Inspiration from Warren Buffett
- Thread starter D2Cat
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I can relate those attitudes to my Kubota dealer. Couple months after my purchase I received a hand written Thank-You note from him....Thanking me for giving their dealership my trust in them! You know where I go for parts, fluids, and more attachments when I need them without question, the best Kubota dealer in my area...in business since 1943 for a reason with generations of family running it.
I will definitely view the video.
But I could not help thinking if everybody succeeded there would be no suckers like me to take advantage of!
Now off to view the video before the kids and grandkids arrive.
edit: inspirational video. Good advice to those who try to go into business. I think luck or being in the right place at the right time plays a big part too. I was never smart enough or inclined to try myself. Way life works…I think I read that new business starts fail at a rate greater than 90 percent in their first two years. Maybe for reasons mentioned in the video.
Last edited:
fried1765
Well-known member
Equipment
Kubota L48 TLB, Ford 1920 FEL, Ford 8N, SCAG Liberty Z, Gravely Pro.
Messick's is an excellent example, but such examples of efficiency and concern are very rare!
While the video gave some good examples, I would like to see people presented that physically produced quality products. It is one thing to buy, sell or rent products but quite a different thing producing things using your hands and mind.
Warren Buffett is a super amazing human. He shares his insights in the Berkshire Hathaway annual letters available for free online. Worth reading in my opinion. An inspiration to many, many people around the world and a great example of what can happen in the USA. God bless America !
I have been in my own business for 49 years, and at one time had 5 stores. I realized that running that many stores were more than I wanted to do, so one by one, as the leases came up, I closed them down. In the end, I had 2 stores and a great clientele, however, poor health forced me to decide which was more important. The answer was to close one and concentrate on the other. Today my wife and I went out to dinner, and it seemed that almost everyone in the restaurant knew my wife (she now runs the store) and she knew all of them by their first name. What Warren said is very true, and my wife practices that philosophy every day of both her public and private life.
Mrs. B (Nebraska furniture mart)
Remember her--I growed up there. Mom and Dad bought quite a bit of furniture from her. Couldn't deal with her though. The price was the price and don't try to dicker with her! Very set in her ways.
and buffet is absolutely right. You treat the customer the way you expect to be treated. Make them feel like they are your friend. Treat them as such. That means sometimes you're gonna have go out out of the way to fix some issue. I've always lived by that, and worked by that. It's led me to success, and I hope and pray that it doesn't change.
I've seen over 200 people come and go, that worked either alongside me or under me. Of those, 4 were worth keeping. They are still working at the same place, which got bought out by a larger investment company when the original owner retired in 2018. This new company's GM is an average boss, and not much more. Old boss (pre buyout) was a man of integrity. Respectable businessman. Always did right. Developed customer relationships like noone I have ever seen. I started when I was 16 as a brat kid who wanted to go play with motorcycles, and was offered a job at a kawasaki dealer so I said shoot yeah I'm game! Test rides!!! Well there was a LOT more to it, and over the 26 years I worked under him, I had times when I was ready to leave, but I also had times when the boss was a total jerk, but at the same time you LEARNED something from that particular experience, he bought you up by letting you do wrong, point out where you did wrong, then 30 minutes worth of butt chewing later, you realized...hey I just learned another skill that will stick with me the rest of my life. You don't see too many of those.
And now, I'm working at a different place, we just hired a guy that washes equipment, sweeps the floors, etc. A floater, if you will. Kid's 17 years old, had a rough childhood. Doesn't talk much. You can tell he's had a rough life, but you can also tell he's very receptive to everything we say. So, myself and my current boss work with him daily, and in the last 2 weeks we've seen him come from walking with his head down all the time, to showing a little pride in sweeping the floors. Exactly the same as I was when I started in June of 1992. I believe in building people up, not tearing them down. customers, coworkers, superiors, friends, family everyone! You accomplish nothing but putting someone down, you accomplish much by helping them.
Remember her--I growed up there. Mom and Dad bought quite a bit of furniture from her. Couldn't deal with her though. The price was the price and don't try to dicker with her! Very set in her ways.
and buffet is absolutely right. You treat the customer the way you expect to be treated. Make them feel like they are your friend. Treat them as such. That means sometimes you're gonna have go out out of the way to fix some issue. I've always lived by that, and worked by that. It's led me to success, and I hope and pray that it doesn't change.
