If you can, you will quickly find that the greatest rate of return you will earn is on your own personal spending. Being a smart shopper is the first step to getting rich.

In the past people used to tell me to shut up a bit. But what I believe is to put out your opinion and let everyone else react. If I'm wrong I'm wrong. People are afraid to put out their opinions and get push back.

You always have to know what business you are in. Everybody thought we were in the basketball business. It's an NBA-team; we are not in the basketball business. We are in the business of creating experiences and memories.

With Android I get to choose from many different products from many different phone manufacturers. With iOS, I get what Apple gives me. Which isn't necessarily bad, but it's not always the best fit for my personal or business communication needs.

Know your core competencies and focus on being great at them. Pay up for people in your core competencies. Get the best. Outside the core competencies, hire people that fit your culture but are cheap.

I love the competitive aspect of it [business]. It's like playing chess. Why do people play chess? Knowing the realm of moves? Even when you get to be a chess master, there are other chess masters you want to beat or outperform. And to me business is just a sport that I love to compete in; a continuous intellectual challenge that really motivates me.

The reason I do Shark Tank isn't to try take make more money of the deals, even though every deal I want to make money off of and even more so I want the entrepreneurs to be very successful and make money, but Shark Tank sends a message to everybody that the American Dream is alive and well.