Know the Industry

April 25, 2004 by Dane | 1 Comment
In Planning, Posts

In an interview with Young Money Magazine, billionaire entrepreneur and Dallas Mavericks’ owner, Mark Cuban explained the key to recognizing a profitable business opportunity:

Knowing the industry very well. Most people think it’s all about the idea. It’s not. EVERYONE has ideas. The hard part is doing the homework to know if the idea could work in an industry, then doing the preparation to be able to execute on the idea.

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  • Rodent Regatta on April 26th, 2004 at 6:01 am

    Would-Be Owners Don’t Get This

    Many potential owners of new small businesses overlook the notion of “know your industry.” Others believe that knowledge of an…

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