If the business were a play, Act One is: Woohoo, bright and bushy-tailed. We're going to make something great! Act Two is: We're six months behind on back-end development. We're trying to raise venture capital. We're trying to figure out what furniture we should sell to make payroll.

Working on the right thing is probably more important than working hard.

A lot is gained through experience, but experience teaches some and not others. Effectiveness and excellence, whether or not they were attained by simply having the knack or through the school of hard knocks, is really what you want to reward.

We don't have meetings unless absolutely necessary.

It's about doing things that you haven't done before, where you're still kind of a beginner, and not resting on your laurels.

Entrepreneurs need to start building today. The barrier to entry in tech is low, so start designing, start coding it, launch it, build prototypes, build a working version of it. The Internet has amazing powers of distribution. You can test your ideas. You can see if it works, if it doesn't work, whether it's fun, and whether you're sufficiently motivated. People who go into entrepreneurship to get rich aren't going to be happy. It’s the building of things that makes you happy. You have to enjoy the process whether you succeed or fail.

It's the building of things that makes you happy. You have to enjoy the process whether you succeed or fail.