"If you're not failing, you're not trying" - Shark Tank's Mark Cuban on taking action without fear of failure

Shark Tank investor, Mark Cuban, talked about how failure is a crucial step that any person starting their journey has to take. Failure is traditionally viewed as a setback or a roadblock in the path to success.

However, Mark says that failure, for him, is not only inevitable but also an important part of the journey. He sat down on the Your Mom's House Podcast and spoke about the importance of failure in achieving long-term success.

The Shark Tank investor focuses on a mindset that resonates with many other successful entrepreneurs who believe that risk-taking and learning from mistakes is a major part of innovation. Cuban lays importance on trying even though it doesn't lead anywhere.

He has experience in the tech industry and now as an investor on Shark Tank which has shown him that resilience and adaptability are important parts for any entrepreneur. Talking about the same on the podcast, Mark explained,

"Because if you're not failing, you're not trying. I mean, it's clichéish, but it's true. You’ve got to dive in and try things and see what happens, and that’s okay if it doesn’t work because, especially in investing, you want your wins to cover all your failures."

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Shark Tank investor Mark Cuban highlights the importance of failure when it comes to moving forward

The investor, Mark Cuban has the idea that wins should be able to cover all the failures, especially when it comes to investing. Reminiscing a company called Beatbox Beverages that came onto Shark Tank and sought help, Mark says that they had struggled initially but after appearing on the show, have made a name for themselves.

According to him, the journey the entrepreneurs had exemplifies the idea that consistency, when paired up with strategic moves is important for a path to success. Talking about them, Mark said,

"Like down here in Austin, I'm going to see the guys from Beatbox Beverages. You know, they were a Shark Tank company, and they're just crushing it. They went from struggling initially when they came on the show to, through more effort on their own, now being at hundreds of millions of dollars in sales and being worth hundreds of millions of dollars as a company."

Another company that Mark talked about is Dude Wipes. It had appeared on Shark Tank season 7. Talking about the same, Mark says that they have become a major brand now and everybody knows their name when it comes to retail.

Mark said their journey has been incredible because they started small but are now worth approximately half a billion dollars in valuation. According to him, this dramatic success of their company is due to the power of innovation and strategic marketing.

The view that this investor has about failure is what often holds many entrepreneurs back. But Mark, instead of seeing failure as an end, views it as an important step when it comes to having growth.

This mindset is aligned with the view that celebrates learning through experiences and even failures rather than being fearful of the same.

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Shark Tank season 16 episodes are released weekly on ABC at 8 PM Eastern Time on Fridays. They are later available to watch on Hulu.