Billionaire Mark Cuban was solely 12 years previous when he launched his first aspect hustle, so he is aware of what it takes to begin a enterprise at a younger age.

And, he says there’s one easy factor you must contemplate if you wish to do it, too.

“The important thing to beginning a enterprise once you’re younger is doing issues that you are able to do your self — issues you are able to do with your personal time,” Cuban lately advised a bunch of highschool college students at Lewisville Excessive College in Texas.

Meaning beginning with what you already know, he famous.

“If it is a product, do one thing that is straightforward so that you can get and simple so that you can promote,” Cuban mentioned, including: “It actually comes down to at least one easy factor. The most effective companies are issues you possibly can management and do your self. That is what being an entrepreneur is all about.”

Cuban famously obtained an early begin studying to run his personal enterprise as a pre-teen promoting rubbish luggage door-to-door in a Pittsburgh suburb. Later, he offered quite a lot of collectibles, from baseball playing cards to cash and stamps, saying the proceeds helped pay for his school tuition.

In every of these circumstances, Cuban used home goods and collectibles that have been accessible to a child and promote them for a revenue — following his personal recommendation for youngsters at present.

Equally, as a school scholar, he labored as a bartender and taught dance classes to make extra cash. Cuban later confirmed off his dance expertise publicly by showing on “Dancing With the Stars” in 2007, ending eighth within the competitors.

“I used to be a hustler … I’ve all the time been promoting. I all the time had one thing happening. That was simply my nature,” Cuban mentioned throughout a 2016 episode of ABC’s “Shark Tank.”

Now, Cuban says he recurrently tells youngsters and youngsters trying to begin their very own companies to do what he did. Construct round “one thing they will make or a service they will provide to pals, household and neighbors,” he advised CNBC Make It in September.

That is simpler mentioned than performed, after all: Efficiently launching and rising your personal enterprise is infamously difficult. Roughly 20% of recent companies fail inside a 12 months of launching, based on information from the U.S. Bureau of Labor Statistics.

“Being an entrepreneur and beginning a enterprise does not imply it should be straightforward and hastily you make some huge cash,” Cuban advised the scholars at Lewisville Excessive College. “Being an entrepreneur is the more durable means.”

If it was straightforward, he added, “you all would already be doing it and approaching ‘Shark Tank’ and taking my place.”

Discovering one thing you possibly can management and do your self is tough sufficient. Changing into nice at it — which, by the way, is Cuban’s No. 1 rule for creating wealth — is rather a lot more durable.

It entails extensively researching your marketing strategy and potential competitors, in search of out funding, and creating backup plans to permit for flexibility if you must alter on the fly, the billionaire has beforehand mentioned.

So long as you do not thoughts placing in that work, particularly after you select your enterprise alternative, a world of alternative can open up for you, Cuban advised the highschool college students.

“If you happen to’re prepared to take the initiative and begin a enterprise, something is feasible,” he mentioned.

Disclosure: CNBC owns the unique off-network cable rights to “Shark Tank.”

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