Oh Lord, there it is again. The question;" What kind of business should I start?" Incidentially, it has a twin that also sets me off: "What should I specialize in during the second year of my MBA studies?" Sorry, but those are two of the most profoundly upsetting questions anyone can ask - upsetting because the answer should be obvious: Do what turns you on, not what the statistics say is best.

My half-baked reading of history is that we continue to go through these waves of entrepreneurial explosion followed by merger mania and consolidation. Out of that come big sluggish companies that eventually collapse under the weight of what they've created, and are killed off by the next wave of entrepreneurs.

Forget loyalty. Or at least loyalty to one's corporation. Try loyalty to your Rolodex-your network-instead.

It doesn't matter what product or service you're offering; there is unlimited ability to improve the quality of anything.

It's not enough to be close to the customer. You've got to be glued to the customer.

There are few things that will take you further in life, than your ability to make a good presentation.

Champions are pioneers, and pioneers get shot at. The companies that get the most from champions, therefore, are those that have rich support network so their pioneers will flourish. This point is so important it's hard to overstress. No support systems, no champions. No champions, no innovations.