Buffett on Business (No, I Mean Jimmy)
March 5, 2010
Lately, I’ve been thinking I could use a sage. So I started reading Warren Buffett’s bio. By any measure, Warren Buffett’s a guy that’s Done Well. Even after the recession jacked him for $25 billion, his net worth is still somewhere around $37 billion. In Omaha, that’s enough get you a pretty nice place.
I’m enjoying the book, so far, because I’ve always had a ton of respect for Warren Buffett’s guiding principles: discipline, prudence, patience, etc.
But goddamn. I just don’t think I’m cut out to live that kind of life.
I need to find me a new sage.
Looking over a list of the filthy rich, though, I’m hard pressed to find other candidates that match my, um, sensibilities (not to mention my rickety skill set). But then… there was my new business sage… waving down at me from one of his bazillion planes that he pilots all around the freaking Caribbean. The boozier Buffett: Jimmy.
Now just stick with me here. Dig:
- Jimmy Buffett owns or has licensing/partnership deals with: the Margaritaville restaurant chain, the Cheeseburger in Paradise chain, Landshark Lager, Mailboat Records, Radio Margaritaville on XM, a whole slew of Margaritaville products (tequila, blenders and grills, food, shoes, etc.), and a Margaritaville casino that’s under construction.
- He’s written a ton of books, including three #1 NYT best sellers, both fiction and non-fiction (one of only seven authors to do so, along with Ernest Hemingway, John Steinbeck, William Styron, Irving Wallace, Dr. Seuss and Mitch Albom.)
- And oh yeah, he also plays music.
But this isn’t about music. This is about business. And I think there’s some things to be learned from the Oracle of Key West.
1) Realize your thing isn’t necessarily The Thing.
Every business has a thing that makes it go, right? A core product or service that drives the entire concept. But as often as not, what you think is The Thing ends up not being the thing at all.
To wit: In the world of music, you might think musical ability is The Thing you need for a long successful career (just humor me, geez!). But Buffett says he knew, from the start, that he wasn’t the best singer or guitar player.
So he set his sights on becoming the best entertainer. Something that required thinking beyond the music. And that’s what lead, eventually, to his Thing: Jimmy Buffett – mayor of Margaritaville.
Suddenly the songs aren’t the engine anymore. The larger idea is the engine. The songs are just fuel to keep the engine running.
You could say the same thing for the Grateful Dead. Or Google. Search is the thing, right? Nuh uh. Highly targeted ad placement is the thing. If Google hadn’t capitalized on that, well, they’d be AltaVista.
Seems lots of potentially viable companies have cratered because they never really understood what their thing was. And lots of potentially viable people never lived up to their potential either. Figure out The Thing, Your Thing, and bigger better things ensue.
2) Do What You Love
Say what you want about Jimmy Buffett, but when he says he likes boat drinks it’s hard not to believe the guy. That’s because he’s doing what he loves. He’s passionate about it and passion’s contagious. Easier sung than done, I know. Especially when the day job includes flip-flopping through your own tequila factory.
But here’s an important note: The header above isn’t “Love What You Do.”
It’s “Do What You Love.”
Big difference. “Love What You Do” is a noble goal that involves, at times, an ass-ton of rationalization. As in, “Yeah, this situation is okay. I kinda like it and I’m gonna make the most of it.” And, of course, you should make the most of every situation you’re in. Try your best to love what you do.
Or you can do what you love – something that, in theory, should be easier to pull off. Of course, it’s the “getting paid to do what you love” part that gets dicey. The things we love usually don’t line right up along traditional business models.
But every game has its angles. By any standard of measurement, the Jimmy Buffett empire makes no sense at all. Yet it worked. Just a dude playing the angles and doing what he loves. If it hadn’t have taken off for him the way it did, I suspect he’d be just fine playing Duval Street for drinks.
3) Tour Your Ass Off
According to the Jimmy Buffet wiki page, he’s done 33 tours since 1976. And almost a decade worth of shows prior to then. That’s getting yourself, your thing, in front of a lot of people.
If there’s one thing Planet Propaganda has always been horrible at, it’s getting out there. Meeting people and making connections and sharing what we do. And just as important, learning what others do. I’m not even talking about networking here, which seems loaded with ulterior motives. I’m talking about plain old getting out and saying hello. Letting ourselves become part of a larger fabric, be it Madison, the national design community, or whatever. It’s something we’ve made a concerted effort to do more of in 2010. Truly successful businesses don’t exist in a vacuum. They just don’t.
——————————————-
Clearly Jimmy Buffett doesn’t have to tour anymore. Why? Because he figured out his Thing long ago, and he’s stuck to it since. He’s shared it with the world and, as a result, he’s prospered spiritually (I assume) and financially (without question).
The dude is 63 years old now and he’s cranking it up for another tour in 2010. Because he loves it. And while I’m sure Warren loves what he’s doing too, when it comes to the Buffetts, I’m sticking with Jimmy from here on out.
Tour of Planet Propaganda HQ
February 27, 2010
Yes kids, this is what’s possible with an iTelephone and an absolute lack of planning and forethought!
Cabin Fever & The Drum
February 19, 2010
We’ve been prepping this week for a meeting with our client Vasque. As you’d suspect, this entails much talk about trail running, hiking, and backpacking. Searching for an old file, I came across something I once wrote about the draw of the outdoors. Reading it again, combined with the amazing weather here lately, has given me an overwhelming case of Cabin Fever. I figure I can’t be alone, so if you’re similarly inflicted, here is The Drum.
—————————
Let me tell you about the drum.
I know you’ve heard it. Quietly at first and then louder, it tells you that it’s time…time to get outside and untangle yourself. It’s hard to resist. After all, it’s the drum that pulls the salmon upstream. And it’s the drum, too, that draws the bear. Together, full of violence and grace, they dance the dance of the Kodiak and the King. And long after they’re gone the rhythm continues, tumbling toward the sea.
I know you’ve heard it because I’ve seen you out there: following the cairns and the currents to the wild places in your heart. You see, we’re not all that different you and I. I know what it’s like to dance to the drum. I know the importance of unlearning patterns.
So let’s go where the drum takes us: away from the clockwatchers and the death rattle of routine. Let’s ditch the phones and the fluorescent lights and start over. Let’s be simple again.
We can focus on beach and sea and sky. We can touch and taste and move and live with passion. And we can rediscover that our capacity to howl is complemented by our right to remain silent.
Let’s be simple again.
Of course, let’s also be clear. Mother Nature is an abusive parent. We need to be ready for her whitewater, her black ice and her bitter grey days. Like you, I’ve seen my own mortality in the gurgle of a buried bow. I know the tedium of many miles traveled and the mistakes that ensue.
In those situations, the drum alone won’t save you. You’ll need gear.
Let’s face it, your gear is your means. It’s what gets you from here to there. And then, when you’re good and ready, it gets you back again. If it’s lighter you move faster, if it’s stronger you stop less. End of story. Because Nature doesn’t conform to specifications. She measures herself in the vague rhythms of wind and water, the sway of a limb, the cycles of the sun. Our gear just helps us claim our place within it all.
So let’s go. We can push ourselves harder than ever before. And then we’ll make a fire and rest our bodies and passionately do nothing in the dying light of day.
I can hear the drum.
Come with me.
Let’s be simple again.
Presenting: The Planet Tech Reel
February 15, 2010
In some way, shape, or form, all companies are tech companies these days. With that in mind, we just completed a new reel of our work that focuses on the technology behind the products. We did the music too, by the way, which sounds especially nifty with headphones. Okay!
