Putting every last penny of your personal savings into your startup is a bad idea....

"That is one of the worst things you can do... take so much risk that you can't think clearly. If you are literally blindly desperate because you are worried that if the business does not work your entire family, house, whatever goes under, you're not going to be in a clear, steady position of power. And that's what you need to be in when you're running a business,"

- Alexa von Tobel is the American founder and CEO of LearnVest.com, a leading financial-planning and lifestyle website. Alexa, a certified financial planner, was recently selected as one of Fortune's Most Powerful Women Entrepreneurs and highlighted in Inc.'s 30 Under 30 list of cool young entrepreneurs. Her company has raised $69 million to date.