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“FIND Your COMPETITIVE EDGE!” | Mark Cuban (@mcuban) | Top 10 Rules


I’m not mr. mentor I’m not the one who
says let’s sit down tell me how it’s
going I’m gonna tell you exactly how I
am get off your ass and get out there
and sell something you don’t have to
look the part I mean I certainly never
have right you don’t have to sound the
part you just have to find a way to put
your customers in a position to succeed
and good things happen if you don’t know
more about your business your industry
your company your customer then
everybody else in the world you’re lying
to yourself that you’re you don’t know
she need motivation watch the top ten
with believe nation what’s up at seven
my one word is believe and I believe in
you I believe you have Michael Jordan
level talent at something and I want you
to find it embrace it and make a
difference using it so let’s get your
motivation to attend and get you
believing in you grab a snack and chew
in today’s lessons from a man who went
from growing up in a working-class
family to selling garbage bags
door-to-door to becoming a bartender to
eventually becoming a billionaire and
the owner of the MBA Dallas Mavericks
he’s Mark Cuban and here is my take on
rule number one pay off your credit
cards if you want to be rich the first
thing you should do is pay off your
credit cards if you have a payday loan
have a loan pay it off because that’s
the boat anchor that’s gonna hold you
back there mercilessly no mercy right
there’s no upside to look I get I get
how difficult it is I mean I’ve been
there where I’ve come home and the
lights are out and I’ve had to go down
to the utility company and explain why
this new account that I just opened up
and this check is going to clear even
though the last five haven’t right or
when you know you look at your phone and
it’s a bill collector and look it’s not
always easy but at the same time going
and try you’ve got it
there’s there’s just no way to get over
that hump by taking a payday loan or a
high interest rate loan or a prepaid
credit card with a high interest rate
it’s really tempting and you think to
yourself well if I just do this I know I
can work my way through to pay it off
and get to the next level and as someone
who’s had their Sears there Amex their
visa their MasterCard all cut up in
front of them right it’s just it’s it’s
the biggest boat anchor that you could
ever ask for when it comes to your life
or starting a business number two be
nice nice is way undervalued you know
particularly in this day and age you
know if you turn on the news everything
seems like it’s going to get blown up
but being nice just makes life so much
easier and look I learned the hard way I
had to have my partner Todd came to me
one day and he goes I like to curse he
goes I don’t care about cursing but you
curse too much not everybody is as
accepting as cursing as you are calm the
and I took at the heart not so much the
cursing part but but I just I it became
apparent to me that the nicer I got the
more effective people around me got the
more productive they got the more sales
we had I was undervaluing nice you know
I started my my first company after I
got fired from a job and I was 24 just
turned 24 my first real company if you
will and I was always go go go go go all
consumed right live it eat it sleep it
breathe it and I knew people couldn’t
keep up or work as hard as many hours as
me but I wanted them to and we were
successful and we didn’t have much
turnover but I could have done a better
job if I were nicer and broadcast calm I
got a little bit nicer right
that’s things but then once I got to the
Mavs and and some of these other
companies and Todd reminded me you know
and really told me you know just nice
nice works and so when you find yourself
going to work when you’re finding
yourself dealing with customers when
you’re finding yourself making decisions
we all get that odd jatai right that
feeling in our stomach that tenseness
that stress at various points of times
that we all have to go through but
sometimes you just need to calm the down
right take a deep breath and be nice
because you’ll find out that people will
do much more but if you reduce the
stress to people and you’re nice you’re
gonna have such a huge advantage no
matter what your technology is no matter
how it compares even if it’s a download
for an app people will still have to
deal with you your culture will come
through being nice being being
supportive reducing stress that all
comes through even in an app rule number
three be prepared
third is be prepared people that oh
you’re such a risk-taker don’t take
risks right when you walk into the room
if you don’t know more about your
business your industry your company your
customer then everybody else in the
world
you’re lying to yourself that you’re you
don’t know right because someone like me
is gonna just kick your seriously right
if you walk in and there’s somebody else
who knows your business or your industry
better than you why would they buy from
you the one thing in business you can
control your efforts your effort
rule number four grind I’m not mr.
