If you're thinking about starting a company, keep in mind that it's not a 9 to 5 endeavor. "It's your life," said Shahar Nechmad, CEO and founder of Nuconomy. 

Additionally, if there is one lesson every entrepreneur learns, it's get your product out quickly. "We wanted to write the best code," said Shahar. "We should have written damn bad code, but put something out on the Web faster."

In this fast-paced world of innovation online, speed is everything. Successful companies realize this. (Check out RockYou Jia Chen's lessons in related news).

Shahar also talks about how to manage a company while half your employees are in Israel and the other half in the Bay area.