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Work "like you would if you were an owner of the place"

Buffett & Munger2010-05-01videoOpen original ↗

1 chunks · 1,497 chars · 4 speaker-tagged segments

SpeakersWarren2Questioner1Charlie1
[0:00]
QuestionerIf I one day want to apply as a manager with one of the Birchard companies, what qualities are you especially looking for and what do I have to do to become your successor?
WarrenProbably shoot me. The managers of our subsidiaries hire their own people. The number of decisions I have to make about managers are really, really. are really, really few. I make no decisions about who gets hired at Geico or Burlington or Mid-American or anything of the sort. I mean, if they need a CFO, they go out and hire a CFO. Or if they need somebody to run a plant, they go out and hire them themselves. I'm not a very good employment agency. We have 21 people, I think it is, at headquarters, and I made a terrific hire here a few months ago. But that'll take care of me for four or five years. Charlie?
CharlieYeah, there's no indication we'd be particularly good at it either.
WarrenI wasn't going to mention that. But I would say this, if you want, what is interesting to me is that when you find somebody outstanding, boy, do they jump out. I mean, somebody that is thinking about the place the right way, is working extra hard, whatever it may be, there aren't, you don't have that much competition in this world. So in terms of generally advancing within an organization, I think you'd be surprised that how little competition you really have if you start thinking like you would if you were an owner of the place and working like you would if you were an owner of the place. And pretty soon you may be running something.