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The reason I do Shark Tank isn't to try take make more money of the deals, even though every deal I want to make money off of and even more so I want the entrepreneurs to be very successful and make money, but Shark Tank sends a message to everybody that the American Dream is alive and well.
Technological change always accelerates. It never stagnates over time. Which means we are going to face the fact that, if nothing in the States changes, we will find ourselves dependent on other countries for almost everything that can and will be manufactured in a quickly approaching future.
Part of the bigger problem with Donald Trump is, when you sit and talk to him one-on-one, he's reasonable, he comes across as caring, he's open-minded, but then, all of that just is thrown out the window when he tweets and when he communicates with the media - and when he communicates at all.
I look at my annual budgets for everything and anything, and I look to see where I can save the most money on those items. Saving 30% to 50% buying in bulk - replenishable items from toothpaste to soup, or whatever I use a lot of - is the best guaranteed return on investment you can get anywhere.
It takes a lot of things to work together in order to be wealthy but with a little luck, a lot of luck... You've got to be good at something. For a 20-year-old, you don't have to know exactly what you want to do, you've just got to go find something you can be great at, and then go be great at it.
You need a place where you can explain yourself. You can write as much or as little as you would like, but the words will be all yours. You can create the context. You can make sure that all issues are addressed. You can take issue with individuals or the media as a whole. Your words, your message.
My first company was MicroSolutions. I worked 20 hours a day. I didn't take a vacation for 7 years. I didn't even take the time to read a fiction book. It was all about work. When I sold it, I promised myself I would never wear a watch and only wear a suit to weddings, funerals and to meet the President.
If you are good enough to compete for a top-level corporate job, you should be smart enough to know what the job pays the other gender and negotiate accordingly. If you are an employer, and you don't pay an employee market wages, regardless of gender or orientation, you will end up with what you deserve.
Nothing can kill the future dreams and goals of a new graduate than 50k of debt like an anvil over your head. I got to Indiana University not because I visited the campus and loved everything about it. I picked Indiana University because I saw a list of the top 10 business schools and it was the cheapest.
I have been a proponent of dramatically expanding the AmeriCorps program. By increasing the pay of participants to a living wage, it can act as a jobs program that, rather than trying to predict what will be technically viable jobs, will value social support and provide jobs that make communities stronger.
I was a beast in college. I worked hard and I played hard. I was relentless learning about business. I actually snuck into MBA classes my freshman and sophomore years. I wanted to challenge myself to see how I compared to the smartest kids at Indiana University so I was 18 and pretended I was an MBA student.
When someone has to go to the hospital because they don't have insurance - and by the way, I think the insurance companies should be out of the mix altogether - but when someone needs health care, and they don't have the ability to pay for it, in our communities, we end up paying for it one way or the other.
If the pitch starts with a sob story, I'm out. If the pitch talks about personal issues, I'm out. If the pitch starts off with how big the market opportunity is, I'm out. If the pitch tells me what is unique about the product, how it can make a profit, and it's an area where I have expertise, I will read on.
In these times of the "Great Recession", we shouldn't be trying to shift the benefits of wealth behind some curtain. We should be celebrating and encouraging people to make as much money as they can. Profits equal tax money. While some people might find it distasteful to pay taxes, I don't. I find it patriotic.
In these times of the 'Great Recession', we shouldn't be trying to shift the benefits of wealth behind some curtain. We should be celebrating and encouraging people to make as much money as they can. Profits equal tax money. While some people might find it distasteful to pay taxes, I don't. I find it patriotic.
We all know or have read about someone who has been burned on social media. We have taught our kids not to post pictures publicly that could impact their future, but we have not yet taught ourselves that texts, messages and social media posts could be used just as maliciously or with as much downside as pictures.
Donald Trump has got unlimited number of insecurities. But the No. 1 one thing, I would say, is his insecurity with his intellect. There's a reason why he always refers to where he went to college and, you know, that, 'I'm a smart person.' You know, it may be narcissism. But I think it really reflects an insecurity.
When you hit send on a text or tweet, you lose ownership of it - but you don't lose responsibility. Every text you have sent may have been saved and could be out there waiting to be used in ways you didn't imagine. Even the most simple of posts can be used out of context, often unintentionally, and change your future.
Having the ability to be brutally honest with yourself is the greatest challenge you face when creating a business model. Too often we oversell ourselves on the quality of the idea, service, or product. We don't provide an honest assessment of how we fit in the market, why customers will buy from us, and at what price.
It's not whether the glass is half empty or half full, it's who is pouring the water. The key in business and success at any endeavor is doing your best to control your destiny. You can't always do it, but you have to take every opportunity you can to be as prepared as-and ahead of-the competition as you possibly can be.
I'm not the type to pat myself on the back and all that, but somebody has to be lucky, right? When I got to Dallas, I was struggling - sleeping on the floor with six guys in a three-bedroom apartment. I used to drive around, look at the big houses, and imagine what it would be like to live there and use that as motivation.
