"Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don’t do it.”– Mark Cuban

Born in July 1958, Mark Cuban is an American businessman, investor, author, television personality, and philanthropist. He owns the NBA’s Dallas Mavericks and he is the co-owner of 2929 Entertainment. He is also the chairman of the AXS TV, and a major investor of the ABC’s reality television series, Shark Tank.

In 2011, Mark Cuban authored an e-book, How to Win at the Sport of Business, in which he chronicles his experiences in business and sports. Here are his 12 rules for business startups:

1. Don’t start a company unless it’s an obsession and something you love.

2. If you have an exit strategy, it’s not an obsession.

3. Hire people who you think will love working there.

4. Sales Cure All. Know how your company will make money and how you will actually make sales.

5. Know your core competencies and focus on being great at them. Pay up for people in your core competencies. Get the best. Outside the core competencies, hire people that fit your culture but aren’t as expensive to pay.

6. An espresso machine? Are you kidding me? Coffee is for closers. Sodas are free. Lunch is a chance to get out of the office and talk. There are 24 hours in a day, and if people like their jobs, they will find ways to use as much of it as possible to do their jobs.

7. No offices. Open offices keep everyone in tune with what is going on and keep the energy up. If an employee is about privacy, show him or her how to use the lock on the bathroom. There is nothing private in a startup. This is also a good way to keep from hiring executives who cannot operate successfully in a startup. My biggest fear was always hiring someone who wanted to build an empire. If the person demands to fly first class or to bring over a personal secretary, run away. If an executive won’t go on sales calls, run away. They are empire builders and will pollute your company.

8. As far as technology, go with what you know. That is always the most inexpensive way. If you know Apple, use it. If you know Vista, ask yourself why, then use it. It’s a startup so there are just a few employees. Let people use what they know.

9. Keep the organization flat. If you have managers reporting to managers in a startup, you will fail. Once you get beyond startup, if you have managers reporting to managers, you will create politics.

10. Never buy swag. A sure sign of failure for a startup is when someone sends me logo-embroidered polo shirts. If your people are at shows and in public, it’s okay to buy for your own employees, but if you really think people are going to wear your branded polo when they’re out and about, you are mistaken and have no idea how to spend your money.

Go to the link below to complete your reading

https://www.youngleadersarena.com/small-business/mark-cuban-rules-for-startups/

SENSE PILL

11. Place yourself on a salary. That you are the MD/CEO does not give you the right to dip into company financies and go on spending spree. If you have other source of income, do not touch profits for at least 3years.

12. Have an accountant that knows his onion.

13. Give everything around the company a touch of excellence( it is nothing but doing a common thing in an uncommon way) . It has nothing to do with money but class. No matter the economy of the jungle, the lion does not eat grass. Never offer poor quality services nor products!


14. Have value for time! If your opening time is 8am. The office must be opened at that time. This is one of the reasons the rich keep getting richer.

15. MD/CEO must be first to show up and last to leave.

16. Only those who have a pact with average life work 8 hours daily n sleep for 8 hours also. The rich know they have enough time to sleep in the grave. If your doctor, that advised you to sleep 8 hours daily did that, he wouldn't have passed his medical exams.

* As an MD/CEO , Learn to use the night hours! They hold the secret wealth of insights, ideas and inspiration!

* Learn to blend being a leader and a boss. You can't be too soft, you can't be too strong.

17. Avoid wastes . Every staff member must fit into the grand scheme of things and effectively contribute to the growth. Go for cheap but effective techs that reduces wastes also.

18. Have integrity. The is one of the back bones of great biz! Your yea must be yea and your nah, nah. Don't ever compromise.

Lastly,

Never step out of your house without talking to the giver of life, the master planner, the great business man, Jesus!

He who flourished in business with lay men of diverse characteristics. A tax collector, fisher men, a thief, doubter. Lay men with no formal education. He took them all and turned them into stars( except the son of pardition) that we still read about today.

And the mind of God/ secrets revealer, he who inspires and give utterances, he who leads the way we should go and guides us from evil men and means: the Holy Spirit

For the heart of men is desperately wicked.
Never for once think top heavy weights in biz are there by chance or luck.

You can't sit on the fence neither. You are either for God or....

Call me a preacher man if you so suit! Don't give no hoot.



Pecilled by Don.