How to Get Rich, Cuban Style

by Kevin Singarayar on October 5, 2008

in Business Strategy

You’ll want to read this.  Scratch that.  You’ll need to read Mark Cuban’s lat­est blog post if get­ting rich is on your To-Do list.  It doesn’t get more fac­tual than this.

For the ben­e­fit of those who can’t afford the time, let me help by sum­ming his post up as best I can:

  1. There are no short­cuts to get­ting rich.
  2. Beware of deals being offered to you that sound too good to be true.
  3. Save your money.  Every penny you can.  Put your sav­ings in 6 months CDs in the bank.
  4. Cut up your credit cards.  If you use a credit card, you don’t want to be rich.
  5. Get­ting rich requires discipline.
  6. Be a smart shop­per.  The great­est rate of return you will earn is on your own per­sonal spending.
  7. Have cash available.
  8. Invest in your­self by becom­ing knowl­edge­able about a busi­ness you’re pas­sion­ate about.  Or get a job in the busi­ness that sup­ports it.
  9. Read every­thing there is to read about the business.
  10. Booms are when smart peo­ple sell.  Busts are when rich peo­ple started on their path to wealth.

And if I could just add an eleventh point:

11.  If you can’t afford the time to read Mark Cuban’s post, you really don’t want to be rich.

Word.

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