Mark Cuban: Don't Quit Your Job to Start a Business Without Doing This No. 1 Things First

Photo: South China Morning Post

Mark Cuban warns you need 6 months' savings before quitting your job to start a business

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Roughly half of Gen Z workers want to start a company someday

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But around 20% of startups fail in the first year, over 50% by year 5

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Cuban says save enough money to cover at least 6 months of living expenses before quitting

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Some experts recommend having 12 months of savings as a cushion

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Cuban started MicroSolutions after being fired, it nearly failed when an employee embezzled $82k

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All startups face crises, savings helps you survive the inevitable struggles

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Even with savings, success isn't guaranteed - Cuban says you need passion and deep industry expertise

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"Before you quit, save 6 months of expenses, know what you're doing, and maybe you're ready," says Cuban

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