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Mark Cuban's Rules for Running a Stellar Startup The serial entrepreneur imparts advice from experience running his own ventures and encouraging new business owners.

By Nina Zipkin

entrepreneur daily

Starting a business can be overwhelming. Need some advice? Some encouragement. Enter: Outspoken tech billionaire Mark Cuban.

As an investor on ABC's Shark Tank and owner of the Dallas Mavericks, Cuban knows that when starting a business, passion and enthusiasm is what will give a company its foundation. But before you get started, you must know how you'll make money and sales.

Related: Mark Cuban's 12 Rules for Startups

Playing to strengths and "core competencies" is at the heart of his advice to aspiring entrepreneurs, especially when it comes to technology. Cuban says CEOs should surround themselves with employees who they know would be thrilled to work at the company.

He also recommends maintaining open office to keep communication clear and morale up. The company itself should be as open as the floor plan -- everyone should pitch in and not be focused on a hierarchy.

Watch the video above for more of his tips.

Related: How to Get on 'Shark Tank' and Win

Nina Zipkin

Entrepreneur Staff

Staff Writer. Covers leadership, media, technology and culture.

Nina Zipkin is a staff writer at Entrepreneur.com. She frequently covers leadership, media, tech, startups, culture and workplace trends.

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