Some people would argue the other side: that the business of business is business, and companies should only be focused on profits. But in today's world, I don't think corporations can only be focused on profits, because they are inextricably linked with the communities that they serve. I do not believe you can be a leader in your industry without being a leader in your community. It's a fundamental shift in how you think about business.

If there wasn't any competition, I'd be very worried, because it would mean we were not doing very well.

Business requires an unbelievable level of resilience inside you, the chokehold on the growth of your business is always the leader, it's always your psychology and your skills - 80% psychology, 20% skills. If you don't have the marketing skills, if you don't have the financial-intelligence skills, if you don't have the recruiting skills, it's really hard for you to lead somebody else if you don't have fundamentally those skills. And so my life is about teaching those skills and helping people change the psychology so that they live out of what's possible, instead of out of their fear.

You must always be able to predict what's next and then have the flexibility to evolve.

Staying relevant is key. When you're telling your story, you better have a modern story to tell. If I was still saying the same story I was saying 10 years ago, it would not be that interesting.

The future of communicating with customers rests in engaging with them through every possible channel: phone, e-mail, chat, Web, and social networks. Customers are discussing a company's products and brand in real time. Companies need to join the conversation.

You need to have a beginner's mind to create bold innovation.