Better to have bad news that's true than good news we made up

If we do not know who the customer is, we do not know what quality is.

We must learn what customers really want, not what they say they want or what we think they should want.

If your goal is to make money, becoming an entrepreneur is a sucker's bet. Sure, some entrepreneurs make a lot of money, but if you calculate the amount of stress-inducing work and time it takes and multiply that by the low likelihood of success and eventual payoff, it is not a great way to get rich.

At IMVU, we opened up our board meetings to the whole company.

The biggest start-up successes - from Henry Ford to Bill Gates to Mark Zuckerberg - were pioneered by people from solidly middle-class backgrounds. These founders were not wealthy when they began. They were hungry for success, but knew they had a solid support system to fall back on if they failed.

A pivot is a change in strategy without a change in vision.