America is the only major country that tries to ascertain who was the first applicant to invent the product or procedure. This may seem fair, but long proceedings to determine precisely when each party conceived an idea result mostly in keeping innovations from hitting the market.

The way you delegate is that first you have to hire people that you really have confidence in. You won't truly let those people feel a sense of autonomy if you don't have confidence in them.

There are people who literally cannot start a project until the deadline is four hours away, even if it's a big one. And those people have a serious problem. My recommendation is set up mini-deadlines. You might say, 'Okay, here's my deadline after three days for this and there's another deadline for that and then a third deadline.

We can't count on the Fed to inject this level of liquidity that we saw last year.

The most important thing is to talk to people that have jobs that you might like and to see what they say the job involves.

Most people get overwhelmed by the insignificant decisions of their lives. I'm urging people to minimize the time spent on these when they're not critical to their most important goals.

I've seen people spend days, if not months, researching and gathering data, but only at the end did they finally figure out what they were really looking for; then they have to redo a lot of stuff. If after a day or so you force yourself to put together your tentative conclusions, then you'll have guidance for the rest of your research.