I feel like I'm part of history being made. I leave Apple board meetings thinking, 'I've got to do a better job.'

Women are clearly the major consumers in far more than just female categories. It doesn't matter whether it is purchases of cars, cosmetics, or even products for men, female consumption power is the leading consumption power in the world. Any company that overlooks the woman as the decision maker is making a huge mistake.

We also never undercut representatives' prices. A representative will always be able to sell the discounts in our core business, which are not offered at retail. So it's never more advantageous to buy there.

I became CEO at the beginning of the hit on old economy stocks. When something like that occurs in your first six months as a CEO of a more traditional branded firm, it makes for a fast learning curve.

The game in beauty is changing so much, if your product isn't high tech or can't make a unique performance claim - plump your lips, reduce your lines, look glossy, and stay on for 24 hours - you can't go to market today. I'm not just talking about a $20 lipstick, but a $5 lipstick!

I think there is a big and significant difference between being a leader and being a manager-leaders lead from the heart. You have to be analytical and flexible. Flexibility is one of the key ingredients to being successful. If you feel like it's difficult to change, you will probably have a harder time succeeding.

Talent is the No. 1 priority for a CEO. You think it's about vision and strategy, but you have to get the right people first.