Who better tell you on how to succeed in business than a billionaire? More so if that billionaire is one of the most successful entrepreneurs in the world, along as being one of the richest – even richer than Donald Trump.
Warren Buffet, the legendary investor dubbed as the “Oracle of Omaha” is known for his many successful ventures and investments. The good news is he wants to pass his knowledge to you, because like a self-help book selling you a dream, he wants YOU to be RICH.
Speaking to a group of small business owners, Buffet shared arguably his best business advice yet. At the 20th Graduation of Goldman Sachs’, about 10,000 small business owners was in attendance and was addressed by the wealthy investor, Yahoo! Finance reported.
So What’s It All About Mate?
The essence of his advice is simple, “Delight your customer.”
His full quote said, “Tomorrow morning when you look in the mirror after you’ve gotten up, just write — or just put it in lipstick or whatever you want — ‘delight my customer’ not ‘satisfy my customer.’ ‘Delight my customer.’”
Buffet continued that all business, which has delighted customers, has a salesforce that owners don’t have to pay for. Although it cannot be seen, these delighted customers talk to other people all the time — creating a sort of “word of mouth” marketing.
To capitalise his point, the Oracle of Omaha told the story of the time he bought his car as an example. He remembered that he does not anymore remmeber how much he paid for his car, but remembered the experience of buying it.
Buffet said, “Your customer is going to get to vote, going to talk, and you want them out there as salesmen for you and they will be if you delight them.”
Furthermore, he cited other successful businessmen as an example and named Jeff Bezos, the founder of Amazon. According to Buffet, Bezos started his now-successful business in his garage during his early 30s.
Buffet said that the Amazon founder delighted his customers every day by providing them low prices, with fast delivery – basically whatever it takes to please them.
He concluded by saying that today, Bezos still applies the same concept: How to delight his customers.
Just by employing these three words, you WILL make your business grow. As they say in the business, “The customer is the lifeblood of every business” so it’s dead obvious that they are of utmost importance, so always keep them happy – and then some.
If you don’t believe us, then maybe you’ll belief Warren Buffet because that philosophy continues to work for him to the tune of $63.3 Billion.
