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Part of the challenge of being an entrepreneur, if you're going for a really huge opportunity, is trying to find problems that aren't quite on the radar yet and try to solve those.

Startups are often very undercapitalised, but I found that to be very beneficial because it forces you not to throw money at problems. Instead, you learn all the nuts and bolts of what you're doing and become an expert.

When you start a company, it's more an art than a science because it's totally unknown. Instead of solving high-profile problems, try to solve something that's deeply personal to you. Ideally, if you're an ordinary person and you've just solved your problem, you might have solved the problem for millions of people.

The challenge in a startup is you hit a lot of turbulence, and you want people who understand that it's just turbulence and not a crisis.

All throughout my life I have been deeply immersed in startups, either because I was running one or investing in them or helping them.

The answers to all a startup's challenges are out there. By setting up the right mechanisms for gathering feedback, the road to success can be a less bumpy ride.

The biggest barrier to starting a company isn't ideas, funding or experience. It's excuses.

I casually advise a few young companies, and I'm always surprised when I see them overthinking simple problems, adding too much structure too early, and trying to get formal too soon. Start-ups should embrace their scrappiness, not rush to toss it aside.