My first company failed completely. And it failed at about ten months old. I had about 12 months of savings, so when it failed I was thinking: 'Do I go back to work?' And at that point I believed so deeply in what I was doing that I couldn't imagine anything else other than trying to make this business work.

Sure, it's fun to chat with people with interesting backgrounds who seem to have a passion for your company. But a job interview is not a friendly chat. You need to determine whether candidates, can they really do the job. So ask them to prove it.

Thinking big is only one part of being a successful entrepreneur.

Even your most talented employees have room for growth in some area, and you're doing your employee a disservice if the sum of your review is: 'You're great!' No matter how talented the employee, think of ways he could grow towards the position he might want to hold two, five, or 10 years down the line.

We knew when we started the Daily Muse, we wanted a recruiting-focused business model rather than an advertising-focused one. We felt like publishers were being forced to go to more and more extreme lengths to monetize through advertising.

Most weeks, I work 100-plus hours on TheMuse.com. There are definitions of 'work-life balance' that would say I have none.

Starting a business isn't for everyone, and it's not what you should do if you aren't sure what else to do. It requires thick skin and the willingness to carry a great deal of stress, sometimes alone. It's more often a life of failure than a life of success, and the majority of successes came after a long road of disappointment, and often shame.