Mark Cuban on the Value of Hard Work and Other Tips This Week How to find ideas, make use of holiday downtime and more: our best tips of the week.

By Brian Patrick Eha

Opinions expressed by Entrepreneur contributors are their own.

A roundup of the best tips of the week from Entrepreneur.com.

Mark Cuban doesn't have much patience for dreamers. "Everyone has ideas, most don't do the work required to get the job done," the billionaire tech entrepreneur wrote this week in a question-and-answer session on social-news site reddit. He was fielding questions about what entrepreneurs need to know when starting a business.

One of his characteristically blunt pieces of advice involved encouraging entrepreneurs to skip business school. "I think an MBA is an absolute waste of money," he told reddit users. "I don't give any advantage to someone in hiring because they have an MBA." In lieu of an expensive graduate degree, Cuban recommends filling your knowledge gaps with free online courses. Last month, Entrepreneur.com mentioned some of these resources, such as those available from Udacity and Coursera, in an article about startup tutoring platform InstaEDU. More: Mark Cuban: What Entrepreneurs Need to Know Before Starting a Business

Find ideas by opening yourself up to diverse experiences.
Every entrepreneur knows the value of innovation, but sometimes the well of new ideas dries up. How to refresh it? Get out into the world and experience new things, says Andy Boynton, co-author of The Idea Hunter. "But your world has to be broad enough and diverse enough to feed you the ideas you need." More: How to Find New Business Ideas in Everyday Life

Use a lull in business to grow your intellectual capital.
Faced with a holiday slowdown, many entrepreneurs get anxious. Instead of getting your blood pressure up, relax with a good business book or look into professional workshops to grow your skillset in the new year. You can also take advantage of the slow period to set goals for the upcoming year. Just be sure to post them prominently so you can review them on regularly. More: How to Make the Most of Your Holiday Downtime

To attract hires, articulate a compelling mission.
Since startups typically can't offer salaries as high or hours as regular (and limited) as established companies, it can be difficult for them to attract talent. As an emotional draw to pull in employees, make a compelling case for why your startup is the place to be -- whether that's because it's doing good in the world or it's primed to make a bundle in an emerging market. More: 3 Ways to Recruit Talent for a Hungry Startup

Find a mentor who shares common ground with you.
The key to a successful mentoring relationship is finding someone who shares your values and with whom you have personal chemistry. Phil Morabito realized this when he needed advice on how to grow his Houston-based public relations firm. He found a mentor who worked in a different field but whose values lined up with his own, and they formed a personal bond. This sort of bond "is crucial to the success of the relationship," says Dr. Sharon Straus of the University of Toronto, who has studied mentor-mentee interactions. More: 4 Ingredients for Successful Mentoring Relationships

Wavy Line

Brian Patrick Eha is a freelance journalist and former assistant editor at Entrepreneur.com. He is writing a book about the global phenomenon of Bitcoin for Portfolio, an imprint of Penguin Random House. It will be published in 2015.

Editor's Pick

She's Been Coding Since Age 7 and Presented Her Life-Saving App to Tim Cook Last Year. Now 17, She's on Track to Solve Even Bigger Problems.
Lock
I Helped Grow 4 Unicorns Over 10 Years That Generated $18 Billion in Online Revenues. Here's What I've Learned.
Lock
Want to Break Bad Habits and Supercharge Your Business? Use This Technique.
Lock
Don't Have Any Clients But Need Customer Testimonials? Follow These 3 Tricks To Boost Your Rep.
Why Are Some Wines More Expensive Than Others? A Top Winemaker Gives a Full-Bodied Explanation.

Related Topics

Business News

California Woman Arrested For $60 Million Postal Service Scam

Lijuan "Angela" Chen faces two charges that each carry a maximum sentence of five years in prison.

Business News

A Wegmans Employee Allegedly Stole Over $500,000 from the Company

Alicia Torres pleaded guilty to crimes carried out over nine years while working at Wegmans in Webster, New York.

Operations & Logistics

How to Combat Robocalls and Scammers With Anti-Call Technology

We're still far from eliminating scam calls, but we're adding new tools and standards. Only by adopting new technologies can call centers rebuild trust and confidence with the people they serve.

Resumes & Interviewing

3 Tips for Mastering the STAR Interview Method

The STAR interview method is a powerful tool to showcase your problem-solving abilities and past experiences. By preparing specific examples and practicing your responses, you can demonstrate your qualifications and increase your chances of landing the job.

Business News

The FTC Is About to Change Subscription Services Forever. Here's How You Can Prepare.

The new "click-to-cancel" provision will make renewing and terminating subscriptions easier.

Devices

Score a Refurbished, Grade-A iPad Mini and Free Headphones for Just $99.99

Take advantage of this amazing price just in time for summer.