How Make Your Fortune In Business

Step 1: Start inside

I'd say, first, start inside rather than outside. So many -- and I teach business school students back in the US and we spend some time with business educators here -- so many young people, the first question they ask is, "What's the hot segment? What's the hot field? What's the hot gizmo and gadget? How can I get a piece of that?"

Step 2: Do something you enjoy

The first question to ask yourself is, what do you care about? What are you passionate about? What makes you tick, and can you make a business out of what makes you tick? Because it's going to be grueling, it's going to be risky, it's going to be demanding, and the best way to succeed at it is to believe that you are somehow or other building a company around ideas and values that are important to you as a person as opposed to "this is what everybody thinks is cool." So start inside before you go outside. That would be one tip.

Step 3: Funding

And the next thing is, once you've figured out your passion or your original idea, the big mistake that entrepreneurs and business students often make is "Okay, where's the money? I need to get funding for this idea, and I need to have a lot of resources in order to make this happen."

Step 4: Getting started

In the case of Mavericks, again, it was about just getting started. In a way the more constrained you are resource-wise, the cheaper you are, the better off you are. If you just get started -- often, given the Internet, you can put your idea or your product out there, you can elicit some response and support from future colleagues, future customers, and get some feedback and refine your idea from the start. So the advice is really: just get started, be cheap, stick to your original principles, and you might be really surprised what could happen.

Bill, Paula, thank you very much indeed. Thank you.