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After his keynote in Boston at ACCM on Tuesday, an audience member asked Leon Gorman, L.L. Bean's chairman and former president, what his late grandfather would have thought of the mega business his namesake company had become.

"I don't think L.L. would be comfortable in a business where he could not make every decision and have to delegate -- but he would be proud of the company's reputation," said Gorman, who recently wrote "L.L. Bean: The Making of an American Icon."

The Freeport, ME-based cataloger and retailer has always been a "values based company," Gorman told the audience, stressing that "a brand is more than just a logo."

For a company starting up today, Gorman said the key is to have a clear vision of what you want to be the venture to become.

And you must learn to roll with the punches. When Bean founded the business in 1912, one of his first products was, of course, the legendary Bean Boot. Out of the first 100 pairs sold, 90 were returned as defective.

He learned from that experience and moved forward, vowing in the future to only sell fully tested items; offer superb and personalized customer service; treat the customers with respect and build their trust; and be true to the company's outdoor heritage.