So, the Mars company and Warren Buffett are buying Wrigley for $23 Billion bucks. That's a lot of gum!
I love this deal for what it is NOT: No ultra-complex sub-prime mortgages that will explode in 5 years, no gambling on brand-new untested technology that may or may not be next big thing, no "flavor of the day" celebrity must-have. It's a solid deal because it's about proven, time-tested products and companies.
Warren Buffet is famous for this; he just simply buys stock in companies that he A) understands, and B) believes in. He's become the world's richest man by following that philosophy, so I'm betting this will prove to be another of his smart moves. He likes good companies at a discount, who doesn’t?
Keep that in mind when you're thinking about your own great ideas: Is this something that a potential customer (or investor) can understand, or are there too many complexities to explain it to someone in an elevator?
That's the tricky paradox involved in many entrepreneur success stories; taking a new approach to a proven product or service to give people a familiar & established "widget", but doing it in a way no else had considered before. Many of my ideas have been very simple ones, yet they’ve also turned out to be very lucrative.
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