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Some entrepreneurs talk of a high burn rate, high advertising rate, and so on, with no outcome, so it doesn't impress me. But an entrepreneur who has that kind of a feeling of responsibility towards his investors is somebody who will have all my support.

The most successful entrepreneurs in the world have a combination of the right type of personality and fortunate life circumstance. A lot of them have been doing it most of their life.

Most entrepreneurs are merely technicians with an entrepreneurial seizure. Most entrepreneurs fail because you are working IN your business rather than ON your business.

Most startup entrepreneurs unnecessarily spend half their time and give up half their equity in search of funding from angel investors and venture capitalists. Tens of millions of dollars are available to them for free from partners who not only don't want their equity, they don't even want to be paid back.

When most people hit failure, they give up, but good entrepreneurs simply treat failure as a learning experience and use it to fuel and inform their next move.

Entrepreneurs are risk takers, willing to roll the dice with their money or reputation on the line in support of an idea or enterprise. They willingly assume responsibility for the success or failure of a venture and are answerable for all its facets.

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.

The most successful entrepreneurs tell you they have a great team. Lots of small-business owners let ego get in the way. Many people helped me along the way. You've got to remember the people who were loyal to you, and don't forget them when you become successful.

The attributes for entrepreneurs cut both ways. You need the ability to ignore inconvenient facts and see the world as it should be and not as it is. This inspires people to take huge leaps of faith. But this blindness to facts can be a liability, too. The characteristics that help entrepreneurs succeed can also lead to their failure.

Good entrepreneurs are community builders, actively involved with their communities and dedicated to the community's well being. If you're dedicated to your community, it will be dedicated to you.