Of course, a lot of businesses want to reach students, so I funded the magazine by selling advertising. I sold something like $8,000 worth of advertising for the first edition, and that was in 1966. I printed up 50,000 copies, and I didn't even have to charge for them on the newsstand because my costs were already covered.

Give your employees a mission that matches their ambitions. When you challenge people, they surprise you.

Look for the best in people to build a fantastic team

When employees tell you about their good ideas for the business, don't limit your response to asking questions, taking notes and following up. If you can, ask those people to lead their projects and take responsibility for them. From those experiences, they will then have built the confidence to take on more and you can take a further step back.

I am prepared to try anything once.

My people are at the core of everything I do, and I recognize the importance of giving them the flexibility to balance work around their personal lives.

When you are ready to make your first hires, look for people who understand your passion, want to add to your ideas and can envision ways to make improvements.