Mark Cuban has "a secret that all successful people know," he says: Beware of anyone who claims they can sell you a foolproof strategy for making easy money.
"When you see somebody on social media telling you how they're going to make you money, they're lying," the billionaire entrepreneur and investor told his 940,000-plus TikTok followers in a recent post on the social media platform, while sharing his "tip of the day."
Be especially wary of ones who specialize in particular industries, or tell you they'll help you set up a specific kind of business, Cuban said.
"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?"
Instead of cutting corners, do the difficult work of figuring out your best business strategy for yourself, Cuban advised.
Persons:
Mark Cuban, haven't, Cuban, Randall Kaplan
Organizations:
Federal Trade Commission, Better Business Bureau, CNBC
Locations:
Cuban