Startup Stories, Quotes & Advice for Entrepreneurs

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Keep meetings to a minimum.

“I don’t like to do a lot of meetings and phone calls because of the productivity hit. Only if you’re writing me a check, I’ll do a meeting. If there’s a problem and we need to solve it, I’ll do a call. Other than that, I keep communication limited to email. It’s more efficient.” -- Mark Cuban

Perceived weaknesses can be valuable strengths.

“You have to put it in your own mind that this is not an affliction that will negatively impact your future. It shouldn’t in any way diminish your self-esteem or be considered something that is going to hurt your chances to be successful at work or in life." -- Kevin O'Leary

Don't follow your passion

“When you enjoy doing something, there is a very good chance you will become passionate or more passionate about it,” the billionaire writes. “When you are good at something, passionate and work even harder to excel and be the best at it, good things happen.”

“With Facebook and other social platforms, you can have highly targeted marketing campaigns to attract customers who are interested in the product or service that you have. Find the user groups they meet up in on social and win them over there." -- Robert Herjavec Robert Herjavec, Target Market, How To Attract Customers, Social Platform, Marketing Campaigns, Meet You, Platforms

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Meet your customers where they are.

“With Facebook and other social platforms, you can have highly targeted marketing campaigns to attract customers who are interested in the product or service that you have. Find the user groups they meet up in on social and win them over there." -- Robert Herjavec

Learn to delegate.

“I always say, if you’re not a marketing person, you didn’t start the businesses to do marketing, so don’t do it." -- Robert Herjavec

"Your customers can tell you the things that are broken and how they want to be made happy. Listen to them. Make them happy. But don't rely on them to create the future road map for your product or service. That's your job." -- Mark Cuban Pink Foods, Business Venture, Make Happy, Roadmap, Listening To You, Motto

Listen to your customer -- up to a point.

"Your customers can tell you the things that are broken and how they want to be made happy. Listen to them. Make them happy. But don't rely on them to create the future road map for your product or service. That's your job." -- Mark Cuban

“Is the business scalable?”

From the annals of business speak, this is the most-often used jargon trotted out by Sharks on the show. Essentially, they’re asking if contestants can handle more than their initial success and put systems in place for consistent growth. It’s an important concept, but an annoying cliche. Translation: Will you be able to meet increased demand and grow revenue quickly and easily?

“That’s a Slick Willie move.”

Daymond John nicknames any entrepreneur who isn’t forthright with their answers or changes valuations mid-pitch a Slick Willie. When Michael Tseng, creator of the food-storage invention PlateTopper, changed his company valuation from about $2 million to $15 million in the midst of talking to the Sharks, John deemed it “a Slick Willie move.” Translation: You’ve been deceptive and lost my trust.

Most of the Sharks have used this at one time or another, though Cuban probably the most, when they want a higher equity stake. Cuban said it to Mike Hartwick and Sarah Ponn of Surfset Fitness, a surf-focused exercise equipment and classes provider. They asked for $150,000 for a 10% stake, but Cuban wanted more “skin in the game” and offered $300,000 for 33%. Translation: I’m willing to put more of my money on the line to get a better deal. Surfset Fitness, Hartwick, Exercise Equipment, Equity, Cuban, Surfing

“I need more skin in the game.”

Most of the Sharks have used this at one time or another, though Cuban probably the most, when they want a higher equity stake. Cuban said it to Mike Hartwick and Sarah Ponn of Surfset Fitness, a surf-focused exercise equipment and classes provider. They asked for $150,000 for a 10% stake, but Cuban wanted more “skin in the game” and offered $300,000 for 33%. Translation: I’m willing to put more of my money on the line to get a better deal.

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“Follow the green, not the dream.”

Cuban used this gem most recently in season four with Erica Cohen and Lori Barbera of Baby's Badass Burgers, a bright pink food truck that sells gourmet burgers (motto: "Come for the burgers, stay for the buns"). Because the truck had steady sales, the pair wanted to open a traditional restaurant. Cuban advised that they stick to what they know. Translation: Focus on what’s working, rather than expanding into a new business venture just for the sake of expanding.

"I get this all the time, which is crazy: ‘I want to be rich. What kind of company should I start?’ You can’t do that. It doesn’t work like that. You’ve got to be good at something and not only be good at it, but you’ve got to love it, and then you’re willing to work and do whatever it takes." -- Mark Cuban Startup Advice, Streetwear For Men, Streetwear Inspiration, I Got This

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"I get this all the time, which is crazy: ‘I want to be rich. What kind of company should I start?’ You can’t do that. It doesn’t work like that. You’ve got to be good at something and not only be good at it, but you’ve got to love it, and then you’re willing to work and do whatever it takes." -- Mark Cuban

Life, Tailored

Startup Stories, Quotes & Advice for Entrepreneurs