If you could do it again, all over...

It's an inevitable question, though it doesn't seem to have been asked yet.
So here it is:

If you could go back and start again - knowing what you know - what would you have done differently. What would you have focussed on more, what would you have focussed on less, what do you wish you had researched more beforehand, what were the things you never foresaw, both positive and negative.

And I guess the most important componant of this line of line of question would be - if you could go back, knowing what you know, would do actually set up a hostel @ all? (let's hope the answer is no huh?)