American reality TV series, Shark Tank, has been helping promising entrepreneurs launch their products since it premiered on August 9, 2009 and has created many millionaires.
The Cast of the TV show, speaks for itself in terms of financial success: Whether it’s investor and entrepreneur Kevin O’Leary — Mr. Wonderful — billionaire entrepreneur Mark Cuban or real estate mogul Barbara Corcoran, they are all successful entrepreneurs and businesspeople in their own right, even though they each took different paths to become wealthy.
American businessman, entrepreneur and television personality, Mark Cuban, with a net worth of $5.4 billion, has always reiterated his motto; Work Hard.
“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,” Cuban told Entrepreneur.
The TV show cast added that you not only have to be good at something, but you also need to be willing to work hard and ‘and do whatever it takes.’
According to Cuban, if you’re fortunate, all your hard-work will eventually create wealth for you.
Also, television personality and businesswoman, Barbara Corcoran, who has a net worth of more than $100 million, told Entrepreneur that being competitive is key to success.
According to her, while you need a passion to succeed, you will also need a strong work ethic and to put in as many hours as possible.
“If you want to be really rich, you better decide early to start a business of your own,” she told Entrepreneur. “It’s only when you put yourself in charge that you have a shot at becoming rich.
“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,” she said.
Additionally, Kevin O’Leary, who has a $400 million net worth, according to Entrepreneur emphasized that you cannot become a millionaire if you work 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.” he told Entrepreneur.
Another cast, Chris Sacca, founder and partner of Lowercase Capital, who has a $1.2 billion net worth, according to Forbes says staying out of debt is a key component of building wealth and becoming a millionaire.
“People get out ahead of themselves in debt with spending on all of their desires,
“But if you learn to live pretty simply and well, well under your means, you feel incredibly, incredibly rich and that frees you up and gives you the option to start something new, to leave the job you’re not excited about, where there might be a glass ceiling on you.” Sacca told Entrepreneur.
Other cast members agree that staying out of debt is the way to wealth.
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