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International Business Times UK
International Business Times UK
Business
Vinay Patel

Mark Cuban Says If You Do These Four Things Then 'Maybe' You'll Be Ready To Start Your Own Business

Careful financial planning, including a safety net, is crucial before launching a busines. Passion and deep knowledge of your field are essential for success. (Credit: Wikimedia Commons)

Leaving your current position to launch your own venture can be both alluring and fraught with risk. But before taking the plunge, ensure you have a fallback plan and consider these four steps, advises Mark Cuban, a highly successful entrepreneur and investor.

"Save your money first. Don't just leave [your job] unless you know what the hell you're doing," Cuban told Wired last month in a video Q&A. His reasoning: While tales of triumph exist, most individuals who abandon corporate life to pursue their own ventures encounter difficulties or outright failure.

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