If you make a mistake, don’t spend precious time and energy trying to deny it or point the finger at someone else. Be a leader and own it, then spend your time and energy fixing the problem. As I’ve already noted, start-ups often fail because founders want to be seen as the smartest person in the room, which means not being wrong. Making a mistake is going to happen. None of us is perfect. But the difference between success and failure is how you handle that mistake.

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When you want to turn around a company, make sure that the solution is coming from the inside.

Never allow society to turn you into a person you are not.

Always remember: When government accepts responsibility for people, then people no longer take responsibility for themselves.

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Bankruptcy cleans out the system. What’s wrong with that? South
Korea went through this in the late 1990s. They didn’t have anyone
to bail them out, and they had to go through the pain. Sweden did
it in the early 1990s. Mexico did it. Russia did it. The list goes on
and on. Competent people take over the assets from incompetent
people and rebuild from a solid base. Business has always been survival
of the fittest and Darwinism at its best. After all, this is what capitalism
is all about.

Some causes are worth fighting for, some are worth dying for.

Even the most well-meaning
government policies have unintended consequences that have harmed
the economy. If government policies were today held accountable the way
private businesses are, the scoreboard would say government is failing
to help people...and this is a fact.

When life gives you lemons, order the lobster tail.