If succeeding in business was easy, everybody would be doing it. When it comes to running your business, so many of the little details are specific to your goals and industry, but there are some insights and advice that can apply to every entrepreneur.

Legendary entrepreneur and investor Mark Cuban gave a frank and eye-opening interview in 2019 to answer big questions about why businesses fail and what can be done to avoid it. You can watch the entire video below.

Even though the implementation of Cuban’s advice is going to look a little bit different for every business and every business owner, the questions raised in the interview are certainly worth thinking about. Are entrepreneurs born or made? How important are college and classes like accounting, finance, and marketing? As a business owner, what kind of example should you set for your employees regarding the work that needs to be done?

Being a business owner isn’t easy, but there’s no need to make it harder for yourself. Understanding not only the ins and outs of your business and industry but also the broader social and economic impact of entrepreneurship and capitalism as a whole can help smooth the way to your business’s success.