"Protect and preserve your core customers," he [Jim Sinegal, cofounder and CEO of Costco] told our marketing team when I invited him to speak to us. "The cost of losing your core customers and trying to get them back during a down economy will be much greater than the cost of investing in them and trying to keep them."

Whenever I see someone carrying a cup of coffee from a Starbucks competitor, whether it’s an independent coffee shop or a fast-food chain, I take their decision not to come to Starbucks personally. I wonder what I, as Starbucks’ chairman and ceo, might have done to keep them away and what I might do to encourage them to come back or to try us for the first time.

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So when some refer to Starbucks' coffee as an affordable luxury, I think to myself, Maybe so. But more accurate, I like to think, is that the starbucks experience - personal connection- is an affordable necessity. We are all hungry for community.

And with the right mentor, don't be afraid to expose your vulnerabilities. Admit you don't know what you don't know. When you acknowledge your weaknesses and ask for advice, you'll be surprised how much others will help.

Many of us spent time talking with the men and women who had lived through Katrina, and we heard stories of not only individual sacrifice and loss, but also of neighbors taking care of neighbors. The power of community was so evident in New Orleans.

But my story is as much one of perseverance and drive as it is of talent and luck. I willed it to happen. I took my life in my hands, learned from anyone I could, grabbed what opportunity I could, and molded my success step by step. Fear of failure drove me at first, but as I tackled each challenge, my anxiety was replaced by a growing sense of optimism. Once you overcome seemingly insurmountable obstacles, other hurdles become less daunting.

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At Starbucks 0 as in any business, in any life - there are so many hectic moments during the day when we are simply trying to do the job, trying to put out the fires, trying to solve any number of small problems, that we often lose sight of what it is we're really here to do.

The best ideas are those that create a new mind-set or sense a need before others do, and it takes an astute investor to recognize an idea that not only is ahead of its time but also has long-term prospects.