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Warren Buffett – Advice for Entrepreneurs – THE BEST IS YET TO COME

THE BEST IS YET TO COME

Warren Bufffet shares 2 examples of people he met during his career – that highlights the importance of CUSTOMER SERVICE and the Importance of having great people in your TEAM

Rose Bumpkin – an immigrant – that could not speak english and spent the first 20 years of her life working to educate her children and save enough money to bring her siblings to USA, built a furniture store with a $2500 loan and no further equity to a turnover of $!.5b

and

Jack Taylor – who started his business with $25k and built Enterprise

It starts with a Dream, a Determination to succeed and a total focus on the customer.

The gems 

1. Its all about the customer

2. You need to have an amazing team that is looked after, is passionate and understands the value of customer service – you cannot do it alone

Its all about the customer 

  • you need a genuine desire to delight the customer 
  • to wow the customer
  • you want that customer to succeed 

What goes through the customers mind? Its where they had the great experience that they will remember and refer

If the customer  has a good or bad experience in the store or transaction online – They will remember how they were treated. The Customer Experience is key (CX) or User experience in the App World (UX)

If you have an experience where the personnel was rude and not great – you are not going to want to go back.


Delight your customers

Your Team 

Delight them through other people – your team.

Look after your team…. you need to multiply yourself through other people.

Your key is to surround yourself with people better than you are – starting with your spouse, teachers, friends, employees, mentors

look for the people that are examples for you, learn from them

Associate with people that will take you on a better path

FIND THE RIGHT TEAM AND LOOK AFTER THEM 

These Gems, together with a dream and a determination to succeed took Rose Bumpkin into a $1.5b turnover business with a  total capital $2500 and Jack Taylor who built Enterprise with very little equity invested into a conglomerate bigger than Hertz, Avis and Budget together. 

Posted on August 31, 2019

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