Berkshire Hathaway has a net worth of ~$992B.
We all know the company's CEO for his investment philosophy.
But here are 7 business lessons from Warren Buffett:
We all know the company's CEO for his investment philosophy.
But here are 7 business lessons from Warren Buffett:
1. Think more
"I insist on a lot of time being spent, almost every day, to just sit and think."
Business is an action game as much as it is a strategic game.
"I insist on a lot of time being spent, almost every day, to just sit and think."
Business is an action game as much as it is a strategic game.
2. Trust the data. Not the people.
"You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right."
Everyone has different opinions.
But it's better to trust facts (data) than opinions (wild guess).
"You are neither right nor wrong because the crowd disagrees with you. You are right because your data and reasoning are right."
Everyone has different opinions.
But it's better to trust facts (data) than opinions (wild guess).
3. Hang out with the right people
"It's better to hang out with people better than you. Pick out associates whose behavior is better than yours, and you'll drift in that direction."
This one strikes a chord with me.
"It's better to hang out with people better than you. Pick out associates whose behavior is better than yours, and you'll drift in that direction."
This one strikes a chord with me.
When I was building Expandi I started hanging around with people with the same goals that I had.
If you're a founder or a CEO...
I can't overstate how beneficial it is to hang out with other like-minded people.
If you're a founder or a CEO...
I can't overstate how beneficial it is to hang out with other like-minded people.
4. Play the long game
βSomeoneβs sitting in the shade today because someone planted a tree a long time ago.β
Build with 10+ years in mind. Not 10 months.
βSomeoneβs sitting in the shade today because someone planted a tree a long time ago.β
Build with 10+ years in mind. Not 10 months.
5. Invest in yourself
βThe most important investment you can make is in yourself.β
Don't be afraid to invest time and money in learning new skills.
Knowledge is the highest form of future leverage.
βThe most important investment you can make is in yourself.β
Don't be afraid to invest time and money in learning new skills.
Knowledge is the highest form of future leverage.
6. Be patient
βNo matter how great the talent or efforts, some things just take time. You canβt produce a baby in one month by getting nine women pregnant.β
Some things take time. Don't rush what can't be rushed.
βNo matter how great the talent or efforts, some things just take time. You canβt produce a baby in one month by getting nine women pregnant.β
Some things take time. Don't rush what can't be rushed.
7. Say no more often
βThe difference between successful people and really successful people is that really successful people say no to almost everything.β
It's ok to say NO.
You should focus your time and attention on the things that truly matter to your business.
βThe difference between successful people and really successful people is that really successful people say no to almost everything.β
It's ok to say NO.
You should focus your time and attention on the things that truly matter to your business.
Thank you for reading to the end.
If you found these lessons valuable, consider giving this thread a retweet:
If you found these lessons valuable, consider giving this thread a retweet:
Follow me @SmuldersStefan for more content on business, marketing, and building a startup.
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