The only thing I hated about the agency business was a lot of business travel. It was the only part of my job that I did not like. I found it very tedious and wearing.

When I looked into the mechanics of being a businessman, I found it wasn't rocket science.

The best bosses understand the people working for them. That's the first component: what makes my people tick? What are they in it for?

The failure-dichotomy principle: failure is good. Failure is not an option. Balance those in your brain.

The only thing I hated about the agency business was a lot of business travel. It was the only part of my job that I did not like. I found it very tedious and wearing.

There are agencies who are good losers, places where losing is not only accepted, it becomes part of the culture, it is expected. That is debilitating. Don't let that happen to you. At Deutsch we go into every pitch assuming we are the Yankees. It's amazing what happens when you go into a room of smart, hungry people and say, "Failure is not an option." People are galvanized.

My philosophy is to always find the smartest people you can. Hire people smarter than you.