{"id":1666,"date":"2013-01-06T21:00:43","date_gmt":"2013-01-07T05:00:43","guid":{"rendered":"https:\/\/masonmyers.com\/?p=1666"},"modified":"2015-01-28T12:58:42","modified_gmt":"2015-01-28T20:58:42","slug":"investment-productivity-tools-business","status":"publish","type":"post","link":"https:\/\/masonmyers.com\/investment-productivity-tools-business\/","title":{"rendered":"Golden Age of Productivity Tools for Business — a Good Investment"},"content":{"rendered":"

Productivity tools are expanding at an incredible pace all around us.\u00a0 These tools\u00a0are particularly relevant for smaller business owners to understand and a good investment of time and money.\u00a0 This struck me while being\u00a0told a story a few months ago by the proprietor of Borsheim’s jewelry store that is owned by Warren Buffett’s Berkshire Hathaway and is said to have more sales than every jewelry store in America except for Tiffany’s in New York.\"\"<\/a><\/p>\n

At last year’s Berkshire Hathaway annual meeting, some visitors came to Borsheim’s that only spoke Chinese and various sales people and managers were not communicating effectively with them.\u00a0 This went through several rounds of people trying to help them to no avail.\u00a0 Finally, the proprietor decided to attempt to help them and was no more effective.\u00a0\u00a0He was about to bid them goodbye sadly, as it was apparent the\u00a0potential customers were ready to buy.\u00a0 It was then that he remembered the Google Translate app on his phone and started using it to communicate.\u00a0 The eyes of the potential customers lit up and after a few minutes of communication, they settled on a purchase of several hundred thousand dollars.\u00a0 As the proprietor told me, “That sale would never have happened without that app.”<\/em><\/p>\n

It is a new world with an abundance of productivity tools.\u00a0 While it takes an investment\u00a0of time and money to find tools that work well for you, it pays off big time when you find good tools.\u00a0 Also, at my investment fund Greybull Stewardship<\/a>, we are investing in productivity tools and looking for more.\u00a0 In particular, these two investments are helping businesses be more efficient<\/p>\n