Naveen Jain

What separates sports from entrepreneurism, however, is that in business we constantly have to overcome undefined and unpredictable challenges. Athletes train for specific events and conditions, whereas entrepreneurs generally have little idea what they will encounter along the way.

As a father, I believe that involving children in sports at a young age is generally, a wise proposition. I believe that healthy competition is... well... healthy; that sporting events foster a spirit of teamwork that far surpasses the events themselves; and that active participation keeps children moving and is good for their self-esteem.

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.

Call it the Tiger Mom effect: In the business world today, failure is apparently not an option.

When you experience a failure as a leader, don't hide it - talk about it. Your missed opportunity will encourage others to take risks.

Sometimes we never see what failure is and often fail to recognize it.

In my view, the first requirement for success for an entrepreneur is to dream big. The second aspect that prevents entrepreneurs from succeeding is fear of failure.

Successful entrepreneurs find the balance between listening to their inner voice and staying persistent in driving for success - because sometimes success is waiting right across from the transitional bump that's disguised as failure.

Being a father has been, without a doubt, my greatest source of achievement, pride and inspiration. Fatherhood has taught me about unconditional love, reinforced the importance of giving back and taught me how to be a better person.

Don't let expertise fool you into seeing false boundaries or underestimating those with wild dreams.

I came to the United States in the early '80s and was welcomed with open arms and given the opportunity to pursue my dreams. God has been very kind to us. My family and I are fortunate enough to be successful and we feel a tremendous responsibility and obligation to give back to our great country.

I may have managed to build a successful technology startup that had gone public by the time my three kids hit their 13th birthdays, but don't think that bought my wife and me any special respect from our teenagers.

'Being green' is commendable, but I hope that people don't take too much pride and self-adoration because they shut off the water when they brushed their teeth. The truth of the matter is, conservation alone will do little to save our planet.

In the business world today, failure is apparently not an option. We need to change this attitude toward failure - and celebrate the idea that only by falling on our collective business faces do we learn enough to succeed down the road.

By understanding and harnessing the forces that drive human behavior, you can create a self-sustaining philanthropic effort that reaches millions of people. It begins with an entrepreneurial attitude: take an idea and execute on that idea. If it doesn't work, learn why and build on what you've learned.

Governments take too long to get things done and there are far too many varied interests at stake. If you were starting a business today and needed a partner, you would never choose a large bureaucratic institution like the government.