Entrepreneurship is not really building a product, it's not having an idea, it's not being in the right place at the right time. It's fundamentally company building.

When Steve Jobs and Steve Wozniak created Apple computer in a garage in Palo Alto, it heralded the beginning of the PC revolution that ultimately dealt a death-blow to dozens of older companies.

When blame inevitably arises, the most senior people in the room should repeat this mantra: if a mistake happens, shame on us for making it so easy to make that mistake.

It doesn't matter if you call it a boom or a bubble. The startup business moves in cycles, and what goes up will eventually come down.

Start-up success is not a consequence of good genes or being in the right place at the right time. Success can be engineered by following the right process, which means it can be learned, which means it can be taught.

A solid process lays the foundation for a healthy culture, one where ideas are evaluated by merit and not by job title.

The only person who can put you out of business, in the early days, is yourself.