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 find out how 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 would like you can 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 the majority of us are taught early on in life — to treat others the best way you desire to be treated.
“I used to be 25 after I began my first company after I got fired, and I all the time thought I needed to be mean because I used to be younger than everybody else — and that was flawed,” 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 correct 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 mix of luck, timing, and after all, exertions.
“I all the time 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.”
In response to Bloomberg, Cuban has an estimated net price of $6.27 billion.