While the wisdom of Warren Buffet cuts across all industries, the Oracle from
Selling mattresses or computers or paperclips, the business community should heed the advice of the most successful value investor of all time: Invest when others are running for cover; think long-term, re-energize and capitalize solid companies while others make excuses, lose focus and settle for second best. That was the second lesson I learned: Continue to invest in your company's value to customers, build your community, and be consistent in marketing the company's core values to its customers.
Leeds has always been inspired by Buffet's words and has followed his actions without the benefits of formal higher education: "For me, there was no
My third lesson was to shut out the naysayers in the public forum: "With negative headlines bombarding the media daily, it's voices like Warren Buffet who continue to hammer away at those timeless core values that has allowed our company, and its employees and brand ambassadors, to thrive. And clearly Berkshire Hathaway numbers speak for themselves over the decades."
Alice Schroeder's book, "Snowball: Warren Buffet and The Business of Life," the only biography ever written with the full approval of Mr. Buffett, is imperative reading for entrepreneurs and college students embarking on their business careers. The lessons in this book have never been more important for this country's future.
For Neil, another lesson learned was the importance Buffet placed on money as a means to a greater end, that companies are really just ways to give back to the community, and to build something bigger than the entrepreneurs who founded them: "Warren Buffet has consistently discussed the importance of building a profitable business by concentrating on value, frugality, community, charity and personal character."
These days, it's easy to lose faith and go negative, to take the easy, unethical way out. It would be wise to ask the single most successful investor in American history: 'What Would Buffet Do?'
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About Leeds Mattress Stores, Inc.
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Dear Mr. Buffett: What An Investor Learns 1,269 Miles From Wall Street by Janet M. Tavakoli
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