Investor and entrepreneur, Mark Cuban, shares his preference for investing in entrepreneurs that have failed before and three essential skills for success in business while offering advice for young people on what money conversations they should be having with friends and mentors.
The most successful entrepreneurs are those who have failed once or twice, as they have felt the sting of failure and their motivations are completely different, according to an investor. The ability to adapt, persevere and understand the market is key to be successful in business.
The lack of financial literacy education in schools is alarming, as most high school students have no idea how to manage their money, use a credit card or even understand debt. Parents should talk openly about money to teach their kids wise money management in every aspect of their lives.