Like many in the advisory profession, I’ve immersed myself in Warren Buffett’s teachings.
While the kids binge Netflix or watch TikTok, you will find me on YouTube watching a Berkshire Hathaway annual meeting or one of the Oracle of Omaha’s interviews or lectures.
His teachings contain gold nuggets on business and life.
But what about advisor marketing and practice growth?
What actionable insights can be drawn from the wisdom of Warren?
Q4 2022 hedge fund letters, conferences and more
Here are my five golden rules of marketing from Warren Buffett.
1. Build a defensible moat around your clients
Warren Buffett has often said an excellent business or investment has a defensible moat around it.
A wide, defensible moat gives a business a competitive advantage to maintain pricing power and better-than-average profit margins.
For advisors, this means cultivating a loyal client base that is not sensitive to fees, avails itself of your full range of services, and refers solid prospects.