Whatever industry you pick if you outwork everybody. If you try to be a little smarter than everybody, if you try to be a better salesperson than everybody. If you try to be better prepared than everybody you’ve got your best chance because if you don’t do it and somebody else. Do I have the same work like someone’s trying to take it all away from you work actually work like someone’s spending 24 hours working 24 hours to take it all away from you. That’s kind of the way I look at it keys to success etc. What would you say is the number one reason: why people fail not necessarily? Why do they make it? The complete opposite right: lack of brains, lack of effort, lack of brains, lack of effort. They just don’t do the work.
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They don’t learn when you walk in the room when you start a business. You start to talk about somebody you’re never in a vacuum with no competition. Unless you’re just extremely lucky and if there’s going to be competition that means somebody else knows your business as well as you do when you get started. If you walk into a competitive environment. They still know more about the business than you do and more about your customers you’re going to lose. But, most people don’t consider that they don’t do the work they don’t learn more about their industry. They don’t even know about their business. I mean and, so, you’ve got to put in the effort to know more about your industry than anybody else.
That’s the brains part and that’s the effort part as well because look if you’re competing with me you. You better know what you’re doing. Otherwise, I’m gonna kick your ass and you’re not gonna outwork me. So, the combination is usually what kills businesses early on more than anything. There’s a proven formula that if a brand rookie guy he’s got a lot of ambition gone out of this but not a lot of knowledge. What do you think, if he follows a formula he’s guaranteed to make it as an entrepreneur. You don’t believe there’s a guarantee to make it, no because who knows who you’re going to be competing with. So, if you put two two people both following the same formula both in the same industry right which one wins maybe they both can win and both be successful. But, so I don’t I don’t think there’s a default, default template for success. But, I think there’s things that you can do to put yourself in the best position to succeed. So, I talk about stuff in the book. I talk about the one thing in business you can control: his effort going out there and sales curing all. So, I think and I agree with your point that there are things that if you do them.
I think they’re I knew I was wired to be excited about business, how or why I don’t know but there’s certain guys. They have the genetics to jump out of the gym. certain guys that when they golf, they have the muscle memory and the discipline to drink whiskey may not be the most talented in the NBA. But his discipline and his focus to do what’s necessary to be successful. He’s willing to do and combine it with being seven feet tall and being skilled makes him an amazing basketball player. So, it’s understanding what your skill set is, finding the right place to use those skills and then going for it will make you 250 grand. It depends if you pick the right industry, but whatever industry you pick. If you outwork everybody if you try to be a little smarter than everybody. If you try to be a better salesperson than everybody, if you try to be better prepared than everybody you’ve got your best chance because if you don’t do it and somebody else does.
I have the same work like someone’s trying to take it all away from you work actually work like someone’s spending 24 hours working 24 hours to take it all away from you and and that’s kind of the way I look at it you could within a 5 10 million minute interview say this dude’s not going to make it as an entrepreneur yeah I mean I can I can typically tell right I can tell but by their passion I can tell by their focus I can tell by their preparation there’s a whole realm of things in any business here here’s here’s the business you’re in and here’s a thousand things that influence whether or not you’re going to be successful and really to me by through my experience in businesses I can put myself in his position and say okay here are 900 of the thousand things he has to be aware of and then go through and ask and by how many of those or her issues
They’ve been able to address already that kind of gives me a sense of how hard they’re willing to work. I can tell by the questions they ask me. So, all I have to do is say okay what do you want to know and when they start saying what should I do? But people like to say the only stupid questions: are the one you don’t ask and that’s not right. Because the questions you ask everybody tell me tell whoever more about you than anything else you do because in particular tells me about your preparation. If you ask me questions about just basic things that you should have known. You should have down to a science that’s going to disqualify you almost more than anything for every one of my businesses. I said what would I do to kick my own ass you right. So, whatever business you have there’s somebody trying to put you out of business.
There’s somebody trying to take a bite out of your business. It’s better for you to figure out how they’re going to do it rather than they do it. That’s being paranoid and so you have to be paranoid. You have to anticipate other people’s next moves and moves and you can’t ever downplay the competition. I was told I was at a business plan competition this morning for a college. They were kind of being dismissive of the competition and so you can’t ever do that. They’re out there trying to take you down and they’re not just going to sit still and if you’re really really good you’re going to inspire them to work even harder, faster, better. So, you have to be very self-aware of what you’re good at and what other people are good at and a healthy dose of paranoia makes a big deal. I mean it’s very helpful, it just depends if you’ve got to know your own skill set right. You’ve got to know how that fits within your company’s life cycle. Some companies are slow grinds. You just have to understand that.
But, the key is looking for the low-hanging fruit. What customers are willing to write you a check or commit to it. So, that they’re willing to integrate it into their daily lives or integrate it into their daily business. So, getting a commitment either through time or revenue is typically what I look for. So, if I can get a commitment. Then, I’m going to be able to learn. I’m going to see how they use it and whether they sustain usage. Then, once I get the next one. Hopefully, it came a little bit faster than the first one then I can ask for referrals and then the next one then the next one. I just tried to ramp it up, when I bought the mavs we had no season ticket holder base.
So, literally, it was a matter of just putting a list of former season ticket holders and a white page back. Then on my desk next to my phone and making phone calls to you because if I’m not going to do it. How can I expect someone else to do it right? So, just get on the phone hey this is Mark Cuban. I’m the new owner of the Dallas Mavericks. I’d like to invite you. It’s not though. This is my business you can’t get regular sales guys or something to make those calls. Once they get to a quarter you’re a guy that’s a billionaire you’re making those but that’s all and that’s fine and good right because everybody’s got their own goals right. But, still I didn’t want anybody at the mavs to be able to say. Well, he’s not willing to do the work right.
This article is a transcription of a video made by Jamie Tree
Original video: https://youtu.be/m2Spz7iuFmQ
