Success is not about having more money or connections than the other guy. It’s about being willing to “outwork and outlearn everyone when it comes to your business,” says Mark Cuban, the tech billionaire who owns the Dallas Mavericks basketball team and chairs the cable network HDNet Inc.
Here’s what else he says to aspiring leaders:
1. Don’t worry about failure. You’ll learn from it and do better the next time.
2. Put yourself out there. When he was on his way up, Cuban was relentless in learning new tech as it emerged. He also devoured every book and magazine he could find on the topic, and made himself a presence at industry conferences.
3. Making a sacrifice is sometimes necessary. For a time, Cuban lived in a three-bedroom apartment with five other guys, slept on the floor and subsisted on $1.29 chicken dinners. He didn’t have time to make himself comfortable; he was busy launching a hardware and software integration company.
“It allowed me to stay focused on turning MicroSolutions into a $30 million business,” he says.
4. Stay hungry. “Someone is out there who thinks they have a better idea than you have. A better solution than you have. A better or more efficient product than you have,” he says. Your job is to stay one step ahead and “kick your own ass.”
— Adapted from “Mark Cuban: Outwork and Outlearn Your Competition,” Jason Fell, Entrepreneur.