Billionaire investor and entrepreneur Mark Cuban has a straightforward message for those seeking to make easy money: beware of anyone claiming to have a foolproof strategy for wealth. In a recent post to his 940,000-plus TikTok followers, Cuban warned against the allure of so-called business gurus on social media who promise lucrative returns. Cuban’s reasoning is simple: "If they were really that good, they would be making themselves rich and not sharing [their strategy]."

Cuban’s advice comes amid a surge in online and social media platforms offering business coaching services and investment advice. However, both the Federal Trade Commission and the nonprofit Better Business Bureau caution that while some of these services can be legitimate, potential scams abound. Aspiring entrepreneurs should be especially skeptical of consultants who specialize in particular industries or promise to help set up a specific type of business. According to Cuban, these individuals are likely selling their strategies to multiple people, thereby creating competition among their own clients.

Mark Cuban’s Secret to Success: Don’t Buy Into ‘Easy Money’ Schemes

Billionaire entrepreneur and investor Mark Cuban has shared a secret to success that he believes all successful people know. In a recent post on TikTok to his over 940,000 followers, he warned them to be wary of anyone claiming to sell a foolproof strategy for making easy money. He stated that when someone on social media tells you they can make you rich, they’re most likely lying.

The Illusion of Easy Money

Cuban argues that if such people were truly skilled at generating wealth, they would be enriching themselves instead of sharing their strategies. "When you have a great idea, when you have a way to make lots of money, the No. 1 thing you are not going to do is sell [it] to anybody else. You’re going to use it for yourself," said Cuban. He cautioned his followers about so-called business gurus who offer themselves as consultants, especially those who claim expertise in specific industries or promise to help set up a particular type of business.

The Problem with Shared Strategies

The billionaire investor pointed out the flaw in buying into someone else’s business strategy. He explained that anyone selling you a business idea is likely selling it to others as well, thus inadvertently creating competition for you. "When somebody is selling their idea — shoes, drop shipping, whatever it may be — to you, and they’re selling it to other people, you know what they’re doing besides lining their pockets? They’re creating competition for you," Cuban highlighted.

Beware of Scams and Do Your Homework

Cuban’s advice aligns with warnings from the Federal Trade Commission and the nonprofit Better Business Bureau. Both organizations advise caution and thorough research before engaging with business coaching services or investment advice online. They recommend consulting with a trusted individual, verifying the consultant’s credentials, checking for any past complaints, and being wary of anyone pressuring you into making a swift decision.

The Real Secret to Success

Cuban’s real secret to success is simple: instead of looking for shortcuts, work hard to figure out the best business strategy for yourself. He believes that making this extra effort gives you a significant competitive advantage. In closing, he reiterated, "Save your money. Figure it out. Do it right."

Takeaways

Cuban’s advice serves as a reminder that there are no shortcuts to success. While the lure of easy money can be tempting, it’s important to remember that true wealth is often built through hard work, smart decisions, and a bit of patience. Beware of those selling ‘get rich quick’ schemes and instead, focus on developing your own path to success.