Answering your questions from the road!

I’m soaking up the LA sunshine with my girlfriends, but I couldn’t resist taking a quick break to answer your burning questions!

I hope you’ll join me live on Friday! If you’ve got a question for our next session, comment below.

Today I’m tackling some of your burning questions about starting a business when the timing doesn’t feel right, standing out in a competitive market, and raising motivated kids when life is comfortable.

1. JENNIFER: I’m 6 months into a contentious divorce and near ready to launch my business. Should I wait until after the divorce is final or launch now and have to fight over it later? The business is only debt on a promissory note from my parents, the only asset is a trademark. It is a niche apparel business.

I’m sorry about the stress of getting through a divorce, and I hope it goes by quickly. There are always more excuses not to start something, but there are also many reasons to take the leap and start something new. So if you feel are emotionally stable enough, don't let the divorce get in the way.

If the value of your business right now is just a trademark and a note that’s owed to your parents, it’s unlikely it’ll be an asset argued over in divorce. You know your ex best, and your attorney can quickly get a read of whether it will unlikely become an issue. Remember that starting any business is just like birthing a baby. It requires an enormous amount time, focus and energy. Think of your business as a means of moving forward from your contentious divorce, and you can use the divorce for momentum to move forward.

2. MARIA: I’m a mom of two, working full-time in healthcare. There is a product idea I have had on my mind for years, and I am finally ready to do something about it. Unfortunately, I just don’t know where to start! What would be my first steps?

Getting started is the hardest part, and by the sound of it you’re ready to get going. As a mother of two, do you have the time and support to be laser sharp on building a business? I was able to build a big business partially because I had no children. I was 46 before having my first child and once I couldn't focus on both and eventually sold my business.

Once you get your business going, be prepared for sibling rivalry! Your kids will need the same attention as they always have, and as your business grows, your team will want the same attention. For me, the conflict pulled at my heart strings nonstop after I had a child. But if you’re ready to hit the ground running, here’s my advice on what's most important.

Make a prototype or 3D drawing of your product idea, so you have something in hand to demonstrate your product. Visuals are key, making it much easier to sell your dream. Take your prototype to the street for customer response to find out if there’s a real need for your product and if customers are actually willing to pay for it. Ask them “Would you buy this? What would you pay?” The idea is to find out what's wrong with your concept and correct it before you produce it. Don’t ask family and friends. The best person to ask is your mother-in-law because she won’t hesitate to tell you all the things wrong with it!

3. Anil: I’m afraid of launching a consulting business as there is lot of competition in the IT market. How do I stand out or validate the idea before a full launch to determine if there is market need?

Having one customer willing to pay is the best proof that you've got a good chance of building a success! The key to marketing yourself is to figure out what makes you exceptional, why someone should choose you over the next guy. Your reasons don't have to be proven or even real, but they have to be convincing. If you’re clear with what you’re selling, you'll market yourself with confidence.

Don't overlook building your presence on social media. Share IT tips, helpful stories, and tricks of the trade that would prove helpful to your future clients. Give away free useful information and you'll start to build trust and credibility before signing your first client.

4. Samuel: What advice would you offer your 21-year-old self, knowing you wanted to pursue entrepreneurship, and what would your first step be, given the knowledge and experience you have gained in today’s world?

The best advice to my younger self would be to trust my gut. You gut is the summation of everything you’ve learned so far, so it's always right. I had 22 menial jobs before I started my business at 23, so I had enough work experience to form a reliable gut but didn't learn to trust it until I turned 30.

Fortunately, my early instincts told me to start my business young and I paid attention! I ignored my left brain that gave me all the logical reasons not to start.

5. NICK: I grew up middle class and now I’m having success in my business. I went to public school, but I’m considering now sending my children to private school. I know they’re going to have a life easier than ours. How would you recommend raising your kids that way they are still hungry to make money and make something for themselves or is that just a misconception that if a kid grows up rich that they’re not as hungry as a middle class or poor child?

Tough question! When you’re poor or lower middle class, you have the advantage of having nothing to lose and nowhere to go but up! You naturally take more risks. Poor kids never had the nice house, Bahamas vacation or fancy car, so you long to have it for yourself. You haven't spent your summers at the beach house or a tennis camp so you dream about what it would be like to experience those things. Instead you’re working summers and take find pride and relief in each paycheck.

We had 10 kids in our family and we all were expected to work early to help out the family. We were allowed to fail and learned to recover on our own because our parents couldn't prop us up. Through our many jobs we learned street smarts. Desire, early work experience and learning to get over failures are some of the advantages poor kids have over rich kids.

I got to raise two "rich kids" and wanted them to feel the same satisfaction and confidence I did. I wanted them to have the same values I have. It's not realistic because their childhood was so different than mine. When you have the means to give your kids everything, it’s tough to teach them the value of a dollar they haven't earned.

I've come to the conclusion that the best a rich parent can do is enjoy the life you’ve been able to give them and let go of your own angst. I’ve also allowed my kids to fail on occasion instead of swooping in to make things easier. I've often insisted they work real jobs in the summer and sometimes after school as I think it's the best way to teach them independence and self-pride.

When Kate held her first job at a local dog groomer in middle school, she grew her confidence and took great pride with each paycheck she brought home. When Tom worked a summer job making cold calls 8 hours a day, he learned how to get over rejection.

So don’t feel bad Nick about sending your kids to private school. They’ll benefit greatly from a good education, and you’ve worked hard to provide that for them! But make sure you let them stumble a bit, and as hard as it may be, don’t swoop in with help the minute the going gets tough. They’ll learn more bouncing back from failure than they could ever learn in a fancy classroom.

Here are a few pictures of what I’ve been up to! Looking forward to seeing you here this Friday.