30 Things To Do Immediately About Mark Cuban: 5 Strategies For Starting A Business

That's one key takeaway from billionaire entrepreneur and "Shark Tank" investor Mark Cuban, who shared five business strategies, some of which may surprise you.

Do your research Before starting a business, Cuban does extensive research on an industry to see whether the opportunity is compelling and potentially profitable.


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"It really does involve knowing an industry well, which is why I avoid investing in industries I don't know," Cuban posted on the private messaging app Cyberdust on Wednesday.

Cuban reposted advice he gave for a class project through the app.

"You need to turn over every rock and open every door to learn your industry. This process never ends," he said.

Make your business plan flexible If you think your business plan is set in stone, think again.

Cuban stressed the importance of leaving business plans "Open for change." 2.

Cuban stressed the importance of leaving business plans "Open for change." 3.

Rethink your funding strategy Getting cash for your business is essential, but there's a right way to do it.

Stay away from over-crowded sectors Entrepreneurs shouldn't start a business if an industry is already crowded, Cuban said.