2012: New Faces. New Capabilities. Reinvesting.
Warren Buffet's #1 Rule for success is business: Reinvest Your Profits.
Who are we to argue with success? Haviland is very excited to offer new contract manufacturing capabilites to West Michigan. In 2011, we began work on the state-of-the-art pool and spa chemical blending and packaging facilitiy at our Haviland North Facility located in Walker, MI. In 2012, that means that this new facility will free up nearly 100,000 square feet of manufacturing space for our contract manufacturing division. Already our fastest growing division, the newly created floor space gives Haviland opportunities for new business, already planned new equipment and even further expansion.
Haviland's capabilities include; formulation, blending packaging and distribution. Customers have come to depend on unique step-by-step guidance into the contract packaging and private labeling industry. If you’re tired of selling other manufacturers’ products, or you’re interested in having your own company brand, contact Contact Haviland Products today. We package and private label and for thousands of customers, large and small. Take advantage of our R&D, FDA, ORMD, DOT and EPA experience to get you through the complicated hurdles of the private labeling process. We can assist you from label development and bottling sizes to MSDS and trade name registration. The dedicated staff at Haviland will see your ideas go from inspiration to application through our one-of-a-kind M2M process- Molecule to Market. M2M allows your product idea to become market reality.
Hare are Warren Buffet's 10 Rules to Success in Business:
1. Reinvest Your Profits. This makes sense not only in the stock market, but in a small business as well. Entrepreneurs who bleed all the profits out of a business find that they may struggle to grow the business into something larger and more valuable.
2. Be Willing to be Different. Buffet didn’t make his fortune by following the crowd. Instead, he invested when everyone else was panicked, and sold off when everyone else was buying. That strategy always beats the market. Doing what everybody else is doing - the same way they are doing it - is the recipe for becoming average. Nobody pays extra for “average”.
3. Never Suck Your Thumb. After you gather the information you need, make a decision. To Buffet, any time wasted to get to a decision is just “thumb sucking”. Success comes from immediately grabbing every opportunity that you can recognize.
4. Spell out the Deal In Advance. Your bargaining position is never stronger than before you are committed. So, advantage of that opportunity to spell out the details and specifics of any deal before you start. This is especially true when working with friends or family.
5. Watch Small Expenses. In the investment world, this translates into watching not just the returns offered by investment funds, but also the fees charged by the fund managers. This is so true in every aspect of small business and personal finance, as well.
6. Limit What You Borrow. Buffet claims to never have borrowed a significant amount of money. His advice is to remain debt-free, and then save and invest money. This is a very counter-cultural (see #2) contrast to those who preach getting rich using Other People’s Money.
7. Be Persistent. This is an advantage that the small entrepreneur has over larger, more established competitors. Persistence and ingenuity can, and often does win against large odds. If you’ve done your research, taken care of the details, watched your expenses and stayed out of debt, your success through persistence may only be a matter of time.
8. Know When to Quit. Don’t throw good money after bad. Resist the temptation to salvage a bad deal with a last-minute home run.
9. Assess the Risk. Buffet recommends thinking through both the best-case and the worst-case scenarios. This helps clarify the risks and rewards for any venture, which is critical to the decision making process.
10. Know What Success Means. Buffet doesn’t measure success in terms of dollars. As he says, “When you get to my age, you’ll measure your success in life by how many of the people you want to have love you actually do love you.” Here is wisdom.