What I learned from Mark Cuban — his top 3 Business Tips for Success

Mark Cuban’s surprising top 3 tips for Business Success. Do you agree?

I had the privilege of attending iConic 2015, a one day conference hosted in Chicago. It included speakers such as Matt Maloney of GrubHub, Bert Jacobs of Life is Good, Jason Fried of Basecamp, and Marcus Lemonis of CNBC’s ‘The Profit’.

Mark Cuban was asked to reveal his top 3 tips for new startups so without further ado….

1. “Sales Cures All.”

This one is self-explanatory but his reason for putting this first is simple (and makes sense)- no matter what else is going wrong or right in your company, revenue is always the driving force. Sales can quickly put you on course for success or conversely, sink you, leaving you without any business at all. As @GaryVee (Gary Vaynerchuk) would say, “Cash is Oxygen.”

2. “Don’t ask for help. You don’t need a mentor.”

This one was by far the most interesting to me as overwhelmingly the consensus advice always seems to be that seeking and keeping a mentor is one of the most important things to do in business. As I sat there taking this quote down I wasn’t sure if I agreed or not until I was writing this post and re-evaluated the merit. I thought back to starting my first company in college where I made a TON of mistakes and didn’t have a mentor. It was in these mistakes though that I learned what NOT to do going forward, which is as important as knowing what to do- and many of these lessons I’ve applied to current day and my subsequent companies. This was exactly Mark’s point, instead of asking “Will you help me?”, he said that you are forced to “Go out and do it yourself.”

3. “Be Prepared.”

Again, a very short and to the point piece of advice but expanding on his point he said “If you walk into a room and someone in there knows more than you, YOU LOST.” He went on to say that it’s a requirement you know all there is (or have someone aboard who does) about your industry. You can’t be clueless in your own space. This could at first be interpreted as counter-intuitive since we always see quotes, such as from Michael Dell, which say “If you’re the smartest person in the room, you’re in the wrong room.” I understand and believe that quote since I constantly want to be learning from people possessing more experience and differing perspectives than myself; but Mark’s point circled back to the fact that in business, the only thing you control is your effort. He is constantly holding this point close as it motivates him to outwork any potential competitors.

*BONUS- Mark’s closing Line..

He summed it all up by saying, “Get the F&%# off your ass and go do it.”

What do you think? Do you agree with Mark’s tips? I’d love to hear your thoughts, I’m on Twitter here (@niczito)

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