Never would you guess the family’s leaders dine with Persian princes and European presidents all while driving their simple blue Fords. Remember, your customers and your employees are watching.
Warren Buffet and Charlie Munger made money by using a strategy that passed the test of time. At 97 years old, Munger attributes two things to his success: patience and inversion.
For every IBM, there are 100 Blockbusters. For every General Motors, there are 100 Polaroids. You can bet the leaders in your category will one day be in trouble. You can catch and pass them.
There’s no doubt that great businesses have equally great employees. But they also have their share of Bubba’s, Jim-Bob’s, and Tina-Marie’s. We never talk about those guys. If you ever lost sleep over a dumbass thing an employee did, you probably have a Bubba on your team.