he knew that in order to succeed he
he knew that in order to succeed he
he knew that in order to succeed he would have to work twice as hard as the
would have to work twice as hard as the
would have to work twice as hard as the next guy it’s this quality the Cuban not
next guy it’s this quality the Cuban not
next guy it’s this quality the Cuban not only tries to embody himself but that he
only tries to embody himself but that he
only tries to embody himself but that he looks for in others when he hires in
looks for in others when he hires in
looks for in others when he hires in order to succeed Cuban stresses the
order to succeed Cuban stresses the
order to succeed Cuban stresses the importance of recognizing one’s own
importance of recognizing one’s own
importance of recognizing one’s own strengths and weaknesses there are no
strengths and weaknesses there are no
strengths and weaknesses there are no shortcuts to success according to cuban
shortcuts to success according to cuban
shortcuts to success according to cuban there are no shortcuts everyone tells
there are no shortcuts everyone tells
there are no shortcuts everyone tells you how they’re gonna be special but few
you how they’re gonna be special but few
you how they’re gonna be special but few do the work to get there do the work you
do the work to get there do the work you
do the work to get there do the work you have to work hard and try to put
have to work hard and try to put
have to work hard and try to put yourself in a position where if luck
yourself in a position where if luck
yourself in a position where if luck strikes you can see the opportunity and
strikes you can see the opportunity and
strikes you can see the opportunity and take advantage of it there’s always
take advantage of it there’s always
take advantage of it there’s always going to be someone out there that knows
going to be someone out there that knows
going to be someone out there that knows they have to compensate for maybe having
they have to compensate for maybe having
they have to compensate for maybe having less talent with harder work and
less talent with harder work and
less talent with harder work and preparation make sure you’re brutally
preparation make sure you’re brutally
preparation make sure you’re brutally honest with yourself about who you are
honest with yourself about who you are
honest with yourself about who you are you may think that you’re more talented
you may think that you’re more talented
you may think that you’re more talented than the next guy which is exactly what
than the next guy which is exactly what
than the next guy which is exactly what the next guy thinks as well work like
the next guy thinks as well work like
the next guy thinks as well work like there’s someone working 24 hours a day
there’s someone working 24 hours a day
there’s someone working 24 hours a day to take it all away from you and play
to take it all away from you and play
to take it all away from you and play like it’s your last chance to play
like it’s your last chance to play
like it’s your last chance to play action little number three learn from
action little number three learn from
action little number three learn from your failures builders happen to every
your failures builders happen to every
your failures builders happen to every successful entrepreneur if you look back
successful entrepreneur if you look back
successful entrepreneur if you look back on a career of any famous entrepreneur
on a career of any famous entrepreneur
on a career of any famous entrepreneur you’ll find failures don’t let failure
you’ll find failures don’t let failure
you’ll find failures don’t let failure keep you down one venture might not work
keep you down one venture might not work
keep you down one venture might not work but it doesn’t mean you’re not going to
but it doesn’t mean you’re not going to
but it doesn’t mean you’re not going to be a successful entrepreneur keep
be a successful entrepreneur keep
be a successful entrepreneur keep reaching out learn from your mistakes
reaching out learn from your mistakes
reaching out learn from your mistakes and start again more smartly if you
and start again more smartly if you
and start again more smartly if you don’t let failure keep you down you will
don’t let failure keep you down you will
don’t let failure keep you down you will know success despite being a billionaire
know success despite being a billionaire
know success despite being a billionaire by the time he reaches early 40s
by the time he reaches early 40s
by the time he reaches early 40s Cubans path to success was fraught with
Cubans path to success was fraught with
Cubans path to success was fraught with difficulties from his futile garbage bag
difficulties from his futile garbage bag
difficulties from his futile garbage bag business to his failed powdered milk
business to his failed powdered milk
business to his failed powdered milk venture to being fired from his first
venture to being fired from his first
venture to being fired from his first real job Cuban had experienced so much
real job Cuban had experienced so much
real job Cuban had experienced so much disappointment in his early years that
disappointment in his early years that
disappointment in his early years that even he was doubtful as to whether he
even he was doubtful as to whether he
even he was doubtful as to whether he would find success in any career
would find success in any career
would find success in any career it was also cut from his high school
it was also cut from his high school
it was also cut from his high school basketball team and had numerous credit
basketball team and had numerous credit
