What’s the best advice for a young, first-time CEO?
Get rid of your television
It sounds silly, but you’re going to need every moment of every day, and television is a distraction you can’t afford.
Read business history and biography
Remember the old saw about how good judgment comes from experience, and experience comes from bad judgment? There’s only one substitute for years of experience: learning from the experience of others. Fill every spare moment with reading about others’ experience. Pay particular attention to failure stories; they are even more useful than the wisdom of those who have succeeded.