"There are no shortcuts" - When Shark Tank mentor Mark Cuban shared his advice on getting rich

In August 2011, billionaire entrepreneur and Shark Tank investor Mark Cuban wrote a blog post titled "How to Get Rich" on his website, Blog Maverick. In it, he shared simple advice on saving money, avoiding scams, and preparing for opportunities. He believed that "there are no shortcuts" to wealth and warned against get-rich-quick schemes.

"There are no shortcuts. NONE. With all of this craziness in the stock and financial markets, there will be scams popping up left and right. The less money you have, the more likely someone will come at you with some scheme," he wrote.

He added,

"Always remember this. If a deal is a great deal, they aren’t going to share it with you."

Instead, he advised people to focus on saving, learning, and being ready when opportunities arise. His advice remains useful for anyone looking to build long-term financial security.

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Smart money habits from the Shark Tank mentor

Shark Tank star Mark Cuban believes that getting rich starts with smart money habits. He warned against financial scams and risky investments, stating,

"I don’t broadcast my great deals. I keep them all to myself. The 2nd thing to remember is that if the person selling the deal was so smart, they would be rich beyond rich rather than trolling the streets looking to turn you into a s**ker."

Cuban added that people should be skeptical of financial promises that seem too good to be true. His advice suggested saving as much money as possible. He encouraged skipping small expenses, like daily coffee or eating out, and putting that money into savings.

"If you use a credit card, you don’t want to be rich. The first step to getting rich, requires discipline." he said.

Cuban recommended saving money in six-month certificate of deposits (CDs) to have cash ready for opportunities.

He believed that financial success comes from discipline and patience, not quick schemes. He wrote that those who have put their money in CDs "sleep well at night" and definitely have more money today than they did yesterday.

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Gaining knowledge and preparing for opportunities

Shark Tank mentor Mark Cuban also stressed the importance of learning. He advised people to find a job in an industry they enjoy and use it as a way to gain knowledge.

"You have to start learning the business somewhere. Instead of paying to go to school somewhere, you are getting paid to learn. It may not be the perfect job, but there is no perfect path to getting rich," he said.

Shark Tank star encouraged continuous learning by reading, attending industry events, and talking to experts. He explained that industries go through cycles of ups and downs. The key to success, he said, is being ready to act when opportunities arise.

"The nature of our country’s business infrastructure is that it is destined to be boom and bust. Booms are when the smart people sell. Busts are when rich people started on their path to wealth," he wrote.

Those who save money and understand their industry can take advantage of opportunities when others struggle. Cuban’s main message was simple: wealth comes from saving, learning, and being patient. His advice, though shared in 2011, remains relevant today for anyone looking to build long-term financial success.

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Fans can watch Mark Cuban in the latest season of Shark Tank which airs every Friday on ABC.