Bear with me as I share a bit of my history that helped me create SkyVu and the Battle Bears games. The University of Nebraska gave me my first job after college. I mostly pushed TV carts around, edited videos for professors or the occasional speaker event. One day, Warren Buffet came to campus to speak to the College of Business. I didn’t think much of this speech at the time but I saved it for some reason. 15 years later, as a founder of my own company, I watch and listen to this particular speech every year to remind myself of the fundamentals and values Mr. Buffett looks for. He’s addressing business students at his alma mater, so I think his style here is a bit more ‘close to home’ than in his other speeches. Hopefully many of you find great value in this video like I have. Sorry for the VHS flickering line on the right side.
Here are my take aways:
- Accounting is the language of business.
- For founders, nothing can beat painting your own painting.
- Apply the "Newspaper Test" to all your decisions.
- Know and take care of your Durable Competitive Advantage.
- Choose your heroes carefully because you will become them.
- You are your children's natural hero, embrace that role.