Society can't wait. It's sad there are so many entrepreneurs, business successes and venture capitalists who give no thought to society.

I was very lucky to find a career which let me travel, sourcing stores in other countries, just the opportunities of the career in design and finance and all the things that make retailing - my career - interesting to me. That's why I started looking at community responsibility. I felt I should give of myself.

"What would people say about you when you're gone?" That to me was a very important question. I thought about that for a couple of years and said, "What people say about you when you're gone doesn't matter. You're gone." What really matters is, "What do you say about yourself in the here and now? Are you proud of what you're doing?" If you had a short lease and it ended today, or it ends tomorrow, what would you wish you would have done? You better do it.

My view is that everything begins with the customer. If you know the customer, then you can match the merchandise and then you can market it. The marketing is kind of the icing. The foundation is the cake. That's the merchandise. Then the question is, "Do the customers want cake, or do they want cupcakes or donuts. What is it?"

The risk of failure is a very personal thing. One of the quotes I like, I think this came from the famous basketball coach from California - John Wooden - is that, "Successful people - winners - do everything necessary to prepare to win, without the certainty of winning." Everybody would do everything necessary to prepare to win if winning was a certainty. So you're willing to put yourself out publicly and privately and say, "I'm going to do this."

As an entrepreneur, you work out solutions.

The foundation of leadership is your own moral compass. I think the best quality leaders really know where their moral compass is. They get it out when they are making decisions. It's their guide. But not only do you have to have a moral compass and take it out of your pocket, it has to have a true north.