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You will always need more capital than you think, because it will always take you longer to reach profitability than you can imagine.

I keep anywhere between 5-10 percent of my net worth in venture ideas.

Valuations are actually quite simple to grasp. A company is only worth what two acquirers are willing to pay for it. Don't you just need to find that one buyer? If there is only one potential company interested in buying your startup, chances are you won't be hearing the word 'billion' in the offer.

Prove to yourself that your business, in micro-scale at least, creates value. If you believe it, you'll find it that much easier to convince potential investors, partners and employees, too.

What we need to do is run our business. We need to come up with a value prop that is so compelling that customers have to go for it.

An entrepreneur must pitch a potential investor for what the company is worth as well as sell the dream on how much of a profit can be made.

My properties are very good income-producing buildings, so I will have a very good stream of profit even if I can't sell.

My business is the art of balancing the need to make money with the desire to create.

When you are led by values, it doesn't cost your business, it helps your business.

This is my advice to entrepreneurs. It's easy to give up, but believe in your ideas. Surround yourself with people you respect and are smarter than you.