If you think that raising capital is the best way to get your business off the ground, you're wrong, according to Mark Cuban.at SXSW last month, and opt to start a business "with as little money as possible."of startups, including some on ABC's "Shark Tank." But those companies often already have momentum, and need external funding to achieve a specific goal.
"People get this mindset that, 'OK, I'm starting a business. Now, I've got to go raise money,'" Cuban said, adding: "Just remember raising money, whether it's from me, on 'Shark Tank' [or] anywhere, that's an obligation. There's somebody who wants that money back." Instead, Cuban recommends using your own personal savings to get any business off the ground. That way, you're "controlling your own destiny," he said. "The more of your equity that you can retain and control, the more the upside."Cuban started his first company, a computer systems company called MicroSolutions, on his own dime. He sold the startup to CompuServe for $6 million in 1990.
Four years later, Cuban and his friend Todd Wagner invested $10,000 in a small startup called Cameron Audio Networks. Later, sensing potential, they offered the company's ownership a buyout — ultimately assuming a large majority of its equity and turning it into Cuban's second company, Broadcast.com."If you look at people with a B next to their name, it's because they own all that equity in their company," Cuban said.
An examination of the world's richest people shows this to be at least partially true. Elon Musk, who has an estimated net worth of $187.9 billion, owns about 23% of Tesla and 74% of Twitter,
MakeIt Do you need US$750k to start? Or is cheating ok? Asking for a friend. Lol.
MakeIt Who would take advice from a staunch supporter of Hillary Clinton?
MakeIt 'get lucky in the dot com bubble--right time, right place--and then invest like an average investor to grow your millions.
The best way or at least the way the Old South created business was with ancestors of slaves and the rich man got richer and even the ancestors of slaves got richer it show vou how a business can be created even with the end of slavery by a rich man and use to make money.
Another good way would be to stay away from Kyrie Irving
Don’t hire Kyrie
Marry rich!
Just have your team tank the last game of the season. Boom, easy. 🤷♂️
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