These days, most people are looking for the next best option to make big bucks. Social media influencers are now putting up posts encouraging their followers and fans about the best way to get rich. Some of these influencers actually have exciting ideas that they gladly share to benefit their followers.
However, billionaire entrepreneur Mark Cuban recently released a TikTok video calling out these influencers. According to him, these influencers are lying because extremely successful people don’t share their secrets.
Tip of the Day
Mark Cuban is well-known on TikTok for the short clips he posts that he calls “Tip of the Day.” In these 60 or 90-second videos, Cuban gives financial and business advice.
In one of his “Tip of the Day” videos, Cuban exposed influencers. In the now-viral video, Cuban says, “When you see somebody on social media, Cuban exposes influencers in telling you how they’re going to mg.”
Cuban’s Video Went Viral
Furthermore, the successful entrepreneur also said, “I’m going to give you a secret that all successful people know: When you have a great idea, when you have a way to make lots of money, the number one thing you’re not going to do is sell that idea, sell that service, sell that approach to anybody else.”
Cuban also explains that very successful people will not sell the idea that’s making them rich. He added that one serious issue with buying an idea from an influencer online is that that same idea is available to everyone online.
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Too Many People, One Business Idea
As the video continues, Mark Cuban says, “Let me just give you some common sense information here… they’re creating competition for you. Now there [are] 10, 20, 30, 100 people doing the exact same thing as you.”
So, according to Cuban, these financial or business influencers are lying to their fans. He also said that even if they shared a great idea, it would be too common for the average person to make the most of it.
Cuban Discouraged People From Believing Everything Influencers Say
Cuban then addressed those people who follow the influencers’ ideas. He said, “And you know what they call someone who goes into business where there’s [an] unlimited number of people that you already know are doing the exact same thing as you? They call them stupid. Don’t do it.”
“Do not send your money to anybody online who’s just telling you they’re going to make you rich. If they were really that good, they would be making themselves rich and not sharing it,” he added.
Save Your Money. Figure It Out. Do It Right
At the end of his viral “Tip of the Day” clip, Cuban had some advice for people looking to be successful. He said, “Save your money. Figure it out. Do it right.” However, many people still wonder what it means to do it right.
Thankfully, Cuban didn’t just leave people hanging. He posted a separate “Tip of the Day” video on TikTok to advise people trying to be successful in business and become wealthy.
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The Solution
In the follow-up video, Cuban was pretty straightforward. He said, “There are only two ways to get more cash in your financial life. Number one: Save… the second way… you have to be good at something.”
The businessman had more to say. He pointed out examples of how average people can save and, be great at something and become as rich as they want.
Budgeting
Cuban also extensively discussed budgeting in the video. He said, “You don’t need that extra latte, that extra streaming service, going to that fancy dinner.”
He also explained that saving a couple of hundred dollars might not seem like a big deal at first. However, intelligent business-minded people can use the saved money to invest in a business.
Start Small, Grow Big
However, many Americans don’t believe their funds are enough to make significant investments. Nonetheless, Cuban said that anyone could invest. Even the most minor monthly investment will grow over the years and provide profit.
He said, “You want to put [savings] in a money market account earning 5, maybe more percent, and watch that sucker grow.”
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401k Programs
There are so many ways to make money. One of the best ways is to make the most of a 401k program. This allows you to save money and also build wealth over time.
This may seem like baby steps to many people. Also, it could be challenging for some people to set aside some money every month, especially when they don’t earn so much. According to Cuban, it is better to be broke for some time for a big payout in the future.
Dedication Pays Off
Furthermore, Cuban encouraged people to commit and dedicate themselves to whatever they do. According to him, people can master skills that will earn them money over time.
He said, “Being good at something takes time. So in your job, whatever it is that you do, be great at that job. Because when you’re great, people recognize your greatness, and they want to pay you more.”
Get Rich Schemes Can Make You Poor
There are now more “get rich quick” schemes across the world because people are desperate to be rich. However, business experts like Mark Cuban continue to warn people about the dangers of falling for such schemes.
Instead, the best advice or tip is for people to work hard, save, and be dedicated to their job or business.
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