Loss of focus is what worried Charlie Munger and me when we contemplate investing in businesses that in general look outstanding. All too often, we've...

Avoid distractions. Nothing kills startups like distractions. The worst type are those that pay money: day jobs, consulting, profitable side-projects....

Don't get demoralized. Though the immediate cause of death in a startup tends to be running out of money, the underlying cause is usually lack of...

Google writes powerful search algorithms; Steinway works wonders with wood; Cisco sniffs out promising new technologies and buys them. Figure out what...

You may know how to design a widget, but not know a thing about running an efficient manufacturing plant. Apple designs and markets its nifty iPods...