Warren Buffett reveals his number one piece of advice to anyone starting a new business

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Warren Buffett has one piece of advice to anyone starting a new business.

He gave that advice to a group of small business entrepreneurs at the 20th graduation of the Goldman Sachs "10,000 Small Businesses" program:

"Tomorrow morning when you look in the mirror after you've gotten up, just write — in lipstick or whatever you want, on the mirror — just put: Delight my customer," Buffett said.

"Not satisfy my customer, delight my customer."

He pointed to Amazon founder Jeff Bezos as a "classic example" of an entrepreneur who has always focused on delighting customers.

"Any business that has delighted customers has a salesforce out there that you don't have to pay, you don't see them, but they're talking to people all the time," Buffett said.

"Whenever I bought my last car — a few years ago — I don't remember how much I paid, but I remember the experience I had."

Buffett's own Berkshire Hathaway started as a small company and over the course of the last five decades has grown to a market capitalization of $350 billion.

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