Profiles of Success: Barnett Helzberg Jr.

You may know the stores – Helzburg Diamonds. Under Barnett Helzberg Jr.’s leadership, from 1962 to 1995, the family owned chain grew from 30 to 143 stores; its per store sales were double the industry average; and they earned a sterling reputation as ‘the Nordstroms of jewelry stores.’ Which led to the company being bought by the legendary Warren Buffet!

In his book WHAT I LEARNED BEFORE I SOLD TO WARREN BUFFET, Helzberg lays out a set of principles for developing a fast-growing business. His management advice begins with concerning yourself only with the “controllables”, a way to focus and concentrate on the aspects of your business where you can have the greatest impact.

Important ideas from Helzberg: “Each activity you undertake exacts the price of not being able to pursue alternative activities – sometimes called ‘opportunity cost.’…Peter Drucker calls it ‘feeding problems and starving opportunities’.

So the question you should be asking yourself: Is what I am doing right now bringing me closer to my objective than any alternate activity I could be doing?