There are certain people that are considered to have gotten to a “height” in the business world where any advice they dish out is taken hook, line, and sinker. One of this great people is one of the top financial wizard in the world and third richest man in the world Warren Buffet.
Starting a business or going into a financial venture can be very tough and even tougher is learning the ropes. That is why we have put together five tips by warren buffet himself to help you either forge ahead in the business world or even start your own business.
Financial Tips Form Warren Buffet
Have a budget and stick to it
“If you buy things you do not need, soon you will have to sell things you need.”
This is certainly very through when you talk about finances. There are a lot of things that will greatly dent your budget, and if you are not careful, you will start spending above your means. So make sure that you avoid buying what you don’t need and also have a plan and ensure that you follow it as strictly as possible. Also, have savings and adhere to a savings plan.
Get the right partner.
“It is better to hang out with people better than you. Pick out associates whose behavior is better than yours, and you will drift in that direction.”
Simply put when you want to start a business, get the right partner that will give you great advice and make sure that you are ion the right path.
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“If you don’t invest in things you know you are just gambling.”
Before putting your money into anything, you have to make sure that it is something that you know about very well. So do your research first, ask questions, and seek professional advice before you invest.
“The most important investment that you can make is yourself.”
Warren Buffet started out with just $100 but his net worth as since increased to be more than $90 billion. This was done through investing in personal development and dedication to making sure that new things are learned. So take that course, travel to that place, read that book, and make sure that you continue to grow.
Warren once asked Mike Flint, his pilot, to make a list of 25 goals. After the list was submitted to Warren, he asked Mike to circle the five most important goals he has, so now Mike had two lists. A lot of effort will be put into the five goals, and some attention will be given to the 20.
All this just means you should make it something very important to set goals and also make sure that you follow them.