The fundamentals of business are never going to change, whether it's in another country or the fact that technology comes here.

There's two ways to operate business. Increase sales or reduce costs. There's three ways to deal with a customer.

Acquire a new one, upsell a current one, and make one buy more frequently.

All these things are going to need to be done in any business you have.

Sell one thing. Sell two things. Sell three things.

How did you start? Did you just walk up like this? Does that happen?

I started actually, and I had a little apartment, and I just started inviting people over.

And it was so small, I was like one bedroom.

And it's actually, I agree with you, because sometimes having too much money and too much success, you make a mistake on a larger scale.

The number one reason why small businesses fail is over funding.

That's the one reason. People don't realize that, because I like to use this scenario if you want to open up a cupcake shop

because your grandmother made cupcakes, and they were amazing.

So you go with a $100,000 loan. You haven't sold one cupcake yet.

You open up this beautiful shop. I mean, your staff has cupcake looking hats.

The registers in the shape of a cupcake. The couch is in the shape of a cupcake.

But then you start to find out that you put the cupcake shop in the area where there's a kid next door in a preschool that has a peanut allergy.

They got a square of six miles, right?

Every time a kid in your store sells a cupcake, he steals another one, right?

And you realize that there was a little, little lady in the church about three blocks away.

He was selling cupcakes like crap for the last 10 years.

You now have to close down shop. You have seven years of bad credit.

Nobody's talking to you, and you got to shut low the cupcakes in your backyard.

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