Buffett knew that no matter what move he made he would always have his critics.
One of the things Warren Buffett decided when he was a young man was to not pay attention to what other people thought of him in the decisions he made, as he knew no matter what he did there's always someone out there that would disagree with him.
He said this in regard to that:
“The important thing is to keep playing, to play against weak opponents and to play for big stakes.”
What I think is particularly important is the idea to "keep playing." So many in business leadership and management try far too hard to please people and the media to the detriment of their businesses. They spend more time fixing endless leaks than steering the ship.
A lot of business leaders and managers think it's right to take care of every attack upon their company in order took keep a sterling reputation. While we must address serious and unfair attacks that could really damage the company, it's impossible to take care of all the swipes made by people with too much time on their hands. We could never take care of them all without hurting our business.
The answer is to keep playing, to keep on focus and purpose, while handling those things that could do serious damage if we let them fester and grow.
Think in terms of all those weekend quarterbacks that love to dissect and discuss how their favorite sports teams performed, and how the coaches were brilliant or failed. This is a game that many observers of business also like to play, and we need to understand this is simply part of the process.
To get overly concerned and quit playing the game by second guessing many things we do because of the chatter going around the various media platforms is a huge mistake.
Warren Buffett in a number of circumstances has resisted the idea of getting off track by engaging these concerns in an overt fashion. Rather he makes simple statements and leaves things at that. It has obviously worked for him and Berkshire Hathaway (NYSE:BRK-A) through the years, and it'll work for us as well.
Other Buffett Resources:
MSU students have special visit with billionaire Warren Buffett
Sticking to what you know Core businesses
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