Mark Cuban Making Sense
- January 17, 2012
- 0 Comments
I never considered myself a Mark Cuban fan. But when I read his blogs and excerpts from his book I find him very convincing. It just doesn’t translate into most of the TV appearances I’ve seen.
One Entrepreneur.com, they’ve run an expert from his book “Mark Cuban’s 12 Rules for Startups” that really hits the spot for us at BP3. A couple of highlights for us:
- “Don’t start a company unless it’s an obsession and something you love” – well, I’d have softened this a bit- either starting a company, or what the company is focused on, needs to be an obsession and something you love. You need one or the other. Preferably both, but one or the other are mandatory. When Lance and I started BP3, we were passionate about BPM and convinced we needed to start a company to achieve our vision around BPM services delivery. But it started with passion on the subject matter for us. That said, it wasn’t the first time for either of us to venture off on our own and attempt to start something, and we’d both worked for other people’s startups.
- “If you have an exit strategy, it’s not an obsession.” Very true. Another bad sign: you have hobbies. When you’re starting up, if you’re passionate about the startup and the subject matter, where is the time for hobbies? Many founders are like Lance and I – married with kids. There’s no time for hobbies for the time being.
- “Hire people who you think will love working there.” Right. If they think BPM is boring, we don’t hire them!
- “Sales Cure All.” Absolutely. Almost any problem your company has can be fixed if you sell more (or more profitably) so that you have the funds to invest in fixing the problem.
- “Know your core competencies and focus on being great at them.” – If you’re doing a services startup, this is a must. Time is really precious, focus is really precious.
- “An espresso machine?” I think coffee is critical – for me even if it isn’t for everyone else! But we also dig the free sodas. And there’s a deli on the first floor. And a small gym. It matters.
There’s more in the article, worth reading.