While during “Shark Tank” Mark Cuban called what he describes as “inventor-itis” one of the worst traits a business owner can develop, he likewise revealed during a visit to Lewisville High school In Lewisville, Texas, he explains what he believes to be the most important ingredients for a successful business.
The key to starting an enterprise when you’re young, he explained, is doing the things you can yourself. Things that you can accomplish in your spare time. It’s important to choose a product that is easy to obtain and sell. It’s really a simple matter: The best businesses come from things that you control yourself and can do. “That’s the essence of being an entrepreneur.”
This is in line with the “inventor’s-itis”, as developing new products for profit effectively takes a company out of an owner’s hands. Although entrepreneurship is more complex than avoiding “inventor’s-itis” or maintaining a DIY mentality, this two-part insight from an entrepreneur of note offers some key advice.