basketball team and had numerous credit cards caught up in front of his face he
cards caught up in front of his face he
cards caught up in front of his face he learned that you don’t have to get it
learned that you don’t have to get it
learned that you don’t have to get it right the first time
right the first time
right the first time Cupid never gave up on his dream of
Cupid never gave up on his dream of
Cupid never gave up on his dream of running his own business he continued to
running his own business he continued to
running his own business he continued to work towards his goal and knew that it
work towards his goal and knew that it
work towards his goal and knew that it would only take one successful business
would only take one successful business
would only take one successful business to make up for all his previous failed
to make up for all his previous failed
to make up for all his previous failed attempts instead of letting his failures
attempts instead of letting his failures
attempts instead of letting his failures get the better of him he went took each
get the better of him he went took each
get the better of him he went took each as a learning opportunity
as a learning opportunity
as a learning opportunity according to cuban always remember that
according to cuban always remember that
according to cuban always remember that no matter how many times you get shot
no matter how many times you get shot
no matter how many times you get shot down you will get smarter better and you
down you will get smarter better and you
down you will get smarter better and you only have to be right once to be
only have to be right once to be
only have to be right once to be successful I’m always afraid of failure
successful I’m always afraid of failure
successful I’m always afraid of failure it’s great motivation to work harder
it’s great motivation to work harder
it’s great motivation to work harder rejection has only been a distraction
rejection has only been a distraction
rejection has only been a distraction not a roadblock every no gets me closer
not a roadblock every no gets me closer
not a roadblock every no gets me closer to it yes
to it yes
to it yes was the saying I used to use all that
was the saying I used to use all that
was the saying I used to use all that matters in business is that you get it
matters in business is that you get it
matters in business is that you get it right once then everyone can tell you
right once then everyone can tell you
right once then everyone can tell you how lucky you are
how lucky you are
how lucky you are so remember know more than anyone else
so remember know more than anyone else
so remember know more than anyone else don’t use shortcuts and learn from your
don’t use shortcuts and learn from your
don’t use shortcuts and learn from your failures to finish up this video I
failures to finish up this video I
failures to finish up this video I wanted to share one of my favorite true
wanted to share one of my favorite true
wanted to share one of my favorite true stories of Mark Cuban and some of his
stories of Mark Cuban and some of his
stories of Mark Cuban and some of his best quotes Mark Cuban have been failing
best quotes Mark Cuban have been failing
best quotes Mark Cuban have been failing at almost every career he tried before
at almost every career he tried before
at almost every career he tried before the age of 30 would start a business and
the age of 30 would start a business and
the age of 30 would start a business and it would fail would get a job and then
it would fail would get a job and then
it would fail would get a job and then he’d get fired who would go broke and
he’d get fired who would go broke and
he’d get fired who would go broke and stay that way until he found something
stay that way until he found something
stay that way until he found something that would pay the bills
that would pay the bills
that would pay the bills according to cuban it was so bad that
according to cuban it was so bad that
according to cuban it was so bad that his parents are worried about what he
his parents are worried about what he
his parents are worried about what he was going to do for the rest of his life
was going to do for the rest of his life
was going to do for the rest of his life however that worry was not something
however that worry was not something
however that worry was not something that they coddled they continued to push
that they coddled they continued to push
that they coddled they continued to push him and knew that eventually he would
him and knew that eventually he would
him and knew that eventually he would find his niche he was struggling
find his niche he was struggling
find his niche he was struggling financially when he was fired from your
financially when he was fired from your
financially when he was fired from your business software but this gave him his
business software but this gave him his
business software but this gave him his first real business idea that worked he
first real business idea that worked he
first real business idea that worked he would later say that his parents always
would later say that his parents always
would later say that his parents always made him work harder than everyone else
made him work harder than everyone else
made him work harder than everyone else and teach him never to give up that’s
and teach him never to give up that’s
and teach him never to give up that’s what he did and became a billionaire
what he did and became a billionaire
what he did and became a billionaire because of those lessons
because of those lessons
because of those lessons [Music]
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