Column : Entrepreneurship amid crisis

Sell at an economic price: The customer’s money is the best money—try and get some of it. In an age of abundant venture capital we often forget this. Great companies are capital efficient—internal accruals are the best way to fund growth. You need to sell your stuff at a price at which you are making money. If you are unable to do that, it means that you do not have a compelling enough value proposition for the customer.

Build great teams: Great companies are built by high quality teams. Get on board great people who believe in the cause. And share the wealth. There is nothing that motivates good people as much as ownership in the company.

Get lucky: Most successful entrepreneurs will admit that while they worked hard and worked smart, they also benefited from a couple of lucky breaks. If luck is often about being at the right place at the right time, then the message is that you have to be in enough places enough times. Work hard and persist. You will get your breaks.

So stay focused, and good luck for 2013.