1. It has to be a business that gives you an emotional high.
2. Try not to go into anything that is labor, inventory, or accounts receivable intensive.
3. Have independent market research done on feasibility of your ideas.
4 . Don't think someone is waiting to steal your idea, it's paranoia.
5. Don't get started on a real business until you have someone (spouse, family member) who will listen to your dreams, sympathize with your failures and applaud your successes.
6. Never involve yourself in any service or product that requires a consumer attitude change.
7. Don't invest your money or time in home run schemes—invest in what you like and know.
8. Find a lifelong mentor as soon as possible. Have him continually play devil's advocate with all of your projects.
9. Make sure you are not just buying yourself a job. Have an exit point or harvest plan to cash out.
10. Do self-awareness training. Find out who you are.
11. Pick a charity (other than a religious one) or a charitable activity where you have nothing to gain, and work at it every year.
12. Do some charitable acts each year in secret (spouse doesn't know).
13. Keep a notepad next to your bed at night—some of your best thoughts will come while you are asleep.
14. Get a week-at-a-glance planner. Each weekend make out a 3x5 notecard of activities you want to accomplish.
15. You don't need to keep 51% to control your company.
16. Find an aggressive banker, lawyer, and CPA, and send them referrals and Christmas presents.
17. Be willing to take major risks, but be aware of risk versus reward. Don't ever even think about taking out bankruptcy.
18. Have someone else do all your serious negotiating for you—you care too much about yourself.
19. Take 5 years + to get through college—take six months or a year and investigate what you really want to
do with your entrepreneurial skills.
20. Remember that you will learn much more from your mistakes and failures than your successes.
21. Trust everyone, but be aware that most people shade the facts and lie part of the time.
22. Expect to be sued—it's normal. Have the attitude that it's the person who's suing that has the problem.
23. Never sue unless there is real estate that can be attached.
24. Expect to become financially independent—do a financial statement on yourself each quarter.
25. Realize that money is power and can be used for great good.
