One of the biggest mistakes entrepreneurs make is not understanding the relationship they have with their investors. At times, they confuse VCs with their friends.

The Lean Startup is a process for turning ideas into commercial ventures. Its premise is that startups begin with a series of untested hypotheses. They succeed by getting out of the building, testing those hypotheses and learning by iterating and refining minimal viable products in front of potential customers.

Value Proposition Design is a 'must have' for anyone creating a new venture. It captures the core issues around understanding and finding customer problems and designing and validating potential solutions.

Schools reward their students for a combination of intelligence, perseverance, and hard work - in the classroom and on the playing fields. But these metrics don't help kids understand that great grades are not a pass for a great life.

A major part of being prepared is having a plan. Local calls don't always work in the immediate vicinity of a disaster, so it's important to have an out-of-town contact with whom the entire family can check in.

My foundation is based on helping children, and I hand-pick projects that are close to my heart and home.

My father was a very good golfer and he got me started early. My grandfather played, too. It was just something that the Kroft family did. I kind of grew up on the golf course.

I'm lucky that my family is musical. Music was encouraged. So when I saw Carlos Santana play and decided to really pursue the electric guitar in earnest, it was OK. My parents knew I was going to go for it.