Warren Buffett and Secrets of Management - 5
When talking about the ability for a manager to focus, we need to not take it as only paying attention to something. While that's obviously necessary, it's only a lower level aspect of focus.
Focusing also involves, much more importantly, an aspect of being single-minded. It's the ability to keep on with your business and it's purpose, in spite of the tempatation to jump on the next "big" thing.
This is more what Buffett looks for when he looks at companies and their management. Do they have the ability and strength of will to stick with what they know, in spite of reports of huge growth in another area?
If you followed Buffett during the big dotcom splurge, he was under tremendous pressure to make a move into that sector. He kept "plodding" along and keeping with what he knew. Analysts were slamming him and business writers making him look like he needed to be put away somewhere and enjoy his retirement. We know who got the last laugh with all that.
Focus is something powerful working within you that refuses to join the latest fad and fashion. It's connected to stability and simplicity. It can be measured, and allows for predictability within the company and a manager.
Understanding and embracing focus will keep a business and management successful over years, while competitors go around chasing every new thing that introduces itself.
Other Warren Buffett Resources:
Buffett: Portrait of an Artist as a Young Man
Sound management
A Finger on the Pulse of Berkshire Hathaway and Warren Buffett
The Warren Buffet CEO: Secrets of the Berkshire Hathaway Managers
Sponsored link: The outsourcing every manager requires - Tampa Locksmith
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