Warren Buffett shares some stories on how to quickly identify a good business:

"A couple of fast tests about how good a business is. The first question is: 'How long does the management have to think before they decide to raise prices?'

When you say, like we used to in the textile business, when you get down on your knees, call in all the priests, rabbis, and everyone else, and say: 'Just another half-cent a yard.' Then you get up and they say: 'We won’t pay it.' It’s just night and day.