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If you dont believe that, consider Cubans failed powdered milk company.
You probably havent heard of it you recognize the entrepreneur for his success.
What does going for it mean in practice?
Here are four more tips from Cuban onstarting a successful business.
Many that survive the first 12 months will fail within the first five years.
Thats why Cuban says failure is part of being an entrepreneur you have to embrace it.
In other words, dont allow a fear of failure to keep you from pursuing a goal.
Instead, recognize that failure is one possible outcome among several.
Create a business plan with that in mind.
This is smart to do in light of the hard data on failure.
you might also move between ideas faster when money is less of a limiting factor.
For instance, if your first business fails, you may have a second idea to try.
Learn How To Learn
Cuban told ZenBusiness about the importance of continual learning as a business owner.
He said loving to learn is a skill every entrepreneur needs.
The key reason for this is that starting a business involves trying a lot of new things.
You become an accountant, marketer, salesperson, product designer and more.
These are each deep fields of knowledge you may have never explored before but your competitors have.
To keep up, you gotta become an expert in each aspect of running a successful business.
If you dont love learning new things, it could overwhelm you.
If youre someone who doesnt exactly love learning, there may be ways past that.
He told ZenBusiness, Selling is not convincing.
Your customer should love the product youre selling as much as you do.
Ultimately, theres more than one way to start a successful business.
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