February 5, 2012

Five Business Lessons I Learned from My Mom, Tammy Kennon, and Her Company, Chenille Appeal

Five Business Lessons Learned

This is my mom.  You've probably read about her but never seen a picture.  She's the same one that would slip notes into my lunches in elementary school telling me how wonderful, intelligent and loved I was. Back in the early days when she and my dad started their company in a two hundred square foot garage, she would work during the day (my sister, Kelsey, and I would help run the machinery) and my dad would come home from his day-job and work the night shift. Today, she and my dad are … [Read more...]

The Strap on my Montblanc Star Chronograph Automatic Broke (Another Lesson in the Time Value of Money)

Montblanc Star Chronograph Automatic Watch

When I was 22 years old, or thereabouts, I bought a Swiss made Montblanc Star Chronograph Automatic stainless steel watch from Borsheim's during the Berkshire Hathaway shareholder meeting.  I wanted something that would last, God willing, for the rest of my life and would remind me of when I was young, just starting out, and successfully building my first businesses and got to hear Warren Buffett and Charlie Munger speak to me as an owner of one of the greatest companies in history.  It was an … [Read more...]

Mental Model: Satisficing

Charlie Munger Mental Models

Satisficing: A psychological and economic phenomenon that results from consumers choosing a product that meets criteria at an adequate level, rather than expending a great deal more time to find a fully optimal solution. Put another way, people are not looking for optimal solutions in their life.  They are looking for a combination of "just good enough" or "better than average" weighted by the total effort or cost expenditure necessary to acquire said solution.  People don't want a better … [Read more...]

What The Rich Really Collect

The Rich Collect Dividends Rents and Royalties

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We Sold a $700 Watch Case to the United Arab Emirates

Triple Burl Wood 9 Pillow Watch Case

When you own businesses, certain orders just make you happy. Of course, you appreciate every one, no matter how small. From time to time, however, there is something about a particular piece of business that just makes you smile. We actually do respectable global business through many of our online businesses. Surprisingly, quite a bit comes from The United Arab Emirates, specifically areas such as Abu Dhabi. Apparently, we just sold a $700 watch to a professional soccer star and are … [Read more...]