"Lack of brains, lack of effort" — When Shark Tank's Mark Cuban claimed hard work and knowledge are non-negotiable for success

Shark Tank investor and entrepreneur, Mark Cuban has consistently emphasized that business success is not a matter of luck but a combination of intelligence and effort. He appeared in an interview with Motiversity on May 12, 2020 and was asked about the primary reason why people fail. Cuban responded:

"Lack of brains, lack of effort... they don't do the work, they don't learn."

Cuban spoke about why knowledge and hard work are not negotiable in business. He said that not working more than competitors is the cause of failure. Mark also explained that he judges entrepreneurs on how prepared they are and the nature of their questions.

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The role of effort and knowledge in achieving business success according to Shark Tank Mark Cuban

The importance of hard work in business

Mark Cuban highlighted that work ethic determines the success of an entrepreneur. He elaborates that effort becomes a determining factor when there is competition.

"If you outwork everybody, if you try to be a little smarter than everybody, if you try to be a better salesperson than everybody, if you try to be better prepared than everybody, you've got your best chance." he said.

The Shark Tank investor implied that a good work ethic must be kept to ensure continued success since others in the business are constantly working to gain an edge. He explained his mindset, saying:

"Work like someone is trying to take it all away from you… work like someone is spending 24 hours, working 24 hours to take it all away from you."

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Evaluating entrepreneurs through their preparation

Mark mentioned that he can assess an entrepreneur’s potential based on their level of preparation. He outlined how he evaluates individuals by examining their focus, passion, and readiness.

"I can tell by their passion, I can tell by their focus, I can tell by their preparation."

Additionally, the Shark Tank investor highlighted the importance of the questions entrepreneurs ask and how well they understand the various factors that influence their business. He stated:

"The questions you ask tell me, tell whoever, more about you than anything else you do. Because in particular, it tells me about your preparation."

According to Cuban, individuals who ask fundamental questions that they should have already researched demonstrate a lack of readiness, which is an indicator of their impending failure.

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Importance of being prepared in business competitions

Mark Cuban also discussed the importance of being vigilant and strategic in a business environment. He explained that one must always anticipate the moves of others and not underestimate the competition. Mark noted that failing to learn about the market, and customers puts entrepreneurs at a disadvantage against those who are better-equipped with that knowledge.

Reflecting on his experience at a business plan competition, he said:

"And so yeah, that's being paranoid and so you have to be paranoid, you have to anticipate other people's next moves. And you can't ever, you know, downplay the competition."

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