Business Advice from John Pappajohn 

• "I've made my money by being the first in markets. As a venture capitalist, you have to seek out the cutting-edge companies. You get in as early as possible. That way you make a lot more headway and profits."

• "You certainly don't make any money by being involved with mundane companies. What you do is develop a technology and then license it. That's why I'm working with the University of Iowa and Iowa State."

• "Excuses don't count. Actions speaks louder than words."

• "I want to give a lot of money away. That's a main part of why I'm still working. The best way I can meet my philanthropic goals is tokeep putting together good deals."

• "I've always felt life has been generous, and my philosophy has been to give back much of what I received. The logical place for me was where I got my education."

• "I've always had a dream, and this dream was to help Iowa become the most entrepreneurial state in the country. We have a great working mentality. Now all we need to do is improve our skills and have access to more capital."

• "You can't be right all the time, but you can surround yourself with honest people."