Founders: #279 What I Learned Before I Sold to Warren Buffett

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What I learned from reading What I Learned Before I Sold to Warren Buffett: An Entrepreneur's Guide to Developing a Highly Successful Company by Barnett Helzberg Jr. ---- Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes ---- [5:00] Then, right there on the sidewalk I told one of the most astute businessmen in America why he ought to consider buying our family's 79-year-old jewelry business. "I believe that our company matches your criteria for investment, I said. To which he replied, simply, "Send me the information. It will be confidential.” My conversation with Buffett lasted no more than half a minute. [8:00] My dream buyer for the family business all along was Warren Buffet. [11:00] "This can be the fastest deal in history," Buffett said. "But what about due diligence?" I asked, surprised at how fast the negotiations were moving. Most suitors demand to see every scrap of paper you've ever generated and to interview every top manager. That wasn't Buffett's way. "I can smell these things, Buffett said. "This one smells good.” [12:00] First A Dream by Jim Clayton. (Founders #91) [13:00] Buffett on his management techniq

[00:00:00] As I walked past the Plaza Hotel on a glorious May morning in 1994, I heard someone call out, Warren Buffett! Turning in the direction of the voice, I saw a woman stop Buffett on the sidewalk and start a friendly conversation with him. Buffett listened patiently to the woman, who, as it turned out, was a shareholder of Berkshire Hathaway. At the time, the legendary investor was the second richest man in the United States. As it happened, I was in New York that day to meet with our financial advisors at Morgan Stanley to talk about our company, which at the time operated 143…

Founders: #279 What I Learned Before I Sold to Warren Buffett

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