All 6 of Shark Tank's Stars share their secrets to success and becoming a millionaire. Read on to see the advice from Mark Cuban, Kevin O'leary, Daymond John, Robert Herjavec, Lori Greiner and Barbara Corcoran.
MARK CUBAN: WORK HARD AND DO WHATEVER IT TAKES.
"There’s being wealthy and doing well and having your dreams come true. And there’s being in a situation where things escalate. Whether it’s me or Chris Sacca, the stock market had gone nuts. I was rich and I was happy, but I don’t know that I’d have multiple billions of dollars.
"To become a millionaire, you’ve really got to find something that you love to do because it’s going to take so much work that you can’t just say, ‘OK, this is the one industry I can make a lot of money in.’ Or, and I get this all the time, which is crazy: ‘I want to be rich. What kind of company should I start?’ You can’t do that. It doesn’t work like that.
"You’ve got to be good at something and not only be good at it, but you’ve got to love it, and then you’re willing to work and do whatever it takes. Then, if you’re fortunate, that turns into something that creates wealth for you.
"I found out I loved computers and I taught myself how to program. I had no problem working 20 straight hours learning something or coding. That led to building and selling my first company. But it wasn’t like, ‘How am I going to get rich? Let me just start that company in that industry’ because there’s going to be somebody who’s going to know that business better than you do and is going to kick your ass."
BARBARA CORCORAN: BE COMPETITIVE AND PIGHEADED.
"If you want to be really rich, you better decide early to start a business of your own. It's only when you put yourself in charge that you have a shot at becoming rich.
Every business is born out of an individual's intense passion and a real need to succeed, so you'll need enough passion to get started, but also enough to get through the intense 12-hour days when the chips are down and everything and everyone seems against you. But, if you're competitive and pigheaded enough to get over the failures without wasting time feeling sorry for yourself, and if you can inspire enough good people to join you, you can pretty much become as rich as you want."
LORI GREINER: DO WHAT YOU LOVE AND DO IT WELL.
"Find something you love to do, that you are passionate about and also good at. Don't have the goal to be a millionaire. Have the goal to be successful and plan to give it all you've got. Critically important, make sure you are hands-on and the one driving things because no one will care about your business like you do. Be involved in all details and be aggressive at attaining your goals, and know how to pivot when necessary."
KEVIN O’LEARY: WORK FOR YOURSELF AND WORK LIKE A DOG.
"First of all, you’re not going to become a millionaire working for someone else. That’s a highly unlikely outcome, unless it’s an entrepreneurial situation where you’re getting some equity in the company. If you can afford to take a risk and you’re young enough, either start your own company or be involved with one where you’re racking up equity. There’s no other path to becoming a millionaire. No employer is going to let you make a million dollars off of their business. They don’t have to.
"Realize that if you want that path, that journey to becoming a millionaire, you have to sacrifice a lot and work like a dog. I did. There was no balance in my life. I wasn’t even around when my kids were young. But today, I can afford to gather them with me every weekend anywhere on Earth I want to."
ROBERT HERJAVEC: FIND A NEED AND SOLVE A PROBLEM.
"You don’t become a millionaire because you’re singularly focused on making a lot of money. You’ve got to go back to the basics. Find a need, solve a problem and, most importantly, make sure you have a customer. If those things are in place, and you have the ability to scale, now we’re talking. It’s going to be incredibly hard work. Harder than you’ve ever imagined, but it’s the best time in America to start a business. The time is now!"
DAYMOND JOHN: FIND YOUR PASSION AND PURSUE WHAT YOU LOVE.
"Don’t think about the money. Go out there and do something that you really, really love, even if it’s not something you went to school for. Find out what your passion is. I can’t guarantee that you’re ever going to make a dollar doing anything, but do something that you absolutely love and you’re going to look back over the years and say that you enjoyed life."
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