You probably know who Warren Buffett is, and I am a fan. While I don’t own any Berkshire-Hathaway stock, my wife is a Realtor at one of their real estate companies. And for many years she was also the chairperson for their charitable foundation in Los Angeles.
It’s from my wife’s position in the charitable foundation that I found out about Shelter To Soldier that gets 100% of the profits from the work I do educating you on how to handle money powerfully so you can donate to the causes that touch your heart.
Getting back to Warren Buffet; in a 16-minute talk he gave to a couple of thousand young people he spoke about two people who started businesses and one that he purchased.
One was a woman who came from Russia and not only could not speak English, she also could not read or write. With $2500 she saved over several years, she started a furniture store that he purchased for $60 million.
The first point he wanted to make is that he buys businesses that become profitable by providing an outstanding experience to their customers. Those customers will come back. They will not remember the price, but they will remember the experience.
While a customer that is treated with rudeness or indifference might still purchase something, however, the experience they remember will stop them from buying from that company ever again.
The second point was that you not only have to delight the customer yourself, but you have to pass it down to those you hire and train if you want to have a thriving, growing, successful, and profitable business.
If your employees feel they are being treated fairly and their views are being heard they can also project that interest in the well-being of your customers.
The third point is to surround yourself with people who are better than you. Seek out people who are examples to you rather than someone you think you need to fix. (This also fits your personal life as well in picking a life partner.)
Adhere to these three points and you will create a thriving and profitable business. And if you want to hear the actual talk, click on this link: Warren Buffett Leaves The Audience SPEECHLESS | One of the Most Inspiring Speeches Ever – YouTube
To Your Prosperity,
Rennie
