Your premium brand had better be delivering something special, or it's not going to get the business.
Interpretation
A strong brand must provide unique value to attract customers and succeed in business.
Warren Buffett emphasizes the importance of a premium brand's ability to offer something distinctive and valuable. In today's competitive market, merely having a recognizable brand is not enough; it must also meet customer expectations and provide exceptional experiences or products, otherwise it risks losing business to competitors who deliver better value.
In practice
During a marketing presentation to emphasize the importance of brand value.
I have no views as to where it will be, but the one thing I can tell you is it won't do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money and there will be a lot - and it's a lot - it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.
If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?
Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
I think you should read everything you can. In my case, by the age of 10, I'd read every book in the Omaha public library about investing, some twice. _x000D_ You need to fill your mind with various competing thoughts and decide which make sense.
The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
Oneβs objective should be to get it right, get it quick, get it out and get it over. Your problem wonβt improve with age.
The success [of Mary Kay Inc.] is much, much deeper than just dollars and cents and buildings and assets. The real success of our Company is measured to me in the lives that have been touched and given hope.
Success is never so interesting as struggle
Every business is successful exactly to the extent that it does something others cannot.
The formula is simple - do more of what is working, do less of what isn't, and try on new behaviors to see if they produce better results.
The gear you can't afford is not the barrier keeping you from success. Gear has very little to do with photography.
The thing we found out was, when you get to a Super Bowl, both teams are treated the same, talked about in glowing terms. But when the game is over, only the team that won matters.
Subscribe for the occasional hand-picked quote. No noise.