To Make More Money, Follow These Lessons From Mark Cuban

Matt Lillywhite

Implement these strategies if you want to improve your finances.

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Image by Gage Skidmore from Peoria, AZ, United States of America — Mark Cuban, CC BY-SA 2.0, https://commons.wikimedia.org/w/index.php?curid=77492867

I used to be terrible with money. I’d often spend way more than I earned, and then get annoyed whenever my checking account got stuck in overdraft for several weeks.

The truth is that I had no financial principles guiding me. I didn’t know how to make, save, or invest money. So instead of being smart with my income, I often went on a shopping spree and purchased loads of useless items that wouldn’t benefit my life.

This cycle kept on repeating. I was frequently kept awake by not having enough money to pay for rent and groceries etc. However, I didn’t do anything to improve my circumstances or create a better life.

Deep down, I knew that something had to change. So one evening, I decided that it would be a good idea to study some of the world’s most successful entrepreneurs.

Why? Because I realized that to improve my life, I first needed to adjust my mindset. So I began to adopt the financial principles of successful people and implement them into my own life.

One quote from Mark Cuban’s book, “how to win at the sport of business,”stood out from the rest. It made me think differently so I could begin the process of changing my financial future for the better. He wrote:

“The best way to predict the future is to invent it.”

From this, I learned that the only way to change your life is by taking actions that get you one step closer towards your desired destination. So if you want to build massive wealth and improve your finances, here’s what you need to do.

Set Incredibly Ambitious Targets.

Until you step out of your comfort zone, you’re never going to know what you’re truly capable of achieving. So if you want to improve every aspect of your financial future for the better, you first need to expand the boundaries of what you think is possible.

I’ll give you an example. I grew up on the poverty line in the UK. My single mom raised myself and my little brother and often spoke of how challenging it was to find a well-paying job.

As you can imagine, I didn’t have a positive mindset when it came to money. I thought it was extremely hard to be wealthy, and that my chances of achieving any kind of financial success were minimal.

But when I started paying attention to the habits of extremely rich people, my entire way of thinking about money quickly changed for the better.Sure, it might sound a little cliche. But it’s true.

So I decided to set myself an incredibly ambitious target of earning $50,000 per year. I implemented a strong work ethic and surpassed it a lot faster than I ever thought possible. Then, I set a goal of $100k, and my newly-found skills and mindset enabled me to achieve that pretty quickly.

I’ve learned that you cannot control the state of the economy, or anything else that makes creating wealth much easier. However, you can always control your level of ambition, work ethic, and what you do each day to get one step closer towards achieving your dreams. Mark Cuban said it best:

“In sports, the only thing a player can truly control is effort. The same applies to business. The only thing any entrepreneur, salesperson, or anyone in any position can control is their effort.”

Be Willing To Learn From Your Mistakes.

Everyone makes mistakes. But if you don’t learn from the past, it’s very difficult to adapt your behavior to create a better financial future.

For example, I used to buy loads of new clothes to make myself look good in the eyes of other people. But at the end of the month, I found myself in a tough position, with very little money left over to pay for groceries.

Maybe you’re like my past self. Perhaps you’re trying to live a lifestyle that you’re unable to sustainably afford. Don’t judge yourself, Instead, recognize where you screwed up and accept that you haven’t always made the best financial decisions. Then, do whatever it takes to ensure you don’t make the same mistakes again. Like Mark Cuban once said:

“It doesn’t matter how many times you fail. It doesn’t matter how many times you almost get it right. No one is going to know or care about your failures, and neither should you. All you have to do is learn from them and those around you. Because all that matters in business is that you get it right once.Then everyone can tell you how lucky you are.”

Like you, I want to stop worrying about money and live an incredibly happy life. So when I started setting ambitious targets and learning from my mistakes, every aspect of my finances quickly improved.

Obviously, you’re not going to make a million dollars overnight. That’s unrealistic. But once you take daily steps towards improving your finances, the power of compound interest will create a much better life over time.

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