[alf]

I should talk about the lessons

From Mom
Buy assets not expenses.

When I turned 16 my mom gave me a pawn shop Rolex she picked up for $500, I turned that gift down and opted for a $300 designer bling bling watch for $300. She made the swap with some disappointment in my immaturity but told me that what I choose was an expense that will be worth nothing in a year, the Rolex is an asset that holds its value and appreciates over time. It took me about a decade to learn that one.

Lessons from Rolex:
Build a brand that consumers love and buy.
Manage your channel well.
Do not compete on Price.
Innovate to increase revenue or decrease cost, not just for innovation sake.
Perception is reality in the marketplace.