Warren Buffett doesn’t need an introduction, he is one of the best financial investors we have ever had, he investment lessons can not only teach you about money but also about how business and marketing works. Here are some of the marketing and business lessons we can learn from Mr.Buffett.
1. Maintain the good reputation
It is rightly said by Buffett that “It takes 20 years to build a good reputation but takes only 5 minutes to destroy it”, so be very careful about your reputation. We all know that this implies to marketing the brands too as the image is important to all brands irrespective of their scales, and a good brand image is made my doing constant work in right direction.
2. Know your target better than anything
A friend of mine spent 20 years looking for the perfect woman, unfortunately, when he found her he discovered that she was looking for the perfect match.
This is a saying by Warren Buffett, yeah it is comical but it still holds the truth. A maximum number of times we don’t really know the perfect target on which we should work on.
3. Be persistent
Persistence is a great quality to have which helped Buffett in achieving huge successes, while doing any business or following a marketing strategy we tend to lose patience, if we know we are on the right path we should persist with our idea.
4. Take risks
Everyone wants to make money, that too within quick time, to do that we need to take risks in life that are only beneficial when you know what you are doing. So do take risks in business and marketing but those should be very calculated and put the value of things in front of money that you are thinking about to risk for.
5. Keep an eye on your debts
In the era of credit cards and loans, we should keep an eye on our debts as interests will never allow us to become rich and we won’t be able to take those crucial risks if we have a debt. If you are debt-free start working on saving some money that can help you in future.
There are still a lot of things we can learn from Warren Buffett, do share tips that helped you in successful business and marketing profession.
