Serial Entrepreneur's Four Tips for Starting a Business

Entrepreneur Todd Gabel's eighth-grade teacher had told his mom, "Don't waste your money sending this kid to college." Teacher might have been right. Lured by the money he earned in corporate computer sales, Gabel dropped out of college and started his first company while only in his mid-20s.

Gabel, now 44, runs Toddy Gear, which has created the Toddy, a stylish microfiber cloth sold nationwide that's designed to rid the screens of iPads, iPhones and Droids of fingerprint smudges. A four-time entrepreneur, Gabel has used the lessons learned from each experience to help grow his next venture. Here are his four tips for students looking to start their first business.