Mark Cuban's recent interview shows what truly makes a billionaire

Before you go, we thought you'd like these...
Before you go close icon

5 Things You Didn't Know About Mark Cuban

Every billionaire has an insight into what makes you a billionaire. At least that is what made them billionaires in the first place. Most times such wealth doesn't rest solely on having so much money, sometimes you have to consider other qualities like character and antecedence.

Mark Cuban is a billionaire. Donald Trump is a billionaire. But it seems, these days, the two are having a field day when it comes to what it means to be worth something.

In his recent interview with WABC's "The Bernie and Sid Show," Mark Cuban offered four takeaways on what it takes to be truly a billionaire:

You have to be great at something

"I know what I'm good at, and I know what I'm not good at" - Mark Cuban

More From Inc.com: How to Give the Perfect Handshake, According to Research

To be a billionaire means you have to be great at something. You have to be confident about what you are good at and have an enormous self-belief that you can better any other person in such activity.

You don't delve into your weak zone rather you develop your area of strength and dominate in that field. Check out the billionaire list and you would find persons who are great at what they do, not average, but great!

You have to know how to say "no"

"He just doesn't have the ability to say no if someone's going to write him a check. And I think that's a huge problem." - Mark Cuban

Saying no matters a lot if you want to be wealthy and Cuban emphasizes this. Billionaires shouldn't dabble into everything that comes their way.

Yes, the more wealth you acquire, the more opportunities will come with it. However your resilience and grit will only be measured on those things you can excellently focus on.

Saying "no" means you can ignore distractions and stay away from those things that will not take you on the path that will lead to success.

Transparency

"He's not transparent enough for us to actually know." - Mark Cuban

Transparency is a key to success in business. And perhaps this may be one issue Mark Cuban has with Donald Trump. No one wants to do business with someone who doesn't have a transparent record.

Cuban's record in business is unassailable which really makes him an actual and accomplished businessman. While Donald Trump is a wonderful businessman, I believe Mark Cuban just brought up a pertinent issue about Trump's style of doing business because transparency triggers enthusiasm and bolsters integrity - a formidable element in helping you get the billions you desire.

Focus on value

"What the hell are you doing? Are you that desperate for money?" - Mark Cuban

More From Inc.com: The 7 Ingredients of Successful Scaling

Money while it is an incentive for you to become a billionaire shouldn't be why you are on that race. Focus on adding value and being of relevance to a lot of people.

I have been in rooms with rich people and showing desperation has never gotten me what I want. Rather than show desperation for the wealth out there, focus on how you can be of relevance to people who will give you the money you want.

Now check out Cuban's best business quotes:

11 PHOTOS
Mark Cuban business quotes
See Gallery
Mark Cuban's recent interview shows what truly makes a billionaire

#1: "I still work hard to know my business. I'm continuously looking for ways to improve all my companies, and I'm always selling. Always."

Credit: Getty

#2: "When you've got 10,000 people trying to do the same thing, why would you want to be number 10,001?"

Credit: Getty

#3: "Because if you're prepared and you know what it takes, it's not a risk. You just have to figure out how to get there. There is always a way to get there."

Credit: Getty

#4: "Go out there and get rich. Get so obnoxiously rich that when that tax bill comes, your first thought will be to choke on how big a check you have to write."

Credit: Getty

#5: "​In the past, people used to tell me to shut up a bit. But what I believe is to put out your opinion and let everyone else react. If I'm wrong, I'm wrong."

Credit: Getty

#6: "I've learned that it doesn't matter how many times you failed. You only have to be right once. I tried to sell powdered milk. I was an idiot lots of times, and I learned from them all."

Credit: Getty

#7: "Work like there is someone working 24 hours a day to take it all away from you."

Credit: Getty

#8: "Forget about finding your passion. Instead, focus on finding big problems."

Credit: Getty

#9: "It's not about money or connections -- it's the willingness to outwork and outlearn everyone when it comes to your business. And if it fails, you learn from what happened and do a better job next time."

Credit: Getty

#10: "What I've learned is that if you really want to be successful at something, you'll find that you put the time in. You won't just ask somebody if it's a good idea, you'll go figure out if it's a good idea."

Credit: Getty

of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

More from Inc.com:
How to Avoid the Top 2 Reasons Millennials Leave Companies
4 Secrets to Creating a Highly Influential Presentation
The Top 10 Companies Millennials Want to Work For

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners