Naveen Jain

I started off with a company, InfoSpace, with my own funding. The company was listed among the most successful companies and I went on to start Intelius and Moon Express. Now, I focus my time on using the skills of an entrepreneur to solve many of the grand challenges facing us in the areas of education, healthcare, clean water and energy.

How important is failure - yes, failure - to the health of a thriving, innovative business? So important that Ratan Tata, chairman of India's largest corporation, gives an annual award to the employee who comes up with the best idea that failed.

Great entrepreneurs focus intensely on an opportunity where others see nothing. This focus and intensity helps to eliminate wasted effort and distractions. Most companies die from indigestion rather than starvation, i.e., companies suffer from doing too many things at the same time rather than doing too few things very well.

If we live a self-directed, self-motivated, self-centered life, always needing to get our own way, then we're going to be miserable. In fact, many times we believe it's our problems that are making us unhappy when, in reality, it's because we're focused on ourselves!