Warren Buffett’s 4-Word Secret to Business Success

From Warren Buffett's annual shareholder letter, here's a gem:

“Buy commodities, sell brands” has long been a formula for business success. It has produced enormous and sustained profits for Coca-Cola since 1886 and Wrigley since 1891. On a smaller scale, we have enjoyed good fortune with this approach at See’s Candy since we purchased it 40 years ago.

It's that simple. Buy a cheap good, create a brand around it, sell it for more. Voila!

Via www.businessinsider.com