Cuban: 3 Rules for Entrepreneurs


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“Don’t ask for help,” says billionaire Mark Cuban, owner of the Dallas Mavericks.

The “Shark Tank” star spoke at the iCONIC conference in Chicago  recently to discuss his very particular brand of entrepreneurial audacity, giving audience members three tips for new business owners.

No. 1: Sales

“Sales cures all,” Cuban said. “There has never been a business that has succeeded without sales.”

No. 2: Just do it already

“The second thing is, this will be kind of counterintuitive, but don’t ask for help. I think one of the things that is challenging new companies right now is that they want a mentor. They want a tutor. Get out there. Ready. Fire. Aim. Go.”

Getting off the couch and going to work is key, he said, a little more colorfully.

Cuban notes that college graduates are often the main perpetrators of the “will you help me?” mantra. He suggests that entrepreneurs should just help themselves to gain richer experiences and truly own their enterprise.

“The one thing in business you can control is your effort,” he added.

No. 3: Be prepared to explain it all

“If you don’t walk into a room and know more about your business, your industry, your company, your customer than everybody else in the world… you are lying to yourself; you don’t know s**t. ” There will always be bigger fish looking to take a bite, and you need to be ready to talk anyone into using your product or service instead of your competitors.

Reprinted by permission.

Image Credit: CC by Andrew Mager.

About the author: Sarah Whitten

Sarah is a news associate for CNBC.

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