Culture is very important to the Mavs. Your best player has to be a fit for what you want the culture of the team to be. He has to be someone who leads by example. Someone who sets the tone in the locker room and on the court. It isn't about who talks the most or the loudest. It is about the demeanor and attitude he brings.
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. I also got to study the success of those I did business with as well. I had more than a healthy dose of fear, and an unlimited amount of hope, and more importantly, no limit on time and effort.
I personally think there's going to be a greater demand in 10 years for liberal arts majors than there were for programming majors and maybe even engineering, because when the data is all being spit out for you, options are being spit out for you, you need a different perspective in order to have a different view of the data.
My guiding principle and motivation was that I wanted to retire by the time I turned 35. There actually are two books that I bought and still have - Paul Terhost's 'Cashing In On the American Dream: How to Retire at 35' and Andrew Tobias's 'The Only Investment Guide You'll Ever Need' - that were my personal financial road map.
Creating a close connection to those you do business with has its many risks, rewards and consequences. There are few things in business I have encountered that are more difficult than firing someone, particularly if that someone has always been, or has become a friend. On the flip side, I have been rewarded with many friends.
A sure sign of failure for a startup is when someone sends me logo-embroidered polo shirts. If your people are at shows and in public, it's okay to buy for your own employees, but if you really think people are going to wear your branded polo when they're out and about, you are mistaken and have no idea how to spend your money.
I was born to sell it as a kid. I think it's partially innate, and partly it's because my parents were always very clear: if I needed anything that wasn't a necessity, I was going to have to save my money and buy it myself. That meant not only did I have to buy basketball shoes, but I had to figure out how to pay for college as well.
It doesn't matter how many times you fail. 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. All that matters in business is that you get it right once. Then everyone can tell you how lucky you are.
You've never heard me talk about politics all that much, and it's just - I can't think of anybody more dangerous as president than Donald Trump. I can't think of anything worse than with him not having a clue. I mean, could you imagine somebody who doesn't read and doesn't learn trying to deal with the day-to-day changes and challenges of that job?
Owning a popular sports team is very different than any other type of business. They don't throw parades when Apple has the biggest quarter in corporate history. People don't call and email asking for anyone from the team to come visit their sick child. They don't cry as they request a jersey of their child's favorite player to be buried with them.
I love the competitive aspect of it [business]. It's like playing chess. Why do people play chess? Knowing the realm of moves? Even when you get to be a chess master, there are other chess masters you want to beat or outperform. And to me business is just a sport that I love to compete in; a continuous intellectual challenge that really motivates me.
It is called working your ass off. The difference is what you are willing to sacrifice. For every writer who wants balance in their life, there is a guy like me who gives up a lot to make their dreams come true. There is always going to be someone out there that knows they have to compensate for maybe having less talent with harder work and preparation.
If I see a black kid in a hoodie and it's late at night, I'm walking to the other side of the street. And if on that side of the street, there's a guy that has tattoos all over his face, white guy, bald head, tattoos everywhere, I'm walking back to the other side of the street, and the list goes on of stereotypes that we all live up to and are fearful of.
You could be beaten down by anybody and by everybody and it doesn't matter what everybody else thinks it's how you see yourself and what your own dreams are. And, you know, anybody who started a business and build a business knows there's going to be lots of times when you feel beaten down and you need some motivation and that's when I turn to that book among others.
The same applies to the music and film industries. Until the heads of the labels start wanting to make money rather than creating controversy, tension, and excuses about why piracy is making the job so hard that no one could do it but them - and oh by the way, they need a raise to really focus in on the fight - the music industry is going to have a very tough time of it.
Tech stocks were the cubic zirconium of the market. They looked good and were sexy, but they just were a way for the company selling them to make money. That's always going to be transient in terms of the stock market. What's real is that companies have to compete. Technology used well is a great tool to enable that if only because most companies dont use technologies well.
On the Internet, there are an unlimited number of competitors. Anybody with a Flip camera is your competition. What makes it even worse is that YouTube is willing to subsidize the cost of your bandwidth. So anybody can create and distribute for free basically, but the real cost is marketing. And that's always the big cost - how do you stand out and what's the cost of standing out? And there's no limit to that cost.
One problem people have is that they lie to themselves. You may think you are more talented then the next guy. Which is exactly what the next guy thinks as well. Rarely is talent enough. You have to find ways to make yourself stand out. You do so by playing to your strengths and making people aware of those strengths. 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.
To retire by the age of 35 was my goal. I wasn't sure how I was going to get there though. I knew I would end up owning my own business someday, so I figured my challenge was to learn as much as anyone about all businesses. I believed that every job I took was really me getting paid to learn about a new industry. I spent as much time as I could, learning and reading everything about business I could get my hands on. I used to go into the library for hours and hours reading business books and magazines.