Mark Cuban’s 12 Rules for Start-up Companies
It’s safe to say, Mark Cuban, owner of the Dallas Mavericks basketball franchise and countless other corporate entities is a pretty astute businessman. With a keen eye for new and emerging companies, he has built an empire enviable of just about anyone. Cuban, whose net worth Forbes estimated to be $2.6 billion, recently shared his 12 rules when it comes to starting a business:
- Rule 1 – Don’t start a company unless it’s an obsession and something you love
- Rule 2 – If you have an exit strategy it’s not an obsession
- Rule 3 – Hire people you think will love working there
- Rule 4 – Sales cure all
- Rule 5 – Know your core competencies and focus on being great at them
- Rule 6 – Lunch is a chance to get out of the office and talk
- Rule 7 – No offices. There’s nothing private about a start-up
- Rule 8 – As far as technology, go with what you know
- Rule 9 – Keep the organization flat
- Rule 10 – Never buy promotional swag
- Rule 11 – Never hire a PR firm
- Rule 12 – Make the job fun for employees
Starting a new business requires dedication, hard work, planning and financing. Mr. Cuban’s 12 rules combined with a viable business plan and execution will most certainly be keys to your success.
