As a child I experienced firsthand the severe effects of poverty and illiteracy, especially upon women and children. My parents taught me the importance of education and that it was a key to improving an individual's life.

Great entrepreneurs focus intensely on an opportunity where others see nothing. This focus and intensity helps to eliminate wasted effort and distractions. Most companies die from indigestion rather than starvation, i.e. companies suffer from doing too many things at the same time rather than doing too few things very well.

I grew up poor in India, and there were days when we struggled to find food and other basic necessities. Our mother worked odds and ends jobs to keep the family together and educate us.

We are now living in a fast paced technological era where every skill that we teach our children becomes obsolete in the 10 to 15 years due to exponentially growing technological advances.

How important is failure - yes, failure - to the health of a thriving, innovative business? So important that Ratan Tata, chairman of India's largest corporation, gives an annual award to the employee who comes up with the best idea that failed.

I believe our legacy will be defined by the accomplishments and fearless nature by which our daughters and sons take on the global challenges we face. I also wonder if perhaps the most lasting expression of one's humility lies in our ability to foster and mentor our children.

As a child I experienced firsthand the severe effects of poverty and illiteracy, especially upon women and children. My parents taught me the importance of education and that it was a key to improving an individual's life.