Mark Cuban Is Giving TikTok Truth Bombs About The Three Easiest Ways To Make More Money
You know Mark Cuban: big personality, bigger bank account. He traded mustard sandwiches for billionaire bites. Now the Dallas Mavericks’ owner is serving up his golden rules on cash on his TikTok. Buckle up for Cuban’s no-nonsense, straight-shooting financial playbook.
In a new TikTok Tip Of The Day, Cuban shares a wealth of advice on building a prosperous financial future. Here’s what he had to say:
1. Embrace the Power of Savings:
“And that word is cash. There are only two ways to get more cash in your financial life. Number one, save,” Cuban explains in his TikTok Tip Of The Day.
The billionaire emphasizes the value of skipping life’s small luxuries. “You don’t need that extra latte, that extra streaming subscription going to that fancy dinner.” Instead, he recommends, “You wanna put that in a money market account earning five, maybe more percent, and watch that sucker grow. That’ll make you feel a whole lot better than that extra latte.”
Of course, a billionaire telling all us non-billionaires that skipping on coffee is the best way to build wealth is a highly-controversial take. “Nothing like a billionaire telling you that you don’t need a $5 coffee,” says one commenter on TikTok.
But, the math is important here. Investing a $160 a-month coffee habit into a Roth IRA can mean a $315,828 tax-free gain when it matures in 30 years.
2. Become Exceptional at Something
The road to greatness is paved with dedication. Cuban states, “You have to be good at something. But being good at something takes time.”
If you excel in your field, the financial rewards will follow: “Because when you’re great, people recognize your greatness and they wanna pay you more.” And if you’re thinking of starting a business, Cuban suggests, “the best businesses are started with sweat equity.”
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3. Start Small and Capitalize on Your Strengths
Mark Cuban warns against rushing to raise funds. Instead, he emphasizes bootstrapping and leveraging one’s unique skills:
“One of the big mistakes that people make is they think they should go out there and raise money first,” Cuban says in the TikTok video. “Wrong. You wanna go out there and just start as small and tiny and basic as you can by just selling your time, selling that smartness that you have to your potential customers.”
Drawing from personal experience, he shares, “When I started my company, Micro Solutions, I was sleeping on the floor, eating mustard and ketchup sandwiches… but I’d gotten good… So I went to a potential customer… and I said, look guys, I know you want the software and I know I can help you install it and support it, but I got nothing, zero, zippo. And I’ll tell you what, if you guys front me the money for that software… I will walk your dog, I will wash your car, I don’t care what it is to make it up for you.”
Mark explains how his gamble with his first company paid off: “It worked. And that was the start of MicroSolution. So I went from being fired… and turn it into a company that I sold for $6 million when I was 29 years old.”
His parting advice? “It can happen to you, but you gotta realize it takes time. And there are no shortcuts. And it’s not about other people’s money, it’s about the effort that you put into it.”
In essence, Mark Cuban’s recipe for success is a mix of smart savings, mastering a skill, and leveraging personal strengths to provide value. It’s a tried and tested formula, but as always, execution is key.