I have seen entrepreneurs ask for hundreds of millions of dollars on a concept and try to sell because of 'their passion' for an idea. If the idea is that good, why wouldn't I cut you out and hire someone who is just as passionate for much, much less?

People must be realistic when evaluating their business.

I did something rather innovative that my competitors didn't like: I took out a full-page advertisement in the Yellow Pages that listed an office on the east side of Cincinnati, and another office on the west side, while every other heating/air-conditioning company had only one location and one phone number. I was the citywide company. In fact, our 'westside office' was just an answering service taking telephone message. From the start we appeared to be a big company.

I understand that finance can be very complex.

By definition startups usually do not turn a profit.

One of the big problems entrepreneurs run into is they get too comfortable.

Ive spent over 25 years in the television industry, the direct response industry. I met a lot of people and certainly learned the power of commercials and their brand building potential.