- Tubelator AI
- >
- Videos
- >
- Entertainment
- >
- Mark Cuban's Best Advice for Aspiring Entrepreneurs | Mogul Support | WIRED
Mark Cuban's Best Advice for Aspiring Entrepreneurs | Mogul Support | WIRED
Gain valuable insights from Mark Cuban as he answers business questions from Twitter. Learn about the importance of saving money, being prepared, and understanding the realities of starting a business. Discover what it takes to become a successful entrepreneur and create job opportunities in the tech industry.
Install Tubelator On Chrome
Video Summary & Chapters
1. Introduction 🎙️
Mark Cuban introduces Mogul Support and answers questions from the internet.
2. Leaving Full-Time Job for Entrepreneurship 💼
Advice on transitioning from a full-time job to becoming a full-time entrepreneur.
3. Billionaires and Job Creation 💰
Discussion on the role of entrepreneurs in creating jobs and the element of luck in becoming a billionaire.
4. Billionaires and Taxes 💸
Mark Cuban's perspective on billionaires paying more in taxes and their contribution to society.
5. Starting a Business with Limited Resources 📱💵
Strategies for making money with just a phone and $500, focusing on sales and entrepreneurship.
6. Investing in Sports Teams 🏟️
Exploring the concept of buying shares in sports teams as a gamble or investment.
7. Customer Service Perspective 🛒
Insight into the customer always being right and the entrepreneur's role in product innovation.
8. Underrated Business Opportunities 💡
Highlighting potential business ideas related to technology like Alexa and chat GPT.
9. Sports Industry Reflection 🏈🏀
Mark Cuban's take on changing aspects of the sports industry, focusing on officiating.
10. Cryptocurrency Outlook 🪙
Discussion on the future of cryptocurrency, its challenges, and the need for user-friendly applications.
11. NFTs as Future Tickets 🎟️
Exploring the future use of NFTs as event tickets for profit sharing.
12. Reasons for Business Failure 📉
Key factors leading to business failures and the importance of sales and preparation.
13. NFT Market Insights 📈
Discussing the ups and downs of the NFT market and the comparison to other industries.
14. Advice to Younger Self 🕰️
Reflecting on the importance of respecting and being kind to those around you when starting a business.
15. Mark Cuban on Shark Tank 🦈
Mark Cuban's perspective on being the best shark on Shark Tank and his approach to helping entrepreneurs.
16. Annoying Business Buzzwords 🤬
Mark Cuban's dislike for buzzwords like 'disruptor' and 'cohort' in business conversations.
17. Understanding Funding Rounds 💰
Simplifying the explanation of series ABCD funding rounds in business.
18. Insight on Venture Capital 🦅
Mark Cuban's perspective on venture capital and its impact on startups and entrepreneurs.
19. Common Mistake by Entrepreneurs
Focusing solely on raising money and its impact on ownership.
20. Daily Habits for Success
Importance of reading, curiosity, and agility in business.
21. Understanding CPA and CAC
Explaining the difference between cost per acquisition and customer acquisition cost.
22. Knowing When to Quit
Factors to consider in deciding to continue or close a business.
23. Making Life-Changing Decisions
Balancing the value of money and time in business.
24. Overcoming Challenges
Mark Cuban's experience and advice on pushing through tough times.
25. The Prescription Drug Industry 🏥
Insights on the workings of the prescription drug industry.
26. Starting CosplusDrugs.com 💊
Initiating a new venture in the pharmaceutical industry.
27. Entrepreneurial Insights 🚀
Advice on starting a business in challenging industries.
28. Q&A Session Wrap-Up 🎤
Closing remarks on viewer questions and entrepreneurship.
29. Final Thoughts and Farewell 🌟
Parting words on entrepreneurship and enjoying the journey.
Video Transcript
I'm Mark Cuban. Let's answer some questions from the internet. This is Mogul Support.
At Young OnTrap Hub, what will be your best advice to those who are thinking of leaving their
full-time jobs to become a full-time entrepreneur? Save your money first. Don't just leave unless
you know what the hell you're doing. We hear all these stories about all these people who quit
their job, started a company, and made all this money. What you don't hear are the stories of
the people who quit their job, started a company, and failed miserably, and are now working at a
job they hate before you quit, be prepared, know what you're doing, save your money,
have at least six months to live off if you can, and then maybe you're ready to start
your business.
At Alan Bramley, question, do billionaires create jobs?
The answer is no.
Entrepreneurs create jobs.
I'm an entrepreneur and I do my best to create jobs.
But the reality is, in order to become a billionaire, the one thing you have to have is luck.
Any billionaire who tells you they can just do it again?
No.
You have to be lucky.
Maybe you have a rich parent.
Question I get asked a lot is should billionaires
pay more in taxes?
Fuck yeah, we should pay more in taxes.
I would not be in this position without this country.
Because nothing happens, that's great,
whether it's healthcare, teachers, roads, you name it
without people paying their taxes.
It may be painful when you write that big check,
but just think about how you got there.
One of the most patriotic things that you can do when you're wealthy is pay your mother fucking taxes.
At JCB-AYC, you have six months to make as much money as possible.
All you have to start with is a phone and $500 in cash. What are you doing?
JCB-AYC, that is the best question I have ever been asked in my entire adult life.
I am really, really, really good at sales.
I'm gonna find a sales job because I already know that if I'm on to my last
$500 and all I have is a phone, I am going to get that job and I'm gonna learn
more about that industry than anybody on the planet. And I'm gonna set a
commission as high as I possibly can and three months in when I've
demonstrated that I am the best salesperson in the history of that company. I'm
gonna walk into my boss's office and I'm gonna tell him or her. You're either
to start my own business selling this stuff,
that is exactly what I would do.
Everything always goes back to sales no matter what.
At and J and I just score one.
If you buy shares of a sports team,
is it a gamble or an investment?
It's a gamble because you're a minority shareholder,
you have no rights.
At my 2574 8592X question,
is the customer always right?
No, the customer is rarely right.
That doesn't mean you don't have to keep them happy.
