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“The way you communicate with your employees is crucial. You should talk with them and hear their concerns rather than simply being a manager who tells them what to do. You want to inspire them so they want to accomplish something.”
“Entrepreneurial spirit is powerful. Even in large companies, you should let managers have some degree of ownership so, like entrepreneurs, they can develop and grow their parts of business.”
Ralph Schey says that he measures his success by “the people who I’ve inspired to do something that makes them successful. And when somebody recognizes what I did to mentor them, to get them to do something that they may not have done, and they come back and say, ‘I appreciate it,’ I feel very good about that.”
“What drives an entrepreneur is to be in control of his destiny, and to do something better than anyone else can do it….The entrepreneurial opportunity is more than just making money and creating user satisfaction with a superior product of superior value. Opportunity is manifested in changing people’s lives and envisioned.”
“When we were a public company, of the roughly 200 working days a year, we probably spent at least 50 of them outside of the company, talking to public relations people, investor relations people, investment people, and others like that. We don’t do that anymore, so we have more time to concentrate on growing the business.”
Warren Buffett when talk about Ralph Schey says, “The reasons for Ralph’s success are not complicated. Ben Graham taught me 45 years ago that in investing it is not necessary to do extraordinary things to get extraordinary results. In later life, I have been surprised to find that this statement holds true in business management as well. What a manager must do is handle the basics well and not get diverted. That’s precisely Ralph’s formula. He establishes the right goals and never forgets what he set out to do. On the personal side, Ralph is a joy to work with. He’s forthright about problems and is self-confident without being self-important.”
“The way you communicate with your employees is crucial. You should talk with them and hear their concerns rather than simply being a manager who tells them what to do. You want to inspire them so they want to accomplish something.”
