If you have effective competitors, you are doing it wrong
From the FT, Robin Harding
Mr Buffett is completely honest about his desire to reduce competition. He just calls it by a folksy name — “widening the moat”. “I don’t want a business that’s easy for competitors. I want a business with a moat around it with a very valuable castle in the middle,” he said in 2007.He tells Berkshire Hathaway managers to widen their moat every year. The Buffett definition of good management is therefore clear. If you have effective competitors, you are doing it wrong.
Its obviously very difficult to make money if you have competitors. If you have competitors that want to make money perhaps it's possible but if you have competitors that want market share you are doomed.
Buy your competitors if you can't kill them!
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