Mark Cuban Reveals The Top Reasons That Most Entrepreneurs Fail
“Shark Tank’s dirty little secret is that it’s P.R. Viagra, and if you’re not ready for that pop, you’ve lost the biggest opportunity.”
Mark Cuban, best known as one of the shark tank investors and marketing superstar gives us his take on why most entrepreneurs fail to run a successful business. One of the top things that he looks for in a person leading a company is knowledge about their particular industry. If you don’t know how your business fills a gap in the market in your industry and provides unique value to customers, it is unlikely to be successful. As an investor he rarely gets involved in an industry which he has no working knowledge of.
When asked the reason for the number one reason that people fail when starting companies are “lack of effort” and “lack of brains”. Although this may sound obvious, it can be overlooked when someone comes up with a good idea with which to start a company. The idea itself is only as good as the person or people that make it happen. Definitely something worth bearing in mind when starting a company.
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