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

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.

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?

There are moments in business and in life when you have to say, "Failure is not an option."

Every great business leader I've ever met, in addition to being very smart, very driven, they have this, 'Why not me? Screw it, I deserve it, let's go.' And if you don't have that, you can't achieve greatness.

I've always managed by walking around. Any CEO or leader who spends the majority of his time in his office is not doing his job.

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.