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" The lesson is, because there will be many lemons in life, to learn to make the proverbial lemonade - and be open and honest. That's the best way of doing damage control and positioning yourself for success. "

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" I advise all of the entrepreneurs that I know to attend at least one entrepreneurship event every week. The worst thing an entrepreneur can do is to confine his or herself to a cubby hole. "

Vivek Wadhwa

Know

Week

Entrepreneur

" An open-minded and diverse population that readily shares information, encourages experimentation, accepts failure and dispenses with formality and hierarchy is what makes Silicon Valley the successful hub that it is. "

" The truth is that entrepreneurship is more like a roller coaster ride than a cruise. "

" Entrepreneurship is like a computer game in which you have to master every level before achieving success. Startups repeatedly stumble and have to go back to the drawing board. The best way to skip some levels and to increase the odds of survival is to learn from others who have already played the game. "

" The best way of dealing with the press, customers, and critics is to come clean when things go wrong and admit when you make a mistake. We are humans, and no one expects us to be perfect. "

" The mentor-mentee relationship is ideally like that of the guru and disciple: motivated by the desire of the guru to impart knowledge to the disciple. "

Vivek Wadhwa

Desire

Knowledge

" Business executives need to start by spelling out and communicating their values. Then they need to lead by example. This means getting rid of the bad apples and declining opportunities that bring instant wealth at the cost of selling one's soul. "

" The IPO is no exit for the entrepreneur; it's the start of purgatory. "

" You have to live in Silicon Valley and hear the horror stories. You go and hang out at the cafes, and you meet entrepreneur after entrepreneur who's struggling, basically - who's had a visa problem who wants to start a company, but they can't start companies. "

" The most valuable lesson I learned in dealing with the ups and downs was to invest in my employees - to do all I could for them when the times were good. "

" I realized that, after tasting entrepreneurship, I had become unfit for the corporate world. There was no turning back. The only regret I had was having wasted my life in the corporate world for so long. "

" If anyone tells you that you're too old to be an entrepreneur or that you have the wrong background, don't listen to them. Go with your gut instincts and pursue your passions. "

" A key ingredient in innovation is the ability to challenge authority and break rules. "

" Corporate executives and business owners need to realize that there can be no compromise when it comes to ethics, and there are no easy shortcuts to success. Ethics need to be carefully sown into the fabric of their companies. "

" Building a company isn't that different from climbing a big mountain. You need people helping you traverse treacherous paths and to lift you up when you fall. "

" Most business schools are geared toward churning out investment bankers and management consultants. "

" What you want in a mentor is someone who truly cares for you and who will look after your interests and not just their own. When you do come across the right person to mentor you, start by showing them that the time they spend with you is worthwhile. "

" Hiring foreigners is more expensive and more difficult than hiring locals, because of the visa fees and long lead times for visa processing. And companies face a backlash by anti-immigrant groups for hiring foreigners. So they do it only because they have to. "

" No matter how well things are going, failure and disaster are just around the corner. So celebrate the good, but be ready for the bad. "

" In my first company, Seer Technologies, where I was chief technology officer, we shied away from the media. We watched every word and were guarded in front of journalists. "

" Most successful entrepreneurs share their knowledge as a way of giving back. They do not demand compensation. Those who do are usually trying to take advantage of you. "

" A key to achieving success is to assemble a strong and stable management team. "

" Innovation is all about people. Innovation thrives when the population is diverse, accepting and willing to cooperate. "

" When I start getting embroiled in heated debates and feeling stressed, I just turn everything off and disconnect from the world. I simply tell my colleagues and friends that I am not well and need to cancel all meetings for a day or more. I take it easy - go for a long hike, take a vacation somewhere, or just stay at home and read. "