Billionaire Mark Cuban knows a thing or two about what it takes to be a successful entrepreneur — and this week, the Mavericks owner appeared on “Good Morning America” to inform the world.
The “Shark Tank” star took viewer questions starting from the right way to run a small business to what business advice he’d give to newbies who are only getting began.
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One viewer asked: “What are a few of the mistakes you want you could possibly have avoided as an entrepreneur, and what are a few of the biggest mistakes that first-time entrepreneurs fall victim to?”
Cuban responded with something that almost all of us are taught early on in life — to treat others the way in which you wish to be treated.
“I used to be 25 after I began my first company after I got fired, and I at all times thought I needed to be mean because I used to be younger than everybody else — and that was incorrect,” Cuban said. “What I’ve learned over time is being nice really helps. Nice sells, nice makes you extra money.”
He followed up with an easy philosophy, and something he looks for when investing in entrepreneurs — ensure you are focused on the proper things.
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“I used to be all enthusiastic about generating sales after I must have been more enthusiastic about generating profits,” Cuban said, emphasizing that there’s a “big difference” between the 2.
Last month, the “Shark Tank” star spoke with GQ about his early entrepreneurial days, crediting much of his success to a mixture of luck, timing, and in fact, labor.
“I at all times tell people life is half random. And that is only a reality for everyone,” he said candidly. “I got lucky … You gotta have timing. I used to be really lucky in that.”
According to Bloomberg, Cuban has an estimated net value of $6.27 billion.