Start with the least amount of money possible. Some people say they need a certain amount to start, and I say you need a half of that or a third of that. That gives you the biggest return. If you put all your eggs in one basket, it's harder to adapt when you need to. Unless it's very capital-intensive, you don't need much money.

You have to have a product or service that offers customers a unique advantage over the competition. Some people think it has to be price, but only one person can have the lowest price, and the person with the lowest price isn't necessarily the most successful.

True prosperity isn't something you take from the world: it's something you share with the world.

Start with the least amount of money possible. Some people say they need a certain amount to start, and I say you need a half of that or a third of that. That gives you the biggest return. If you put all your eggs in one basket, it's harder to adapt when you need to. Unless it's very capital-intensive, you don't need much money.

It doesn't matter if you have the greatest product in the world if no one will buy it. Have an idea of where your customers will come from and how to get to them. Partner with blogs and magazines that target that audience. If you partner with them, hopefully you won't have to spend money on advertising.

Try to find if something out there is similar. If it's already being done, now you need to find out if you can do it better or cheaper. If you have a good product and no one's buying, improve it and tweak it.

When I have an idea, I share it with everyone. People say someone will steal my idea, but it's not like I invented something that will replace the toilet. I tell people to get their feedback. Will they buy it, help me improve it, or tell me it's already been done? If someone else is excited, he or she might buy into the business.