Jerry Kaplan, serial entrepreneur, executive, technical innovator, and author, elaborates on the five biggest mistakes that entrepreneurs make: 1) Having unclear goals and an unclear mission 2) Trying to prove that they are smart 3) Greed - doing it for money. 4) Hiring people that they like rather than people that they need. 5) Not knowing when to let go. Source : http://edcorner.stanford.edu

Larry Page, co-founder of Google, reveals that basic research and good ideas are the key components to creating a tremendous opportunity in the tech market. A lot of new knowledge is being created all the time and much of it can be used as the foundation for innovation. Source : http://edcorner.stanford.edu

Fiorina explains that leadership is about three things: capability, collaboration and character. She stresses the importance of capability, which is about asking questions and listening to answers. It is also about celebrating new ideas and taking initiative to try new things. She insists that a continuous learning process is important to strengthen an entrepreneur's capability. Source : http://edcorner.stanford.edu

Kawasaki's viewpoint is not one shared by the majority of venture capitalists. Kawasaki sees the best candidates for a successful start-up are young engineers with no business experience.

Kawasaki believes there are some lessons one should learn before becoming a venture capitalist or entrepreneur. One thing to avoid is the "Morgan Stanley disease." Investment banking isn't the best way to learn those important lessons -- instead join the sales team of a large company and learn from the bottom up.

Kawasaki believes that often soul mates are found within your existing social network, but there is danger in that as well. Close relationships outside of a business environment can lead to promising more than can be delivered. Kawasaki explains that it is a tricky process, and can be difficult if a soul mate is not fulfilling their duties.

If a product or services is worthwhile, then evangelists will come to you, says Kawasaki. He believes that if you are having a hard time finding someone to spread the message about your product, then you may need to re-evaluate your product or your goals. Build something great, and the evangelists will be there.

Kawasaki talks about two examples of early-stage funding, bootstrapping and venture capital, and the benefits and drawbacks of both. Ultimately, he believes that too much money is worse than not enough money, and that both methods can be successful of a smart approach is taken with the funds that are received.

Kawasaki shares some of the qualities that he believes entrepreneurs, and everyone else, should have. In order to be a mensch, a person who is widely respected and trusted, one should help those who cannot be helpful in return, do the right thing in the right way, and pay back to society.

There are typical ways to approach sales, but Kawasaki has three other ideas. These include the unintended users, allowing test drives, and the suck down theory - chances are the CEO is not going to be the one buying your product, but rather the people at lower levels.