Kathryn Minshew

When talking to first-time entrepreneurs, I often ask them: 'How do you know that people want your product or service?' As you can expect, the answer is often that they don't yet, but will know once they launch. And they're right. That's why it's critical to launch as quickly as possible so you can get that feedback.

If you're able to arrange a trial period with a new hire, do it. It will give both of you a chance to make sure the position is a good fit - and can help you avoid being in the awkward situation of wanting to fire someone three or four weeks in.

Well, there's no question that the law passed in 1996 was flawed. It deregulated the wholesale market, meaning the price that the utilities had to pay energy companies for power, but not the retail market.