When you think of Mark Cuban, it's easy to assume that his career has been a string of one success after another. After all, his business empire includes the Dallas Mavericks professional basketball team, Landmark Theatres, and Magnolia Pictures. And he's best known today for his role as a "shark" investor on ABC's Shark Tank, in which he dishes out sage advice to aspiring entrepreneurs. But that advice comes from personal experience--Cuban has had his fair share of business failures, which simply comes with the territory of trying to start something new from scratch.
So how do you recover from failure and keep going? Here are a few of Cuban's most reassuring quotes for startup founders who stumble along the way:
"Recessions are the best time to start a company. Companies fail. Others hold back capital. If you are willing to do the preparation and work, it is the best time to invest in yourself and start a business." -- interview with AskMen
On failing more than once:
"I've learned that it doesn't matter how many times you failed," Cuban says. "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." -- Interview with Smart Business
On using failure as a motivator:
"It's so painful, I don't ever want to experience it again," he said. "I take the lesson of what I did wrong but more than that I take the fact that I hated it so much as motivation to do the work. That fear of failure motivates me more than anything." -- Interview with Newsmakers
"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 because all that matters in business is that you get it right once. Then everyone can tell you how lucky you are." -- "How to Win at the Sport of Business: If I Can Do It, You Can Do It" (2011)
On the true reason why companies don't succeed:
"It's not about toughness, it's not about attitude. Companies don't fail for lack of cash or attitude. Companies fail for lack of brains and effort." --Interview with Inc.