Devoted to Managers and those that seek to improve their management skills

"Too much intelligence and energy is being devoted to scraping the crumbs off the table of capitalism instead of preparing the meal."

The statement by Buffett above was in response to a question: "Do you feel global wealth is being transferred or created?"

Of course the question itself is inflammatory as it assumes there's an either/or situation. The truth is both are happening at the same time.

For us business leaders we need to forget about the crumbs of capitalism people try to always talk about and focus on our job at hand. That's what Buffett is referring to when talking about "preparing the meal." It's preparing that meal that's the most vital, not worrying about the crumbs.

Many media outlets choose to focus on the crumbs of capitalism and attempt to make them look like they're the meal; to make them look like they're what capitalism is all about. That's the reason why there is so much negative coverage in the media about business and capitalism.

For us, we need to keep focused on why our businesses exist: to build value for our customers, workers, partners and investors. The meal is that focus and the execution of that purpose.

Why waste our time and resources on what for the most part is irrelevant? If we take care of the reason for our existence, the so-called crumbs of capitalism will continually diminish.

In other words, focus on creating wealth for everyone involved. Not only wealth as in money, but wealth as in experience and service. Those businesses and leaders disciplining themselves to do this will be wildly successful in their outcomes. Those that choose to focus on other issues will find themselves endlessly floundering in the sea of irrelevance.

We need to use our time and resources for that which matters most. Warren Buffett doesn't confuse the two with Berkshire Hathaway (BRK-A).

Other Buffett Resources:

Wisdom of Warren Buffett

Warren Buffett, investor

Warren Buffett: The trouble with being a legend

Warren Buffett: 'I told you so'

Company growth

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