How to Close a Deal Like Warren Buffett: Lessons from the World's Greatest Dealmaker by Tom Searcy & Henry DeVries

Author:Tom Searcy & Henry DeVries [Searcy, Tom]
Language: eng
Format: mobi
Publisher: McGraw-Hill
Published: 2012-10-08T14:00:00+00:00

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WARREN WISDOM 77

You Can’t Hurry Love or Deals

From The Essays of Warren Buffett: “In the search, we adopt the same attitude one might find appropriate in looking for a spouse: It pays to be active, interested, and open-minded, but it does not pay to be in a hurry.”

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Buffett Bonus | On Screening Deals

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Every deal must pencil out in advance. You should be able to explain to others why you are making the deals you are making. The best way to do this is to have a deal filter that you apply to test each deal from the outset. From The Essays of Warren Buffett: “Charlie [Munger] and I frequently get approached about acquisitions that don’t come close to meeting our tests: We’ve found that if you advertise an interest in buying collies, a lot of people will call hoping to sell you their cocker spaniels. A line from a country song expresses our feeling about new ventures, turnarounds, or auction-like sales: ‘When the phone don’t ring, you’ll know it’s me.’”

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