Great companies
Great companies start because the founders want to change the world... not make a fast buck. Guy Kawasaki - American company founder, venture capitalist, author and marketing evangelist (b. 1954), Quotations book 2023
Business
Endurance
Any superiority an investment process may have will only emerge with time, so patience is important. Nick Sleep - British investor and co-founder of Sleep, Zakaria and Company and the IGY Foundation (b. 1968)
Wait
The single most important skill for being a good investor is to be very content with not doing anything for extended periods, and that’s perfectly fine. Mohnish Pabrai – Indian-American businessman, investor, and philanthropist (b. 1964)
Competition as a guide
It is one of the chief tasks of competition to show which plans are false. Friedrich August von Hayek - Austrian economist and social philosopher, Nobel Memorial Prize in economic sciences 1974 (1899-1992), from "Law, legislation and liberty: a new statement of the liberal principles of justice and political economy" (1973), Quotations book 2022
Entrepreneurs
The function of entrepreneurs is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried technological possibility for producing a new commodity or producing an old one in a new way, by opening up a new source of supply of materials or a new outlet for products, by reorganizing an industry and so on. following Joseph Alois Schumpeter -...
Go to the customer
If I don"t go to the customer, my competitor was already there. maxime for successful entrepreneurs - Quotations book 2022
Small and big
The business of business is a lot of little decisions every day mixed up with a few big decisions. Thomas S. "Tom" Murphy Sr. - American broadcast executive, former chair and CEO of Capital Cities Broadcasting/ABC Inc. (1925-2022), Quotations book 2022
Crisis
Bad companies are destroyed by crisis, good companies survive them, great companies are improved by them. Andrew Stephen "Andy" Grove - born András István Gróf, Hungarian-born American businessman, co-founder of Intel (1936-2016), in December 1994, quoted in "Creating the Digital Future: The Secrets of Consistent Innovation at Intel" (1998), Quotations book 2022
Late surprises
As in the case with marriage, business acquisitions often deliver surprise after the "I do’s". Warren Buffett - American value investor, Chairman of Berkshire Hathaway (b. 1930), in his letter to Berkshire Hathaway Shareholders (2016), Quotations book 2022
Two options
The issue is always the same: the government or the market. There is no third solution. Ludwig von Mises - Austrian economist (1881-1973), from "Planned Chaos" (1947)
Master-economist
The master-economist must possess a rare combination of gifts. […] He must understand symbols and speak in words. He must contemplate the particular in terms of the general and touch abstract and concrete in the same flight of thought. He must study the present in the light of the past for the purposes of the future. John Maynard Keynes – British economist and investor (1883-1946), from his...
Worth
It"s almost impossible to overpay the truly extraordinary CEO... but the species is rare. Warren Buffett - American value investor, Chairman of Berkshire Hathaway (b. 1930)
Needle or haystack
People always look for the needle in the haystack. Why not buy the haystack? Fayez Sarofim – Egyptian-born American investor (1929-2022), from the interview "A Lion in Winter" by Andrew Bary ("Barron’s", December 28th, 2013)
Capital allocation
Capital allocation is the CEO"s most important job. William N. Thorndike, Jr. – American writer (*1963), from "The Outsiders - Eight Unconventional CEOs and Their Radically Rational Blueprint for Success" (2012), Quotations book 2021
Complete, do nots top
Entrepreneurs don’t finish when we are tired. We finish when we are done. Robert T. Kiyosaki – American businessman and author (b. 1947), in a facebook message (March 19th, 2013), Quotations book 2021
Long-term invest
A great business at a fair price is superior to a fair business at a great price. Charlie Munger – Vice Chairman of Berkshire Hathaway (1924-2023), Quotations book 2021
See the reward
Everyone can tell you the risk. An entrepreneur can see the reward. Robert T. Kiyosaki – American businessman and author (b. 1947), in a facebook message (January 15th, 2013), Quotations book 2021
Six principles
1. Think one Store at a time. 2. Communicate, communicate, communicate. 3. Keep your ear to the ground. 4. Push responsibility – and authority – down. 5. Force ideas to bubble up. 6. Stay lean, fight bureaucracy. Samuel M. "Sam" Walton - American entrepreneur, founder of Walmart (1918-1992), from "Sam Walton, Made in America: My story" (1992)
Ten maxims
1. Commit to your business. Believe in it more than anyone else. 2. Share your profits with all your associates, and treat them as partners. 3. Motivate your partners. Money and ownership alone aren’t enough. […] Set high goals, encourage competition, and then keep store. 4. Communicate everything you possibly can to your partners. […] Information is power, and the gain you get from...
Entrepreneur
An entrepreneur isn’t someone who owns a business, it’s someone who makes things happen. Timothy "Tim" Ferriss - American entrepreneur and author (b. 1977)