But we have to ask ourselves, what's the purpose of the stock market? It's supposed to be a source of capital for growing business. It's lost that purpose.

It would have been easy to judge effort by how many hours a day passed while I was at work. That's the worst way to measure effort. Effort is measured by setting goals and getting results.

You never quite know in business if what you are doing is the right or the wrong thing. Unfortunately, by the time you know the answer, someone has beaten you to it and you are out of business.

Never follow your dreams. Follow your effort. It's not about what you can dream of. That's easy. It's about whether or not it's important enough to you to do the work to be ready to be successful in that business.

On the Internet, there are an unlimited number of competitors. Anybody with a Flip camera is your competition. What makes it even worse is that YouTube is willing to subsidize the cost of your bandwidth. So anybody can create and distribute for free basically, but the real cost is marketing. And that's always the big cost - how do you stand out and what's the cost of standing out? And there's no limit to that cost.

Sales is the most important aspect of a company, which in turn is about how well you treat your customer and stay ahead of your customer's requirements.

The one thing in life you can control is your effort. Are there any shortcuts in the beauty business? No. That was the first lesson I learned. You can't just rocket to the top.