In the end, I had to pay $3.3 million dollars to buy back that 90%.

The Godfather was a very unappreciated movie when we were making it. They were very unhappy with it. They didn't like the cast. They didn't like the way I was shooting it. I was always on the verge of getting fired. So it was an extremely nightmarish experience. I had two little kids, and the third one was born during that. We lived in a little apartment, and I was basically frightened that they didn't like it. They had as much as said that, so when it was all over I wasn't at all confident that it was going to be successful, and that I'd ever get another job.

Failure is the most likely outcome of entrepreneurship. Hence there is absolutely nothing wrong with failure. It is the default outcome. Success on the other hand is rare and unpredictable. Very few find it. However what can help entrepreneurs succeed is when an ecosystem learns from failure.

Don't be scared of the ‘what ifs,’ because the truth is, the only failure is not trying. That's the only way you can fail. Trying and having it not work out isn't failure.

In ’91, we were playing Nevada Las Vegas, and they’d won 45 in a row. It was almost like it would be okay to lose. Everybody would say, “Oh, that’s all right.” That, to me, was the biggest obstacle. I was most proud of that game, because, as a leader, I helped my group overcome rationalization at the highest level. When we beat them, and then beat Kansas for the National Championship, everyone was saying, “Boy, you won the National Championship,” but for me, it was amazing because I got over that final hurdle, as a leader and a teacher.

The person who has inspired me my whole life is my Mom, because she taught me commitment. She sacrificed. We weren’t dirt poor, but we weren’t real rich or anything. I would always have what I needed, and when I looked in her closet, she would have two dresses. She taught me to be outside of yourself, to get outside of yourself, and to be committed to somebody. That’s the same thing that I try to teach. Throughout my life, my mom has been the person that I’ve always looked up to. She never went to high school. I remember, in an old Polish way, she said, “Mike, I went to the eighth grade twice because the teacher liked me.” She had great, self-effacing humor, and loved life. I really admire her.