Guy Kawasaki is known for the concept of evangelism in high-tech businesses and worked as an evangelist for Apple, promoting Macintosh to hardware and software developers. Currently, he is a managing director of Garage Technology Ventures, a venture capital firm focusing on high-technology startups in Silicon Valley. Visit his blog here.

If you had to choose one word to describe the ideal entrepreneur, what would it be and why?

"Lucky" Because so many serendipitous things seem to happen to some entrepreneurs that made them successful that it's mindboggling. For example, if Digital Research hadn't blown off IBM, who knows what would have happened to Microsoft.

To be sure it's good to have smart, honest, and hard-working entrepreneurs too. And maybe luck comes to this type of entrepreneur, but it sure helps to be lucky.

Are there any common mistakes you see entrepreneurs making?

The most common mistake is forecasting. Even the most "conservative" forecast is always too optimistic. Whatever an entrepreneur tells me, I add one year in delivery time and divide sales by a factor of one hundred.

As bootstrapping becomes more and more widespread, what impact do you see this having on Silicon Valley in the long run?

Bootstrapping is "a" way to build a company. It's not the only way--venture capital and angel capital can work too.

However, it is the emotionally purest and psychologically most rewarding way because of the element of "beating the system" and gutting it out.

So the impact on Silicon Valley is good, but a few companies that raise venture capital and produce Google-esque results is good too.