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New York, NY--Karen Goracke, CEO of Borsheims, credits Warren Buffett’s “family business” philosophy for guiding her leadership of the Berkshire Hathaway-owned jewelry retailer. Goracke, who started at Borsheims in 1988 as a sales associate, was later interviewed by Buffett himself for the CEO role. According to Benzinga, Buffett advised her to “keep it simple and run the company like a small family business.”

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Buffett’s hands-off management style allows CEOs within Berkshire Hathaway to operate independently. “He wants to empower us to do what we think is best,” Goracke told Business Insider, as cited by Benzinga.

Goracke first caught Buffett’s attention while leading an overhaul of Borsheims’ inventory system, cataloging 100,000 pieces of jewelry. Buffett provided feedback during the process, writing notes on areas of improvement.

Despite his high-profile success, Buffett is known for his humility. Goracke described him as “charming, funny, and informative,” adding that his mentorship has been instrumental in shaping her leadership style.

Buffett’s emphasis on continuous learning has also influenced Goracke. She noted his belief in the power of reading and credited this habit with helping her make informed decisions as CEO, Benzinga reported.

Goracke said her conversations with Buffett occasionally extend beyond business, covering topics like community issues and sports. She values their professional relationship but contacts him sparingly.

Buffett has encouraged Goracke to focus on her strengths, advice she applies in managing Borsheims’ inventory and operations. Under her leadership, the company continues to operate with the simplicity and trust Buffett advocates, reflecting his philosophy of treating it like a family-owned business within Berkshire Hathaway’s broader structure.

Read the report in Benzinga for more.