When it comes big bucks CEOs, you could not pick a pair more different than Angelo Mozilo and Warren Buffett.
Angelo founded Countrywide Financial, a giant mortgage lender during the last big real estate bubble. His 2nd in command and heir apparent Stan Kurland tried to caution him about over-extending the company’s credit. Angelo ignored him.
Stan left the company with $25 million and formed a rival real estate lender.
You may remember that Countrywide went bust because its CEO would not listen.
His #2 man’s new company did not fail.
In contrast, Warren Buffett has built Berkshire Hathaway into a mega-billion dollar investment holding company.
Much of its success he attributes to his partner Charlie Munger. He calls Charlie his “Abominable No-Man.” Warren appreciates the good ideas Charlie suggests – and the bad ideas he shoots down.
A business owner we know attributes most of his company’s success to his wife and co-owner. He is a dreamer and risk taker. His wife is highly creative but she is a tough-minded realist, too.
She is his Abominable No-Woman.
If you don’t have someone like her, you had better find one. She can save you from your most foolish notions
We share such hard realities in our “Uncover Your Inner Sales Genius” e-book.
Next: Appeal to their emotions.
Copyright 2021, The Bellune Co., Inc.