Dien Rice
September 10, 2013, 10:48 PM
I just watched an episode of Shark Tank (via Hulu)...
In this episode, Mark Cuban gave some good advice, so I just had to write it down...
The advice he gave was for two ladies running a burger truck business. They were making good money with their food truck, and they wanted money to open a restaurant (which is a different business - for one thing, much bigger upfront costs, bigger overheads, and bigger risks...)
Mark Cuban said...
"No. 1 rule of business is follow the money.
I'd rather follow the green than the dream."
Translation: If you're making money doing something - do more of it! Don't "change your mind" and do something different!
In the context of their food truck business - they should run more food trucks, something that's already proven to make them profits, rather than open a restaurant.
I can tell you, I've made this mistake before. You make money doing something. Instead of doing more of the same, and making more money, you get attracted by other opportunities, before you've fully exploited the current opportunity...!
I just thought these were some smart thoughts from Mark Cuban!
Best wishes,
Dien
P.S. This was from Shark Tank, season 4, episode 24...
In this episode, Mark Cuban gave some good advice, so I just had to write it down...
The advice he gave was for two ladies running a burger truck business. They were making good money with their food truck, and they wanted money to open a restaurant (which is a different business - for one thing, much bigger upfront costs, bigger overheads, and bigger risks...)
Mark Cuban said...
"No. 1 rule of business is follow the money.
I'd rather follow the green than the dream."
Translation: If you're making money doing something - do more of it! Don't "change your mind" and do something different!
In the context of their food truck business - they should run more food trucks, something that's already proven to make them profits, rather than open a restaurant.
I can tell you, I've made this mistake before. You make money doing something. Instead of doing more of the same, and making more money, you get attracted by other opportunities, before you've fully exploited the current opportunity...!
I just thought these were some smart thoughts from Mark Cuban!
Best wishes,
Dien
P.S. This was from Shark Tank, season 4, episode 24...
