When you're starting a new business, you don't need to know much about it. A lot of the work is blocking and tackling - it's the same type of stuff no matter what sector you're in.

Success doesn't necessarily come from breakthrough innovation but from flawless execution. A great strategy alone won't win a game or a battle; the win comes from basic blocking and tackling.

It is always great to see technology leaders like Ginni Rometty, Marissa Mayer, and Meg Whitman breaking through as a new generation of leaders.

In the business world today, failure is apparently not an option. We need to change this attitude toward failure - and celebrate the idea that only by falling on our collective business faces do we learn enough to succeed down the road.

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.

Money is a very fundamental ingredient in anyone starting up a new business.