I've seen over 200 people come and go, that worked either alongside me or under me. Of those, 4 were worth keeping. They are still working at the same place, which got bought out by a larger investment company when the original owner retired in 2018. This new company's GM is an average boss, and not much more. Old boss (pre buyout) was a man of integrity. Respectable businessman. Always did right. Developed customer relationships like noone I have ever seen. I started when I was 16 as a brat kid who wanted to go play with motorcycles, and was offered a job at a kawasaki dealer so I said shoot yeah I'm game! Test rides!!! Well there was a LOT more to it, and over the 26 years I worked under him, I had times when I was ready to leave, but I also had times when the boss was a total jerk, but at the same time you LEARNED something from that particular experience, he bought you up by letting you do wrong, point out where you did wrong, then 30 minutes worth of butt chewing later, you realized...hey I just learned another skill that will stick with me the rest of my life. You don't see too many of those.
And now, I'm working at a different place, we just hired a guy that washes equipment, sweeps the floors, etc. A floater, if you will. Kid's 17 years old, had a rough childhood. Doesn't talk much. You can tell he's had a rough life, but you can also tell he's very receptive to everything we say. So, myself and my current boss work with him daily, and in the last 2 weeks we've seen him come from walking with his head down all the time, to showing a little pride in sweeping the floors. Exactly the same as I was when I started in June of 1992. I believe in building people up, not tearing them down. customers, coworkers, superiors, friends, family everyone! You accomplish nothing but putting someone down, you accomplish much by helping them.
There's two ways to have the tallest building in town. You can tear someone else's down, or eat a hotdog for lunch and keep on working!
Lugbolt, you describe Mrs B as not very flexible. Now what would you expect from a person born in Belarus?
I think NFM is now in Omaha, KC, Des Moines, and Dallas. Quite an experience, The KC store is so large is is built so it is flexible and more likely to survive and earthquake. When we were on the second floor I could feel the movement. I asked the sales person what that feeling was and she described it!
Lugbolt, you describe Mrs B as not very flexible. Now what would you expect from a person born in Belarus?
I think NFM is now in Omaha, KC, Des Moines, and Dallas. Quite an experience, The KC store is so large is is built so it is flexible and more likely to survive and earthquake. When we were on the second floor I could feel the movement. I asked the sales person what that feeling was and she described it!
I would like to think it is more than fooling the customer into thinking that they are your friend.
Still being naive at age 74 soon to be 75, I would like to think it is more like, as the business owner, one should be trying to both satisfy the customer (without deception) and to make a reasonable profit at the same time.
Granted...this thought will likely enter the earth with my ashes...probably just one more reason I ended up as just an average guy...
As a service manager, and a part manager, I can attest that working for people, and making them feel like they are friends, works. I didn't say anything about 'fooling' them. People see right through that, almost every single time.
Note that there are some people that grace this earth that feel the same as you do. I worked for many of them. I'd try my best to make them feel like their business is geniuinely appreciated, however they always felt like we were a thorn in their side. Like, I was supposed to give them free work and parts and stuff. Unfortunately a business MUST charge for their goods and/or services in order to stay in business.
On the flip side there are people (and dealers) that genuinely put the dollar ahead of the consumer, and those guys move around a lot (usually). They never stay at one place. They cant' succeed at one place. Really they can't succeed at all with attitudes like that. Sure they can make enough money to buy a couple packs of cigarettes and a few cases of beer, and probably have enough left over on Friday to go visit the adult entertainment district but no matter how much you pay 'em, it is never enough and they're always chasing another dollar so they can buy and use more.
I think your preconceived ideas are entering into your comment. Lugbolt said make them feel like they are your friend. Nothing about a con job there. Do you ever try to make your wife "feel" like you love her?
D
Deleted member 47704
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One of the things I impressed on my kids is that you don't have to be smarter than everyone because most don't even want to do their job. Manners, admitting mistakes, and working as hard as it takes can only get you so far with an awful manager. So, you need a bit of luck.
One thing Buffet said that I subscribe to is that normal people don't need to try to be stock experts. Find a few no fee mutual funds, and you'll do fine. Over the years, I'm now only significantly invested in 3 mutual funds, but of course, they represent a lot of companies in several industries which makes me pretty diversified.
One thing Buffet said that I subscribe to is that normal people don't need to try to be stock experts. Find a few no fee mutual funds, and you'll do fine. Over the years, I'm now only significantly invested in 3 mutual funds, but of course, they represent a lot of companies in several industries which makes me pretty diversified.
Maybe it is just something that is lost communicating with words.
Perhaps trying to make someone think you are their friend and actually being a friend is the same?
Semantics perhaps. I always figured people would know if I was their friend or not. No need to make them feel anything on my part.
I guess that was what I was trying to express. Granted interaction during a business deal is a bit different. But being a sincere person when interacting with others, and letting the chips fall where they may, probably wins in the long term.
And no, I never felt the need, and do not think my wife has either, for me to try to make her feel that I love her. LOL. And the reverse from her to me is the same also.
We bonded for this lifetime. Do you ever feel the need to tell your dominant hand that you love it? That kind of thing…
Now time to evaluate what “preconceived ideas” I hold, and to compare them to general ideas I may have…LOL