"You have to believe in something bigger than the business you are trying to address," says Eucalyptus CEO Mårten Mickos. In this clip, Mickos explains why the foundation of an entrepreneurial mindset is a belief system that not only requires a belief in big ideas, but includes believing in oneself and working with others that believe in you. 

Square and Twitter Co-Founder Jack Dorsey describes the experience of having the right idea, but at the wrong time. In 2000, Dorsey had early ideas on how individuals could share updates across networks. He shares a humorous story of first trying out his idea on the original Blackberry device, while visiting San Francisco's Golden Gate Park. 

Hiring employees who can meet deadlines and that are willing to work with customers is more important than hiring for pure intelligence, says Jessica Mah, co-founder of inDinero. In this conversation with entrepreneur Steve Blank, Mah discusses the challenges first time entrepreneurs face when hiring and firing employees. 

Idealab Founder and CEO Bill Gross articulates two organizational ways his company develops motivation. The first is to ensure employees working on a new spin-off venture each have a true equity stake in the startup company. The second is to encourage risk-taking at Idealab through the company's willingness to shut down unsuccessful projects with no negative impact to employees. According to Gross, "If you really want to have some breakthrough new thing, you can't have someone worrying about their job being on the line, for trying something bold and new."  

Serial entrepreneur Phil Libin believes now is 'the best time in the history of the universe" to start a new company. The Evernote CEO argues that today we live in a geek meritocracy where great products are king. He encourages entrepreneurs to take advantage of modern distribution tools such as app stores, social conversations, free-mium economics, and smart phone technology. 

Susan Desmond-Hellmann, chancellor of UCSF, identifies traits that appear over and over again in successful entrepreneurs. The first trait is a relentless tenacity mixed with optimism, a quality she describes as being like "a dog on a bone." The other critical trait is not being afraid to be embarrassed. According to Desmond-Hellmann, risk-taking entrepreneurs make choices others may find embarrassing, but entrepreneurs must continue to follow their own path.