1.Invest in what they know
2.Don’t buy companies with bad managers
3.Recognize the limits of their knowledge
4.Have gumption and patience
What is the secret that allows people to stay in a partnership for decades? Where does the staying power originate?
Warren and Charlie are like an electric railroad system.
- The parallel rails or tracks represent their like-minded tendencies.
- They receive their power from the third rail which represents their values, beliefs and attitudes.
- The train and its cars represent the corporate goals.
Stay with me… What happens if Warren and Charlie start to grow in different directions?
- If they no longer see eye to eye, the train may derail.
- If one party abandons their shared belief system or values, they lose power!
- The lack of like-mindedness forces seaparation from the source of power, the third rail.
- Eventually, the system (company) will lose momentum and the goals are not reached
It’s the third rail that has been a vehicle for these guys to intentionally build their culture and power base.
Take some time to think about your relationships. Where does the binding power originate? How much more can you accomplish when you have intentionally created a “like-minded” environment?
“Building relationships is hard work; however, it’s easier to stay in long-term relationships when you share the same core values.”
– Rod Sullivan
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