mentor I’m not the one who says let’s
sit down tell me how it’s going huh I’m
gonna tell you exactly how I am get off
your ass and get out there and sell
something that’s right I mean I’ve never
been the okay I need a mentor you know a
lot of people look for mentors thinking
they’re gonna tell me the shortcut ah
mark will you be my mentor you know the
way and they think I’m gonna go convey
some magics here’s the dust go go go it
doesn’t work that way I still grind
I love the grind if you’re competing on
one of my businesses I’m gonna kick your
ass cuz I’m gonna I’ll grind you right
that’s what being an entrepreneur
they’re an entrepreneur is you’ve got to
get out there and do the work so when it
comes to how do you learn right because
that’s the question how do I learn this
stuff and everybody everybody has got to
go through that process right I read our
I’m in a tech business I’m a media
business the entertainment business I’ve
got to try to prepare myself for all the
Shark Tank businesses I read three hours
plus a day right what everybody else is
getting a suntan or even when I’m
getting a suntan I’ve got I’m online or
I’ve got books I’m reading all I can
rule number five put your customers in a
position to succeed you have to execute
everybody’s got ideas you know that’s
that’s the easy part
but customer what sale customer
customer happy yes or no sale customer
customer happy yes or no right sale
because everything just feeds that right
everything else is noise and if you and
part of that though so there is a part
beat of that right because one tenant of
good business is always listened to your
customers right you always want to
listen but you don’t always want to do
what they tell you right because the
customers job is to just is to make
their company successful right and when
they tell you what they need and what
they tell you what they want they’re
typically thinking about the right here
and now they’re not thinking about your
potential competitors they’re not take
thinking about the future of your
organization so you have to also
innovate you have to differentiate so
you have to have be over out here
innovating differentiating understanding
you know how you fit within your
industry and how you can get ahead but
then you have to turn that into sales
customers customer happiness and so if
you can execute on those things things
typically work out well it’s not what my
office is pretty my office always looks
like crap right I mean our offices now
we we have these very desks everywhere
I’m not it you know you don’t have to
look the part I mean I certainly never
have right you don’t have to sound the
part you just have to find a way to put
your customers in a position to succeed
and good things happen rule number six
find your path take remember back to you
know when you were kind of my age uh-huh
did you think you would have all of this
oh yeah absolutely I yeah no I had no
idea I grew up in Pittsburgh my dad did
upholstery on cars so if you got a rip
in your car see you took it to him my
mom had odd jobs from selling real
estate to making baskets and you know I
was just a normal kid but I was always
into business from as long as I could
remember I was selling something or
working on something trying to make
money and I just it just got me excited
to be a business person and it just took
off from there
rule number seven find a competitive
edge I was never the one to like chase
the sector oh this is hot because you
have to ask yourself who are you
competing with and whatever you do you
have to ask you
what’s your inch right what is the one
thing that gives you a competitive edge
if you don’t have an answer you can’t
start that company you’re gonna lose
right I said it before if you’re trying
to compete with me you better though
know a whole lot more than I do about
whatever business we’re in because
otherwise I’m gonna kick your ass right
so you have to ask yourself what is your
competitive advantage and with that kick
competitive advantage what’s the best
way for me to get customers who are
willing to write me a check my one of my
skill sets has always been I’ve been
able to walk into any type of business
and understand their company you know
understand how they make money I
understand how they compete so I can
walk into a shoe store I can walk into a
hospital or whatever and say all right
here’s my technology here’s how it gives
you an advantage and I try to do the
same thing on Shark Tank you’ll hear us
say it all the time what is your
competitive advantage just saying it’s
my passion you ever walk into 7-eleven
and say wow I’m shopping here at
7-eleven because they’re really
passionate no right and when when you go
and you make your think about your own
buying decisions what makes you decide
to buy now you might want to support
veteran owned business so I always when
it’s a toss-up yes right but at some
point you have to grow beyond the
community and you have to be able to say
like you can walk into any situation and
know without any doubt in your mind this
is why you are the best product or
service and you are the best company
provide that product or service period
in a story if you can’t do that you have
to ask yourself who is doing it what are
they doing that gives them that edge
what allows them to compete or help
their customers better than you can
because that’s what it’s all about we
all as consumers make buying decisions
and we the people who are buying our
stuff is product or service use the same
thought process for those buying
decisions so always put yourself in your
potential customers shoes what is it
that I have that makes it a no-brainer
for them to buy for me if
it’s I’m nice I’m passionate you’re in
trouble right there’s got to be
something because even if you can get
some customers how are you going to grow
it how are you going to sustain it and
what’s going to keep the next person
from coming in and doing the same thing
because look with success comes
additional challenges the more you
succeed the more people say damn ok
that’s an opportunity I think I can do
that better and so success isn’t look
where I’m at
success is go-go-go-go
right I mean people say wow you’ve done
this I’m still going right to me
business is the ultimate sport and
there’s nobody on the face of the earth
that’s more competitive than I am I’ve
said that to Magic Johnson Michael
Jordan Larry Bird you name it right
any athlete any businessperson it is the
ultimate sport and we’re competing all
the time what is it that gives you an
edge that allows you to compete how do
you sustain that and how do you find
more people that say yes to buy that
that is going to be the key to your
business and how do you sell it rule
number eight always be a student I focus
on things that are AI driven artificial
intelligence driven whether it’s machine
learning deep learning learning neural
networks medical applications but within
ai ai is a buzzword that everybody is
using right now you know every in and to
that point you know we as old guys we go
back and it’s like 1995 we talked about
the internet and I would say to people
back in 1995 look if you don’t
understand the Internet you’re not gonna
