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The trend in entrepreneurship is up, but an entrepreneur's ability to hire is down.

Entrepreneurs are misfits to the core. They forge ahead, making their own path and always, always, question the status quo.

Over a 10-year period, 99 out of 100 new entrepreneurs will fail. Only one will be left standing as others get pushed out of the market or burn out from working so hard. It's really sad.

The impact of the downturn is starting to feel very real. House prices and the housing market have been taking the knock for some time and that's affecting people.

It is human nature, especially as we get older, to look for stability in our lives. But if you want to be a successful entrepreneur, you have to fight against that somewhat, as starting a business requires movement. You cannot stay still.

When businesses go through hard times, through down markets, what do they do is they challenge every basic assumption of how they operate. They innovate. They create disruption for a while that leads them to even greater heights when the economy turns around.

Entrepreneurs need to recognize that, especially in the digital domain, they are unlikely to come up with something that is going to be permanently on top, that impermanence and ephemerality is the nature of the beast.

What most entrepreneurs don't understand is that it isn't the economy that bursts a bubble, but investor psychology.

Entrepreneurs are natural problem-solvers, which means that we always have ideas for new businesses popping into our heads. Having a lot of options is great, but sometimes it can be hard to focus on one when you are keen to move onto the next.