Mark Cuban, a prominent billionaire and entrepreneur, recently gave some candid advice to his TikTok viewers. “When you see someone telling you how to make money on social media, they are lying,” Cuban declared in the article. August 2023 Video. He elaborates on this topic by sharing what he calls “the secret that every successful person knows” and resists the temptation of seeming to be able to make quick money online. It set off an alarm.
Mr. Cuban emphasized the value of applying business strategies personally rather than purchasing them from others. “When you have a great idea and a way to make a lot of money, the last thing you want to do is sell.” [it] to someone else. Use it for yourself,” he advised.
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He also warned against business consultants who have entered social media platforms promising to help build various business models. “When someone is selling their idea to you, and they're also selling it to other people, do you know what they're doing other than lining their own pockets? They're creating competition for you. “We're creating it,” Cuban explained.
Cuban's candid and valuable advice is, “You know what they call people who come into a business where you already know there are countless people doing the exact same thing as you? I'll call you a fool. Don't do that.'' Don't send money online to someone whose only job is to tell you how to make you rich. ”
Unlike the false claims you encounter on social media, a professional financial advisor won't make false promises of sudden wealth, but instead will provide you with a personalized, proven experience tailored to your financial goals and risk tolerance. Provides a proven investment strategy.
While Cuban emphasizes that jumping on the bandwagon won't make you rich, he provides an update on how you can legally increase your wealth and improve your finances.
trend: Can you guess how many Americans have successfully retired with $1 million saved? This percentage may shock you.
In another TikTok, he highlighted cash as the word of the day and discussed the two main means of increasing it. The first option is to cut back on everyday expenses, such as not drinking a latte, and instead park your funds in a money market account to earn interest.
The second approach to increasing your income, Cuban emphasized, is to excel at your job. “You have to be good at something. It takes time to be good at something. So in your job, whatever it is, be great at that job. Because if you're great, 'Because people recognize your greatness and want to pay you more,''' he explained, advocating mastery and excellence as the basis for economic growth.
Not everyone becomes an entrepreneur, and that's okay. There are multiple paths to financial success and the potential to become a millionaire. Strategies include strict budgeting and cutting unnecessary expenses, paying off high-interest debt, and investing early in vehicles such as low-cost index funds or your own 401(k). .
Saving a significant portion of your income and investing in yourself by improving your skills and knowledge will greatly contribute to your financial growth. Surrounding yourself with people who share your financial goals can also provide motivation and insight. These methods emphasize the importance of discipline, long-term planning, and continuous self-improvement.
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*This information is not financial advice. To make an informed decision, we recommend individual guidance from a financial advisor.
Jeannine Mancini has been writing about personal finance and investing for the past 13 years for a variety of publications including Zacks, The Nest, and eHow. She is not a licensed financial advisor and the content herein is for informational purposes only and does not and does not constitute investment advice or investment services. She Mancini believes that the information contained herein is reliable and obtained from reliable sources, but makes no representations, express or implied, as to the accuracy or completeness of the information; There are no guarantees or promises.
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This article exposes Mark Cuban's promise to get rich online – “When you see someone on social media telling you how to make money, they're lying” originally published on Benzinga This was posted on .com.
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