Barnett's presentation 2

The Gary Dickinson Lecture in Business Enterprise

What I What I Learned Learned Before Before

(and After)(and After)I Sold to I Sold to Warren Warren BuffettBuffett

Barnett Helzberg

William Jewell College

April 10, 2007

Tonight’s OutlineTonight’s Outline

Knowing Yourself

KnowingOthers

Knowing the Principles

It All Starts with You:It All Starts with You:Know YourselfKnow Yourself

Focus on YOUR StrengthsTrust Your Gut

It All Starts with You:It All Starts with You:Know YourselfKnow Yourself

Never Be a VictimPark Your Ego

Focus on YOUR StrengthsTrust Your Gut

Then You Involve Then You Involve OthersOthers

IntegrityIntegrity

Perception is RealityPerception is Reality

Then You Involve Then You Involve OthersOthers

High Tech vs. High TouchHigh Tech vs. High Touch

No Cold TurndownsNo Cold Turndowns

Ask the 3 Magic QuestionsAsk the 3 Magic Questions

IntegrityIntegrityPerception is RealityPerception is Reality

1.1. What do you like that I am What do you like that I am doing?doing?

2.2. What do you not like that I What do you not like that I am doing?am doing?

3.3. What would you like me to What would you like me to do that I am not doing?do that I am not doing?

Being listened to is Being listened to is so close to being so close to being loved that most loved that most

people cannot tell people cannot tell the difference.the difference.

Now, Use the Wisdom of Now, Use the Wisdom of Organizations:Organizations:

Know the PrinciplesKnow the Principles

Fail Small - Succeed BIGFail Small - Succeed BIG

Now, Use the Wisdom of Now, Use the Wisdom of Organizations:Organizations:

Know the PrinciplesKnow the Principles

Pick the Right GoalPick the Right GoalAvoid SurprisesAvoid SurprisesTrust EveryoneTrust Everyone

Fail Small - Succeed Fail Small - Succeed BIGBIG

Now, Use the Wisdom of Now, Use the Wisdom of Organizations:Organizations:

Know the PrinciplesKnow the PrinciplesPareto PrinciplePareto Principle

Communicate ExpectationsCommunicate Expectations

Now, Use the Wisdom of Now, Use the Wisdom of Organizations:Organizations:

Know the PrinciplesKnow the Principles

There’s Always an AnswerThere’s Always an Answer

Execution over IdeasExecution over Ideas

A Sense of UrgencyA Sense of Urgency

Pareto PrinciplePareto PrincipleCommunicate ExpectationsCommunicate Expectations

When You Combine…When You Combine…

Knowing Yourself

When You Combine…When You Combine…

KnowingOthers

Knowing Yourself

When You Combine…When You Combine…

Knowing Yourself

KnowingOthers

Knowing the Principles

Knowing Yourself

KnowingOthers

Knowing the Principles

The Successful

You

Questions?Questions?

►The movie Blood Diamond recently The movie Blood Diamond recently raised a lot of questions about the raised a lot of questions about the diamond industry. How has the diamond industry. How has the diamond industry been affected by diamond industry been affected by foreign policy and world events during foreign policy and world events during your career in the industry, and how your career in the industry, and how has the issue of so-called “conflict has the issue of so-called “conflict diamonds” affected your business? diamonds” affected your business?

Questions?Questions?

►What is different about Warren Buffett What is different about Warren Buffett than other business people you’ve than other business people you’ve worked with? worked with?

►When you sold to Warren Buffett, you When you sold to Warren Buffett, you said that you wanted Helzberg said that you wanted Helzberg Diamonds to remain in Kansas City Diamonds to remain in Kansas City because the Midwest is the best place because the Midwest is the best place to do business. What examples can to do business. What examples can you give us of why you believe this to you give us of why you believe this to be true?be true?

Questions?Questions?

►How often do you get approached with How often do you get approached with an opportunity to invest in a new an opportunity to invest in a new business or idea? Do you invest in business or idea? Do you invest in new businesses very often? What new businesses very often? What would be the odds of you investing in a would be the odds of you investing in a new venture founded by a college new venture founded by a college student? student?