5 Important Tips Billionaire Mark Cuban Has for Female Entrepreneurs

culled froml;http://www.grandascent.com

Mark Cuban has made a life out of business and investing, and the mogul naturally has shared some of his tips throughout the years. Here are some of his best tips and quotes that any entrepreneur or hopeful entrepreneur can apply to their own experiences.
#1) Be Obsessed with Your Concept

“Don’t start a company unless it’s an obsession and something you love. If you have an exit strategy, it’s not an obsession.”

To really put all the work in that’s required of starting and running a successful business, you should be pretty into your idea. It’s not enough to think that it is a good idea, or assume that it should work out, it should be something that you can’t do without in your life. Otherwise it will be too tempting to walk away from it all when things get too complicated, challenging, or even boring.

#2) Make Things Easy where You Can

“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.”

There are going to be more complications starting a business than you could ever imagine, so keep things simple wherever you can. You should be using the most efficient programs and pieces of technology, but if multiple kinds are comparable don’t think that you have to go with the trendiest type. If you already know your way around one fully functional piece, just stick with that until you need to evolve. This can save you some money in the start up phase as well.

#3) Make Things Fun

“Make the job fun for employees. Keep a pulse on the stress levels and accomplishments of your people and reward them. My first company, MicroSolutions, when we had a record sales month, or someone did something special, I would walk around handing out $100 bills to salespeople. At Broadcast.com and MicroSolutions, we had a company shot. The Kamikaze. We would take people to a bar every now and then and buy one or ten for everyone. At MicroSolutions, more often than not we had vendors cover the tab. Vendors always love a good party.”

Not everyday all day should be a party, but if you can keep your employees feeling like actual people and not your servants they are going to be a lot more dedicated and work harder over the long term. Having opportunities for them to be rewarded for their hard work is great, and when it can be done in a fun way it’s even better. Who doesn’t like to have fun.

#4) Do Right from the Start

“It is so much easier to be nice, to be respectful, to put yourself in your customers’ shoes and try to understand how you might help them before they ask for help, than it is to try to mend a broken customer relationship.”

Paying attention to all aspects of how your business is being run is going to do you well in the long run. It’s easy to take on the assumption that you know better than your customer since you’re the one with the business and the product or service, but how your customers feel about it can be one of your biggest teachers.

The worst complaints and reviews than you get from people can be some of your biggest teachers. It does not mean that all people feel that way about your product, but it does mean that someone does, and why not make the smallest changes as they come up to ensure that you never have to hear that specific complaint again.

#5) Throw Out the “Risk” Factor

“Because if you’re prepared and you know what it takes, it’s not a risk. You just have to figure out how to get there. There is always a way to get there.”

If you really want to do or create something, why would you bother think of ways why it can’t work? That’s what everyone else is going to be doing out there, telling you reasons why not to take the risk. You don’t need to do it yourself. Most of the best ideas out there were shot down by people before they became reality, in fact probably every good idea out there was highly doubted at some point.

But if you’re truly following your passions and making your goals obsessions, you’re better off attempting it anyway. When you really want something, trying is probably going to be less difficult than not.