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Starting a business is often seen as an endeavor reserved for those with deep pockets and hefty investment capital. However, according to entrepreneur and investor Mark Cuban, the reality is quite different. In fact, Cuban suggests that the majority of small businesses and startups can kick off without raising any external funds. How? By leveraging sweat equity and adopting a mindset of resourcefulness.
Photo: Courtesy of Masterclass
Cuban emphasizes that aspiring entrepreneurs don't necessarily need a large sum of money to get started. Instead, they can rely on their own hard work, dedication, and creativity to lay the foundation for their venture. This approach allows them to retain full ownership and control over their business from the outset.
But what about the challenges of juggling a startup while working a full-time job? Cuban acknowledges that finding the right balance can be tough. Many entrepreneurs find themselves grappling with the dilemma of whether to quit their day job or pursue their business dreams on the side.
"The hard part for most people is that trade-off between do I keep my job or how do I start a company when I have a job?"
For those facing this predicament, Cuban offers a pragmatic solution: supplementing their income with part-time work or gigs. Whether it's bartending at night or driving for a ride-sharing service on weekends, the key is to generate enough income to sustain oneself while dedicating precious time and energy to building the business.
Kevin O'Leary, another seasoned entrepreneur, echoes Cuban's sentiments, emphasizing the importance of hard work and perseverance in the entrepreneurial journey. He asserts that anyone can become an entrepreneur if they are willing to put in the hours and hustle relentlessly.
"You know, like they always say, entrepreneurs work 80 hours so they don't have to work at 40."
In essence, the message from Cuban and O'Leary is clear: entrepreneurship is not reserved for the privileged few with access to capital. With determination, resourcefulness, and a willingness to work tirelessly, aspiring entrepreneurs can turn their dreams into reality, even without a hefty bankroll. So, roll up your sleeves, put in the hours, and remember: success favors the tenacious.
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