Although many well-meaning people recommend that everyone get a mentor, whether they need one personally or professionally, Mark Cuban has frequently said he doesn\u2019t think people should.<\/p>\n
Find Out: The No. 1 Key To Wealth, According To Wahei Takeda, the \u2018Warren Buffett of Japan\u2019<\/a><\/strong><\/p>\n Learn More: 8 Things You Must Do When Your Savings Reach $50,000<\/a><\/strong><\/p>\n In fact, Cuban often says that people shouldn\u2019t rely on anyone except themselves when it comes to making money, building wealth or pursuing a business. He has never had a formal mentor<\/a>, and has said there is no specific person he calls for advice.<\/p>\n Cuban says that rather than consulting mentors for advice<\/a>, he takes radical responsibility when he needs to learn something. If there is a new technology on the horizon, he figures it out himself. That\u2019s because, he explains, mentors rely on past knowledge and may not be able to give advice on future ventures.<\/p>\n While it might seem like a good thing that mentors have experience, there are several instances when well-known entrepreneurs wanted to try something new, only to have their mentors caution them against it. In a recent Inc. article<\/a>, author Jeff Haden shared a few examples of other notable entrepreneurs whose mentors recommended different paths.<\/p>\n For example, Jeff Bezos\u2019 boss said his concept for Amazon would be better suited to someone else to start, someone who didn\u2019t have a secure job<\/a> like Bezos. And Warren Buffett\u2019s father cautioned against entering the securities industry. These examples support Cuban\u2019s belief that mentors can only draw on experience; they might not know how to advise on new technology or innovation.<\/p>\n Read Next: I\u2019m Retiring a Multimillionaire: Here\u2019s What I Wish I Knew in My 30s<\/a><\/strong><\/p>\n Of course, mentors and advisors can help in many situations, and many businesses rely on consultants to help solve complex problems. For example, financial advisors can help clients avoid costly mistakes and develop a wealth-building strategy.<\/p>\n Overall, Cuban\u2019s central message is to encourage others to take ownership of their choices and to stay informed. For many people, that could mean meeting with a mentor or hiring a financial advisor<\/a> if they need help. However, Cuban believes people should understand why a mentor encourages them to make specific decisions, rather than unquestioningly trusting an advisor and acting without thinking.<\/p>\n