be able to do business and now that’s
just blocking the tackling that seems
obvious back then it wasn’t right I
could even take you further back to my
first company you know what we did was a
company called micro solutions and we
did local area networks on wide area
networks and I used to walk into
companies and and
you’re gonna have to hook these pcs
together at some point that’ll make you
more productive more effective you know
give you a competitive advantage and
people are like now I just carry this
floppy from this PC to that PC yeah okay
but today we’re at the same type of
inflection point with artificial
intelligence you don’t have to be an
expert and be able to put together your
own neural network you know you don’t
have to know what weights and biases are
but but you have to have more than just
a cursory understanding just like you
have to know the difference between you
know different types of websites and you
have to understand ecommerce if you’re
in the e-commerce you have to have a
cursory understanding of how apps work
you’re gonna have to have at least if
not more cursory understanding of
artificial intelligence because it will
change everything we do and if the
internet was 10x in terms of change to
business artificial intelligence will be
100x
or more if you go to my house right next
to my bed there’s a book machine
learning for dummies you go into my
bathroom there’s deep neural networks
for dummies right if you go home there’s
a something for dummies in every room of
my house you know I could go two ways I
know but I’m just telling you put the
time I mean I’ve taken you know I can’t
even tell you how many hours now I spent
every week if not daily working like
I’ll go into Amazon AWS and go through
their machine learning tutorials don’t
think to yourself I’m not technical
enough or I’m not gonna get this or I
don’t get into this or it’s too much try
it get as far as you can because it’s
like doing a basic website and a little
bit of HTML just having done that you
feel smarter and you feel a little bit
more confident about this you know I
don’t want to be an alarmist but I’m
trying to scare the hell out of you
because it’s important rule number nine
disrupt industries one of the big
challenges for everybody having a unique
idea and then taking it through the
fruition there’s always hard right it’s
never easy there’s always people are
going to question you and
being able to take that first step and
fight through all the naysayers you know
it it it’s a process but once you start
to get traction whether it’s uber
whoever maybe you know and you’re taking
steps that nobody else has that’s when
you really have to fight and you know
now particularly where we don’t have an
administration that’s particularly tech
literate I think there’s going to be new
challenges and so the companies that are
emerging today maybe some of them are
here at South by Southwest you know
maybe it’s gonna be a little bit more
difficult but still there’s there’s no
less need and it’s no less important you
know it’s as the world changes and I
think it’s going to change more over the
next 10 years technologically than as
the past 30 we’re gonna need people to
disrupt it and make our make the world
better and rule number 10 the last clip
before a very special bonus clip is
create energy so trying to build a team
trying to win games
that’s in this bucket trying to create
the best fan experience that’s a
completely different bucket you know I
don’t want people using Wi-Fi at our
games I don’t want that’s called look
down when you’re I want you know what
makes going to a game unique versus
sitting on the couch is the energy you
feel when you walk into the case study
is the Duke University student section
everybody up jumping for two hours yeah
they’re not they’re not they’re the
target audience for this I’m not doing
they’re not doing it right because
getting away from your device and going
getting out of the house and doing
something unique when you walk into a
Mavs game I want you to feel the energy
right I don’t want you to even think
about your phone I want you to oh shoot
I forgot to check on the babysitter
right oh I forgot to check my email
you know we spend more probably as much
as all the other teams and all
professional sports combined to do
original videos that we put up on the
jumbotron we upgraded our big screen in
the middle of the arena to at the time
it was the largest indoor screen
anywhere in the world just so we could
I’ve got a really special bonus clip
from Mark Cuban on how to reduce the
stress of those around you but before
that I want to know what did you learn
from this video what message did Mark
had that really hits you hard that
you’re going to make some kind of impact
in your life or your business with today
write in the comments below when you
write it down you’re much more likely to
actually take action so let’s see in the
comments thank you guys so much for
watching I believe in you I hope you
continue to believe in yourself and
whatever you’re one where it is much
love
mark how can I be successful you know in
one of your companies if you want to be
successful as an entrepreneur or as an
employee reduce the stress of those
you’ll find like in every company we
bought every organization every unit
whatever you’ll find that there’s people
who think they’re indispensable right
and nine out of ten times they’re the
ones that create the most stress and
they create all that stress and they
think a look of all this stress around
me I must be indispensable because no
one else could deal with all this stress
but what I found is the people that wait
Ryan I haven’t heard from Ryan oh he’s
killing it right I got his report
yeah I’ve been seen his reports he’s
doing well I mean Ryan’s just doing his
thing the people who are doing their
thing and getting results and getting
things done like Shawn Patel is here
he’s one of my shark tank you know
bottle breacher our Riveter I get the
way I work with my shark tank
investments I get a weekly report I
always ask for bad news first
so that I can deal with you because I
expect good news that’s why I invested
in you but these guys that you’re gonna
you’re gonna meet coming up here next
it just gets done right the problems
they have is maybe they’re selling too
much and they run out of inventory and
somebody gets upset and then they fix it
and learn from and anticipate it so
don’t deal with it again but one of the
tip if you’re gonna write something down
write this down if you want to be
successful reduce the stress of those
around you
everybody wants to work front worth work
for buy from partner with people who
reduce their stress levels would you
write like to work with somebody who
increases your stress level no right so
the most important word ever if you had
to think of one word that’s most
important to you or that sums you Apple
that would be like a little beacon pay
believe nation if you want to know what
the most important one word is for Tony
Robbins Gary Vaynerchuk Oprah Winfrey
will.i.am and Howard Schultz I have a
very special secret video for you check
the description for details [Music]
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