Mark Cuban: New Entrepreneurs Typically Make One Frequent Mistake

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Billionaire Mark Cuban is aware of a factor or two about what it takes to be a profitable entrepreneur — and this week, the Mavericks proprietor appeared on “Good Morning America” to inform the world.

The “Shark Tank” star took viewer questions starting from the way to run a small enterprise to what enterprise recommendation he’d give to newbies who’re simply getting began.

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One viewer requested: “What are a few of the errors you want you may have prevented as an entrepreneur, and what are a few of the greatest errors that first-time entrepreneurs fall sufferer to?”

Cuban responded with one thing that the majority of us are taught early on in life — to deal with others the way in which you wish to be handled.

“I used to be 25 after I began my first firm after I obtained fired, and I all the time thought I needed to be imply as a result of I used to be youthful than everyone else — and that was flawed,” Cuban mentioned. “What I’ve discovered over time is being good actually helps. Good sells, good makes you more cash.”

He adopted up with a easy philosophy, and one thing he appears for when investing in entrepreneurs — be sure to’re targeted on the fitting issues.

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“I used to be all enthusiastic about producing gross sales after I ought to have been extra enthusiastic about producing earnings,” Cuban mentioned, emphasizing that there’s a “massive distinction” between the 2.

Final month, the “Shark Tank” star spoke with GQ about his early entrepreneurial days, crediting a lot of his success to a mix of luck, timing, and naturally, exhausting work.

“I all the time inform folks life is half random. And that is only a actuality for everyone,” he mentioned candidly. “I obtained fortunate … You gotta have timing. I used to be actually fortunate in that.”

Based on Bloomberg, Cuban has an estimated internet value of $6.27 billion.

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