Mark Cuban, owner of Dallas Mavericks and a very successful entrepreneur, has listed out a few rules that he thinks startups must follow in order to see success. These are pure gold!
Do It Only If It Is An Obsession
Mark Cuban says that you should start a business only when the idea is something you are passionate about. There are numerous startup ideas that come to our minds but what we choose and whether we actually implement should directly depend on whether we love the idea and are obsessed with it.
“If you have an exit strategy, you are not obsessed,” he adds.
Employ People Who Love It Just Like You
Small business solutions will come to you from your employees only if they love what they are doing. Hence, when you hire, along with skill you should look at hiring employees who are passionate about their job role and the startup as a whole.
Sales Is The Key
Your sales and pricing strategies must be very clear. Understand how much money your company can make and how you will make that money. In other words, how are you planning to sell?
There Is No Privacy In A Startup
Believe it or not, small business sustainability is achieved through openness. Everybody in your startup should work together and share ideas. Anybody who wants to work privately or bring in a personal secretary is a big no.
Use What You Are Confident With
Technology gives you numerous options to explore today and you don’t have to choose something that you think is the best. At the same time you don’t need to force your employees to use the same. You have just started so you should be flexible and let everyone (including yourself) use whatever he or she is comfortable with. Vista and Apple, both are fine.
Make It Fun
Want excellent small business solutions and ideas from your employees? Give them an environment in which they will flourish. Maintain adequate stress level – just enough to keep them going but not higher than that. Reward employees who do well. This is crucial. Always show that you appreciate them.
Mark Cuban has some excellent insights, which come from experience. Use them for startup success!
Learn of the rules that Mark Cuban applied for startups and ensure that your startup sees success. He has always believed in making the work environment friendly and employing only those who are open to working flexibly and those who are really passionate about their work.