Warren Buffet’s 3 Commands for CEOs

Warren Buffet is one of the most celebrated and successful investors of all time. Many of his musing has been recorded in books, articles, and posts over the years, especially content taken from his annual shareholder letter. Several of his essays were compiled into the book The Essays of Warren Buffet: Lessons for Corporate America several years ago, providing tremendous content for entrepreneurs.

Warren Buffet has three commands for CEOs at Berkshire’s operating companies, which are especially pertinent for all startup CEOs. The commands, according to the book, are for the CEO to run the business as if:

1. They are its sole owner
2. It is the only asset they hold
3. They can never sell or merge it for a hundred years

Vinod Khosla drove this home yesterday with his post in the NY Times — Vinod Khosla: Maintain the Silicon Valley Vision. The Silicon Vally Vision, according to Khosla, and Buffet’s three commands for CEOs go hand-in-hand with long-term, big picture thinking and actions.

What else? What are your thoughts on Warren Buffett’s three commands for CEOs?