by Chas Bonner
An Icon: Warren Buffet
One might logically ask, “Why is an agricultural blog discussing Warren Buffett?”
Perhaps it is because he is not only an icon for investment strategy and performance, but he is also an example of simplicity, frugality, directness, and basic American values. From these types of people we can learn much.
For Instance:
- When Buffett has annual meetings, in explaining investment performance he does not fill the speech with numbers and complicated jargon. He uses those numbers simply to support an underlying point.
- He uses many analogies and metaphors to explain, and more importantly, to improve recall of listeners (and they usually add levity to the conversation).
- He is very open, very honest, and forthright. He exudes the stereotype of mid-American values---still living in the same Omaha home he owned in the 1950’s.
- His audience invariably leaves with a warm feeling “in the gut,” wanting to remain with him and his organization.
The analogy to agriculture is obvious. We too have mid-American values, we want openness and transparency, we want our instructions or suggestions to be recalled, and we all like repeat business. It is always cheaper and more rewarding to retain a customer than create a new one. And a long-time customer is invariably a friend.
Every one of our growers or ranchers has many contacts throughout the year, on the employee side, the supplier side, the customer side, and the family side. All of Buffett’s ideals can be incorporated at virtually every step. We hope to do the same at Scythe & Spade.
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