The No. 1 Business Lesson Fellow ‘Shark Tank’ Star Learned Because of Mark Cuban
Written by
Sean Bryant
Edited by
Cory Dudak
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Mark Cuban is a well-known businessman and former investor on the reality series “Shark Tank.” Over the past few decades, Cuban has amassed a net worth of $5.7 billion, making him a great individual from whom to take business lessons.
In fact, Cuban gave an important business lesson to fellow “Shark” Robert Herjavec — define and fall back on your purpose. Let’s explore this business lesson in more detail, helping you apply it to your life.
Define and Fall Back on Your Purpose
In a recent Instagram post, Herjavec told the story of the time he and Cuban were talking to a group of children when one of the kids asked, “Why do you work so hard?” Although joking at first, Robert replied, “So I can buy a bigger jet than Mark.” Unbeknownst to Herjavec, Cuban actually had three bigger jets and replied jokingly, “Which one?”
After reflecting on his answer, Herjavec realized he didn’t care about what Cuban or anyone else had, nor should he. He didn’t start his business simply to get more wealthy, but to build something great. At Herjavec’s company, The Herjavec Group, he has a mission to develop and support local communities.
The reason he worked so hard wasn’t to have a bigger jet than Cuban; it was to build wealth in order to help those around him. By defining his purpose, Herjavec is always motivated to continue closing deals and building wealth. Even during hard times, Herjavec is reminded of his purpose, giving him the ability to keep pushing forward.
The Takeaway
If you’re on a journey to become wealthy like Cuban, that shouldn’t be the motivator. Instead, you need to define your purpose. Why do you want to become wealthy? Is it to help your family members or to buy your dream car? Defining your purpose motivates you to achieve your goals, even when facing unexpected challenges.
Take the time to write out your purpose and put it somewhere you’ll be constantly reminded. Building an empire isn’t easy. However, with a defined purpose to fall back on, you’ll never lose motivation.
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