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Warren Buffett said this business manager accomplished something that virtually no one has accomplished, and why aren't more business schools studying this business leader? Add me on Instagram: michellemarki This person raised the bar for what it means to achieve business success and longevity that I'm sure Buffett and Munger are still striving to live up to. Mrs. Rose Blumkin lived to be 104, and she only retired at 103. Buffett shares simple rules from Mrs. B's inspiring success: delight customers and associate with people that will cause you to move in a better path, they will take you so far in life it's hard to believe. Mrs. B founded the Nebraska Furniture Mart in 1937 with $500 (Buffett may have somewhat adjusted for inflation in saying $2500). Berkshire Hathaway acquired a majority stake in Nebraska Furniture Mart in 1983. In the 1984 Berkshire Hathaway Annual Letter, Buffett wrote: "I have been asked by a number of people just what secrets the Blumkins bring to their business. These are not very esoteric. All members of the family: (1) apply themselves with an enthusiasm and energy that would make Ben Franklin and Horatio Alger look like dropouts; (2) define with extraordinary realism their area of special competence and act decisively on all matters within it; (3) ignore even the most enticing propositions failing outside of that area of special competence; and, (4) unfailingly behave in a high-grade manner with everyone they deal with. (Mrs. B boils it down to “sell cheap and tell the truth”.)" "Our evaluation of the integrity of Mrs. B and her family was demonstrated when we purchased 90% of the business: NFM had never had an audit and we did not request one; we did not take an inventory nor verify the receivables; we did not check property titles. We gave Mrs. B a check for $55 million and she gave us her word. That made for an even exchange. You and I are fortunate to be in partnership with the Blumkin family." Rose Blumkin accomplished all this without initially knowing how to read or write. Rose's daughter went to school and then taught her mother English language skills. Mrs. B's credo of "sell cheap, tell the truth, and don't cheat nobody" best summarizes her incredible and enduring success and whose tenacity we can all learn from. Clips cited from Goldman Sachs "Remarks by Warren Buffett," • Remarks by Warren Buffett . CNBC "Warren Buffett on Nebraska Furniture Mart founder Rose Blumkin," • Warren Buffett on Nebraska Furniture Mart ... . Berkshire Hathaway Annual Meetings 1995 and 2018. If you're interested in learning how to take control of your finances and start becoming an investor like Warren Buffett, check out my free PDF guide: https://michellemarki.com/resources/ I look forward to making more investor friends! Please like and subscribe if you learned something or enjoyed my video. Thank you! :) --- Add me: / michellemarki Check out my Blog: https://michellemarki.com --- Disclaimers: This content is for entertainment, information, education purposes only. Michelle is not a financial advisor and is not providing financial, investment, trading, tax advice, or recommendations. Please consult with a professional financial advisor with a fiduciary duty and responsibility if you need help in your situation. All trademarks, logos, and brand names belong to their respective owners.