What are the most important qualities that make a successful entrepreneur? The ability to communicate. The ability to express your idea with certainty. That's how you become a leader-even if you are unsure, your ability to explain your vision and your direction is the attribute you need the most. ... Articulate your idea in 90 seconds or less.

Downturns are the best time to start businesses because you develop discipline that's very lean and mean in terms of how to spend money. And those habits serve you very well in good times.

I keep anywhere between 5-10 percent of my net worth in venture ideas.

Money has no grey areas. You either make it or you lose it.

The practical reality of managing cars in the family - I do 36-month leases. I think they're horrible investments. And you want to give them back after their warranty is over.

The road to riches is never straight and narrow. It can be riddled with financial land mines.

I never, ever, ever let emotion get in the way of an investment.