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My two biggest lessons learned as a trader are take risks and get comfortable with taking losses and setbacks to help move you forward.

You need to understand the market, know how you can differentiate yourself in it, and grasp the price and the functional differentiation competitive points that are going to allow you to be disruptive.

Stay the course.

You have to be careful to react when you start to deviate from your course.

I prefer leaving things to the market as much as possible.

You've got to figure out how you're going to come in and significantly impact and redefine a market such that you become a market share leader in it.

The most important thing is to be passionate and ready to accept the pains that sometimes go along with the business.

In college, I was told the market can't be beat.

You have no control over the market. You can't predict where it will go, and you can't bring it back from the depths. What you can do is save more. Make sure you have cash on hand - an emergency fund of at least six months of expenses.

In business, you try to minimise risk.