If you know you are giving your best effort, you'll never have any reason for regrets.

If you don't know much about the field, you're able to ask a set of questions that an expert would never ask, and that allows you a very different thought process and a fresh approach.

When your child comes to you at a young age and declares he or she is passionate about this or that, the natural tendency for many parents, out of love, is to simply support that decision. That's the path of least resistance, but it's not necessarily the best path, in my opinion.

Go where your customers take you! For example, did you know that Sony's first product was a rice cooker? Since abandoning the rice cooker, it has merely managed to become the world's biggest consumer electronics company.

If you are passionate about entrepreneurship like I am, you too can instill this passion in your children.

Trust your gut instinct over spreadsheets. There are too many variables in the real world that you simply can't put into a spreadsheet. Spreadsheets spit out results from your inexact assumptions and give you a false sense of security. In most cases, your heart and gut are still your best guide.