A Quote by Warren Buffett
If you've got a good enough business, if you have a monopoly newspaper, if you have a network television station - I'm talking of the past - you know, your idiot nephew could run it. And if you've got a really good business, it doesn't make any difference.
Related Quotes
If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference.
I talked to people that I'd done theater with, older actors and stuff. There's a lot of people who go into the business, and they must think they're good, or they wouldn't be in it. Why do you think that you're good enough to go into the business and make money at it? So I really wanted to ask myself that question a lot. Because it was an important kind of thing that I was going to do. I really wanted to do it, I loved it, and I thought that I was good enough that I could make money at it. And that's really what it came down to.
So some guy may know how to make money in cocoa beans, but I don't so I just let him have that. But it's got to be something I understand. It's got to be a business with fundamentally good economics. It's got to be a management that I like and trust and admire. And it's got to be a price that makes sense.
There is a terrible thing that's been happening probably for the last 20 years or so and it's called the music business. And music isn't really business; it's work and you got to pay and you've got to buy your guitar or go into the studio. So there is a business side but when people say, "I'm going into the music business," it's not. It's about expression. It's about creativity. You don't join music, in my mind, to make money. You join it because it's in you; it's in your blood stream.
There are a lot of things that make players really good coaches. Whether you've played in the NBA or not, there are certain things you have to master and be really good at. They just have to be gifted in these areas. You've got to be competent. Secondly, you've got to be able to communicate. You can have a picture in your mind on how to score but if you can't communicate it, if you can't teach it, what good is it? You've got to be brutally honest and be a man of strong character and then you've got to have class. They've got to respect you.
If the technology hadn't changed, they [newspapers] would still be great businesses. Network TV [in its heyday], anyone could run and do well. If Tom Murphy as running it, you'd do very well, but even your idiot nephew could do well. Fortunately, carbide cutting tools [such as those made by Iscar] don't have these types of substitutes.
I can't tell anybody else how to run their life or their business, but I really believe I've got a good bead on myself.
Go for a business that any idiot can run - because sooner or later, any idiot probably is going to run it.
I'm really not that rich. I really don't know how I got the reputation of being so loaded. Maybe my business manager started it. But I always say that I'm just rich enough that I don't have to do a television series.
If you own a wonderful business...the best thing to do is keep it. All you're going to do is trade your wonderful business for a whole bunch of cash, which isn't as good as the business, and you got the problem of investing in other businesses, and you probably paid a tax in between. So my advice to anybody who owns a wonderful business is keep it.
I would love to see Mr. (Henry) Ford in there, really. I don't know who started the idea that a President must be a Politician instead of a Business man. A Politician can't run any other kind of business. So there is no reason why he can run the U.S. That's the biggest single business in the World.
If you can make peoples lives a lot better, you've got a really good business.
In a business, you have a vision, and you follow the vision. You have to execute. And then you have to learn how to run a good business. And I think if you look at the characteristics of any successful fashion business, it's all about that.
You know I think if the people who work for a business are proud of the business they work for, they'll work that much harder, and therefore, I think turning your business into a real force for good is good business sense as well.
I never got in this business, in cinema, to make horror movies. They arrived on my doorstep and I got typecast. Which was fine, I enjoy it, but I got into this business to make westerns. And the kind of westerns I used to see, they died. So that didn't work out.
Yes, some banks will only float good companies. But others could not give two hoots if you have a business, a business plan or any business experience.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Elon Musk Quotes
South African
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman