While good business ideas are plentiful, many entrepreneurs struggle to understand payroll taxes, health care and other thorny issues… In other words, they don't have the financial literacy to scale their businesses and attract investors.

Truth is the easiest thing to sell.

I've come to learn that my initial investment is more about the person versus the product that I am buying into. I've also learned that I really do enjoy giving worthy people an opportunity of a lifetime.

My mother said, "Money is a great slave but a horrible master." It was her version of a French proverb.

I think a great entrepreneur is learning every day. An entrepreneur is somebody that doesn't take no for an answer - they're going to figure something out. They also take responsibility. They don't blame anybody else. And they're dreamers in one sense but they're also realistic and they take affordable steps when they can.

In entrepreneurship, you decide to give up your day job at the point where either (A) the hobby/new business is at least making some form of ends meet, or (B) you feel that you need to dedicate yourself for a certain amount of time to it and give yourself the last hoorah.

Good grooming is integral, and impeccable style is a must. If you don't look the part, no one will want to give you time or money.