Warren Buffett and Secrets of Management - 18
I don't think any insights into Warren Buffett could be complete without including the unique story of The Nebraska Furniture Mart and Rose Blumkin and her family.
Buffett had been trying to buy her company for a long time, as it fit into every measure of quality in a company that he desired and admired.
When he finally was able to get her to agree, she threw out the figure she wanted and Buffett responded immediately and made the deal. He trusted her implicitly. Any book about Buffett should tell the story of this incredible business family and venture.
As far as management though, Warren Buffett was asked many times what the secrets to Rose and her family running the business were. In his letter to 
shareholders in 1984, he revealed the for key ideas that made them so successful.
1. Apply themselves with an enthusiasm that would make Ben Franklin and Horatio Alger look like dropouts
The first thing you think of when you read that sentence is that they loved what they did. They had an absolute joy in working the business and helping customers. Not only did they do things with enthusiasm though, but they applied themselves.
When I think of applying and what it really means, it brings enthusiasm into a practical realm. While there's nothing wrong with being enthusiastic (we all need to be), it does need to be brought into practical application. That's what Rose and her family did with terrific results.
Warren says when asked about his attitude toward work that he almost skips to work everyday. He adds that he would do it if he was only making $40 a day. I believe him.
In the next few posts we'll look at the several other keys to Rose Blumkin and her amazing success.
Other Rose Blumkin Sources:
Warren Buffett and the incredible Rose Blumkin
Rose Blumkin: A study of Capitalist Success
Sponsored link: The outsourcing every manager requires - Tampa Locksmith
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