Warren Buffett may not use social media, but he gets it

I’ve written before about how I think Warren Buffett is a Millennial at heart. And after hearing him speak when I was an intern at The Coca-Cola Company, I respect him enormously and admire him more than any other business man. Now Buffett doesn’t actually use social media. He doesn’t have a Facebook page, a Twitter account or even a blog. He may not know that he “gets” social media, but he does. And I know this because I use one of his quotes to guide how I use and suggest that other people use social media.

Buffett once wisely said, “Be fearful when others are greedy and to be greedy only when others are fearful.” When people at your company are afraid to build an online community to support your customers, tell them they should do it, even if people are fearful it may not work. And similarly, when someone at your company tells you that everyone should be on Twitter sharing news about your brand, be afraid of not being valuable while others are being greedy.

So Buffett may not work in or use social media, but I think his quote is a great social media mantra. Do you agree? If not, what is your social media mantra?