While the wisdom of Warren Buffet cuts across all industries, the Oracle from Omaha has invested in furniture stores around the country
SUN VALLEY, Calif., Feb. 4 /PRNewswire/ -- What does Warren Buffet have in common with a Southern California entrepreneur and now legendary TV commercial personality, Neil Leeds? More than you might think.
According to Neil Leeds, CEO and Founder of the Leeds Mattress Company: "I owe the success of my 25-store chain of Leeds Mattress Stores to the teachings of Warren Buffet, and these times demand more attention and adherence to his wisdom. I'm a life-long alumni of the school of hard knocks and grew up in foster homes and poverty ...quitting school in the 9th grade." For Buffet, there are no shortcuts. No free passes or passive acceptance of mediocrity. "Pick yourself up or nobody will - that was my first lesson from the most famous billionaire in America."
Selling mattresses or computers or paperclips, the business community should heed the advice of the most successful value investor of all time: Invest when others are running for cover; think long-term, re-energize and capitalize solid companies while others make excuses, lose focus and settle for second best. That was the second lesson I learned: Continue to invest in your company's value to customers, build your community, and be consistent in marketing the company's core values to its customers.
Leeds has always been inspired by Buffet's words and has followed his actions without the benefits of formal higher education: "For me, there was no Ivy League parking spot with my name on it. At various tough times over the past 12 years, my reading of Buffet's teachings has been instrumental in staying the course as my company grew from 1 to 25 stores - reaching beyond 100 million in sales since inception - concentrating on value, management, community, customer service, reinvestment, ethics and discipline. And, these principals are in the larger plan to reach 1 billion in sales."
My third lesson was to shut out the naysayers in the public forum: "With negative headlines bombarding the media daily, it's voices like Warren Buffet who continue to hammer away at those timeless core values that has allowed our company, and its employees and brand ambassadors, to thrive. And clearly Berkshire Hathaway numbers speak for themselves over the decades."
Alice Schroeder's book, "Snowball: Warren Buffet and The Business of Life," the only biography ever written with the full approval of Mr. Buffett, is imperative reading for entrepreneurs and college students embarking on their business careers. The lessons in this book have never been more important for this country's future.
For Neil, another lesson learned was the importance Buffet placed on money as a means to a greater end, that companies are really just ways to give back to the community, and to build something bigger than the entrepreneurs who founded them: "Warren Buffet has consistently discussed the importance of building a profitable business by concentrating on value, frugality, community, charity and personal character."
These days, it's easy to lose faith and go negative, to take the easy, unethical way out. It would be wise to ask the single most successful investor in American history: 'What Would Buffet Do?'
For more background information, please visit http://www.leedsmattress.com/default.html.
About Leeds Mattress Stores, Inc.
With more than 25 stores throughout Southern California, Neil G. Leeds has become an iconic figure through his TV commercials, has earned an untarnished reputation as an ethical and successful entrepreneur, and has demonstrated his commitment to dozens of charitable causes and community projects over the years - including Toys for Tots, Mayor of L.A. City Clean Up Day, The American Cancer Society, The American Red Cross and many others. The company continues to emphasize his original core values: providing the best value for customers; keeping the best employees and rewarding them for their efforts; and, treating every customer with respect and fairness.
Media Contacts:
Darren Shuster
Media Representative
Neil G. Leeds and Leeds Mattress Company, Inc.
Phone: (818) 744-1851
E-mail: darren@popculturepr.com
