I always reflect and think about the same thing: business is about solving problems. Trying to identify the singular most difficult situation would be doing a disservice to this simple fact: if you are not continuously encountering tough situations as an entrepreneur, and solving them, then you are not really in business. Encountering obstacles and overcoming them is my day-to-day existence.

3 types of business problems:
1) You don't have enough customers
2) You don't keep the customers you have
3) You don't make enough per customer

Figure out which one you're dealing with, put all your resources towards that, and ignore everything/everyone else.

Successful people are not without problems. They're simply people who've learned to solve their problems.

Success is not delivering a feature; success is learning how to solve the customer’s problem.

You don’t achieve happiness by getting rid of your problems – you achieve it by learning from them.

To THINK BIG and to use our talents doesn't mean we won't have difficulties along the way. We will—we all do. How we view those problems determines how we end up. If we choose to see the obstacles in our path as barriers, we stop trying. “We can't win,” we moan. “They won't let us win.”<p>However, if we choose to see the obstacles as hurdles, we can leap over them. Successful people don't have fewer problems. They have determined that nothing will stop them from going forward.<p>Whatever direction we choose, if we can realize that every hurdle we jump strengthens and prepares us for the next one, we're already on the way to success.

most important lesson I learned in business:
delegate things you are good at (not things you are bad at)

Solving large, difficult problems may earn you a reputation for skillful negotiation, but Sun Tzu asserts that this supposed achievement is actually a form of failure, and having true wisdom means preventing difficult problems from arising in the first place. Ironically,

At last, the answer why. The lesson that had been so hard to find, so difficult to learn, came quick and clear and simple. The reason for problems is to overcome them. Why, that’s the very nature of man, I thought, to press past limits, to prove his freedom. It isn’t the challenge that faces us, that determines who we are and what we are becoming, but the way we meet the challenge, whether we toss a match at the wreck or work our way through it, step by step, to freedom.

One of the most interesting things about business to me is that I find so many business men who are willing to try experiments. I should like to tell you about two evenings I spent last winter and the contrast between them. I went one evening to a drawing-room meeting where economists and M.Ps. talked of current affairs, of our present difficulties. It all seemed a little vague to me, did not seem really to come to grips with our problem. The next evening it happened that I went to a dinner of twenty business men who were discussing the question of centralization and decentralization. Each one had something to add from his own experience of the relation of branch firms to the central office, and the other problems included in the subject. There I found L hope for the future. There men were not theorizing or dogmatizing; they were thinking of what they had actually done and they were willing to try new ways the next morning, so to speak. Business, because it gives us the opportunity of trying new roads, of blazing new trails, because, in short, it is pioneer work, pioneer work in the organized relations of human beings, seems to me to offer as thrilling an experience as going into a new country and building railroads over new mountains. For whatever problems we solve in business management may help towards the solution of world problems, since the principles of organization and administration which are discovered as best for business can be applied to government or international relations. Indeed, the solution of world problems must eventually be built up from all the little bits of experience wherever people are consciously trying to solve problems of relation. And this attempt is being made more consciously and deliberately in industry than anywhere else.

Businesses solve problems. Businesses make the world better. There are too many problems for any one person to solve.

Thousands of years ago, it was only kings, pharaohs, and emperors who had the ability to solve large-scale problems. Hundreds of years ago, this power expanded to the industrialists who built our transportation systems and financial institutions. But today, the ability to solve such problems has been thoroughly democratized. Right now, and for the first time ever, a passionate and committed individual has access to the technology, minds, and capital required to take on any challenge. Even better, that individual has good reason to take on such challenges. As we will soon see, the world’s biggest problems are now the world’s biggest business opportunities. This means, for exponential entrepreneurs, finding a significant challenge is a meaningful road to wealth. Ultimately, as I teach at Singularity University (much more on this later), the best way to become a billionaire is to solve a billion-person problem.

Thousands of years ago, it was only kings, pharaohs, and emperors who had the ability to solve large-scale problems. Hundreds of years ago, this power expanded to the industrialists who built our transportation systems and financial institutions. But today, the ability to solve such problems has been thoroughly democratized. Right now, and for the first time ever, a passionate and committed individual has access to the technology, minds, and capital required to take on any challenge. Even better, that individual has good reason to take on such challenges. As we will soon see, the world's biggest problems are now the world's biggest business opportunities. This means, for exponential entrepreneurs, finding a significant challenge is a meaningful road to wealth. Ultimately, as I teach at Singularity University (much more on this later), the best way to become a billionaire is to solve a billion-person problem.

I'm a very lucky guy. I had so many people help me over the years that I never had many problems. If I had a problem, I could sit down with someone and they would explain the problem to me, and the problem become like a baseball game. You're at home plate now, how do you get to first? How do you get to second? How do you get to third? When you get back to home, your problem is solved. That's the way I view the business world, I view it as a baseball game. Once you start thinking the way you've been taught to think over so many years, you have no problems.