The US investor Warren Buffett has made headlines recently by the acquisition of a German retailer. The businessperson known as the “Oracle of Omaha” and owner of Berkshire Hathaway, is faithful to a style: “Do not invest in something you cannot understand.”
In addition, the weakness of the euro is understood and this has led him to bet on Europe and its SMEs. However, it has not only made a purchase but aims to expand its portfolio in the German country. Buffett bet a well-known slogan on companies with a strong image and loyal customers. However, what can best contribute Buffett SMEs?
Detlev Louis Motorradvertriebs, a German retailer specializing in apparel and accessories for motorcycles and knows what it means to be part of the ‘collection’ of companies Buffett. Meets a fundamental requirement: the global expansion enjoyed by German SMEs and has attracted both the entrepreneur and investor.
What advice would you give your 85 years as an entrepreneur?
The millionaire austere has experience in the world of business and investment sufficiently successful to transfer their ideas to both a small business owner, as an autonomous, an investor or anyone who needs to find a balance between personal life and professional.
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“The number one rule is not to lose money ever and the second, do not forget rule number one”
With humor, Buffett tells us that risk is not one of your hobbies. Therefore, before investing in a project, although the possibility of something going wrong possible, it is best to bet our capital an idea that works out to 99.9%.
“The time is good business friend and the enemy of the mediocre.”
Take some time to take a step when starting a business, or making a decision is synonymous with business intelligence, i.e. emotions in the stock market are not the best directors, as happens in business. Impulsive, just.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about it, you’ll do things differently.”
Is it worth breaking the rules to reach the finish line before? Eventually, you are caught and there is no turning back. This refers to people who unscrupulously or clumsiness, have sought to highlight or promote market with unethical behavior. The reputation of our company is our reputation.
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“There seems to be some perverse human characteristic by which we like to make things easier, difficult things.”
This last sentence refers to what we mentioned at the beginning, his passion for betting on companies simple business models. The reason? Why invest or support something I do not understand or cannot explain in a sentence? What is new is not bad, bad is convoluted, that business is not successful among potential customers.
Finally, a phrase that sums up a way to behave both within the company and outside it, whatever our role:
“Just do well very few things in your life, provided you do not do too many things wrong.”
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