‘Managers acting as owners’ is a Warren Buffett prerequisite.

In his observations, management requires superior capital allocation skills, a desire for outstanding performance and a singular focus on lowering costs and improving productivity.

But the grand overlord of management excellence may be fanaticism. Success from obsessive - bordering on unreasonable - entrepreneurs consumed by their business.

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Here’s what it takes as described in ‘Sam Walton: Made in America’:

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This extract from a letter to his store managers illustrates entrepreneur Les Schwab’s intense focus, as described in ‘Pride in Performance, Keep it Going!’

This I vow... WE ARE GOING TO HAVE A SUPER MARKET TIRE STORE IN EVERY TOWN THAT WE HAVE A LES SCHWAB TIRE CENTER. I hate to use threats, it’s against my policy entirely, but you can visualize what is going to happen in your town if...

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