“Always remember that no matter how many times you get shot down, you will get smarter, better and you only have to be right once to be successful,” says Cuban.
“I’m always afraid of failing,” says Cuban. “It’s great motivation to work harder.”
Despite being a billionaire by the time he had reached his early 40s, Cuban’s path to success was fraught with difficulties. “I worked jobs I didn’t like,” Cuban recalls. “I worked jobs I loved, but had no chance of being a career. I worked jobs that barely paid the rent. I had so many jobs my parents wondered if I would be stable.” From his futile garbage bag business to his failed powdered milk venture to being fired from his first real job, Cuban had experienced so much disappointment in his early years that even he was doubtful as to whether he would find success in any career. He was also cut from his high school basketball team and had numerous credit cards cut up in front of his face. “In reality, I had as much doubt as confidence,” he says. “I was just hoping the confidence would win over the doubt and it would all work out for the best.”
Cuban never gave up on his dream of running his own business. He continued to work towards his goal and knew that it would only take one successful attempt to make up for all his previous failed attempts. “Rejection has only been a distraction, not a roadblock,” says Cuban. “‘Every no gets me closer to a yes,’ was the saying I used to use.”
Instead of letting his failures get the better of him, Cuban took each as a learning opportunity. “I'm the type that thinks if you don't learn from history, you're doomed to repeat it,” he says. “With every effort, I learned a lot. With every mistake and failure, not only mine, but of those around me, I learned what not to do.” He examined the successes and failures of those whom he did business with as well, taking lessons from wherever he could.
“I had more than a healthy dose of fear, and an unlimited amount of hope, and more importantly, no limit on time and effort.” Cuban didn’t care how many times his ventures got botched. He had faith that once he perfected his strategy, nobody would remember any of his past disappointments; they would only know his successes. “It doesn’t matter how many times you fail,” says Cuban. “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.”
Cuban understood that the life of an entrepreneur was a risky one, full of risks and uncertainty, but it was a life he took on both willingly and gladly. “All that matters in business is that you get it right once,” says Cuban. “Then everyone can tell you how lucky you are.”
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