INSPIRATION

Great Ideas You Can Steal

From One Of The Richest People In The World
A philanthropist, great entrepreneur and a man who is regarded as being one of the best
financial investors of all times once said that it’s not neccessary to do extraordinary things to
achieve extraordinary results. That man, the third richest man in the world, has a lot to offer
when it comes to business ideas and strategies. Leading an austere and calm life, he has
earned so much money that he could buy an entire country. But despite being so rich, he
continues to live in the same house he bought 50 years ago for 31,500 dollars. For some
people, he is a true genius and a man who spent 15 years securing the podium of richest
people. So here are some of the best business strategies you can steal from him and apply to
your own entrepreneurial goals and desires.

1. It’s never too early to start

He made his first investment when he was only six years old, by reselling Coca-Cola bottles
for 10 cents while buying them for 4.6 cents. At that time, he couldn’t even imagine that
forty years later he would have a total empire under his feet. But he always had so much
confidence in what he was doing. While his friends were playing and dreaming of becoming
Hollywood actors one day, he was buying his first stock for 98, when he was only eleven.
Later on, he even stated that he regrets having started so late. When he was a teenager, he
was already raking about $175 a month, which was more than most adults. When he was 26,
he launched his own investment company, and the empire was born.

2. Time is a valuable resource

Bill Gates once stated that the most important lesson about time spending was what he
actually learned from this entrepreneur. “A day has only 24 hours. He is aware of this. He
does not allow his schedule to be filled with meaningless meetings”, said Gates. His desk is
filled with books and he spends 80% of his day reading. His distance from technology and
using a flip phone rather than a smartphone gives him time to go through every financial
idea and problem. We all love the immediacy and want results without having to wait for
them. But in business, things don’t function like this. Some ideas just take time to
implement, and no matter how fast we bring them into play, they just need time to earn
wings. By learning to respect our time and the time needed to put into action a business
idea, we can avoid making errors that can stagger our business strategies. This financial
mogul appreciates his time so much that he even auctions a “power lunch”, so people can
bid to have lunch with him and listen to his useful and productive advice. The most recent
winner of this power lunch paid $2,345,678!

3. The price is what you pay, but the value is what you get

When he was 35, he bought a textile company on the brink of bankruptcy and succeeded in
transforming it into a profitable company with 270,000 employees. For some reason, people
intend to pay much attention to price, rather than value. He saw a great opportunity and
grabbed it, by not paying attention to how much this company cost. If you work hard and are
dedicated to producing a valuable brand or service, people will acquire it, without price
being the main factor in their decision whether or not to buy it. To implement this golden
rule, highlight the value, not the price.
4. Games are won by people who focus on where they play on the field, not
the scoreboard

This is one of the most important lessons you can learn from a man who started his financial
career as a teenager. Capitalize your knowledge and apply it to the things you do well, and
avoid the risk of being overworked in a bad business. You do not have to be an expert at
everything, but you have to know what you are good at and do not go out of that area. If
your current strategy doesn’t bear fruit, focus on long-term strategies. Implement day to day
actions. The result that matters is the final championship, the final goal, and not that one
game that you seem to be losing right now.

If you haven’t already guessed who this businessman is, this is the life story of Warren
Buffett, the chairman and CEO of Berkshire Hathaway, the third richest person in the world
and one of the best financial advisors of all times.