Mark Cuban has taken to Reddit to answer questions on everything from the NBA, to his famous confrontation with ESPN talking head Skip Bayless, to his unconventional ideas on tax policy. He also gave advice on what made him famous before he became the high profile owner of the Dallas Mavericks and his incredible success as an entrepreneur.
When asked what people should know before starting a business, he responded:
“It’s not about the idea, it’s about how prepared you are. Everyone has ideas, most don’t do the work required to get the job done. The 2nd thing you need to know is that sales are the most important aspect of a small business. No sales, no company.”
Cuban’s advice is all about being pragmatic. People toss around terms like “disruption” and “innovation,” then go and make products that nobody wants to buy, or don’t actually do the work required to make their idea work as a business.
When it comes to his personal success, he takes a similar tack. When asked about passion versus hard work and how he motivated himself he wrote:
“I daydreamed for motivation. I didn’t lie to myself and talk about my passions and how if I was passionate enough about something i could be successful at it.
I was lucky. I grew up knowing that hard work and smart work [has] a greater impact on results than being passionate about something.”
So work hard, and be prepared.
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