Warren Buffet
001
There is a huge difference between the business that grows and requires a lot of capital to do so and the business that grows and doesn't require capital
002
We delegate almost to the point of abdication
003
Management changes, like marital changes, are painful, time consuming, and chancy
004
Would you rather be the world's greatest lover and have everyone think that you are world's worst lover? Or would you rather be the world's worst lover and have everyone think that you are the world's best lover
005
I don't want to be on the other side of the table from the customer. I was never selling anything that I didn't believe in myself or use myself.
006
We also believe candor benefits us as managers: the CEO who misleads others in public may eventually mislead himself in private
007
The really good business manager doesn't wake up in the morning and say ," this is the day that I am going to cut costs, any more that he wakes up and decides to practice breathing"
008
There's a really a lot of overlap between managing and investing. Being a manager has made me a better investor and being an investor has made me a better manager
009
If you have a great manager, you want to pay them very well
010
The roads of business are riddled with potholes; a plan that requires dodging them all is a plan disaster
011
The roads of business are riddled with potholes; a plan that requires dodging them all is a plan disaster
012
I make plenty of mistakes and I'll make plenty more mistakes, too. That's part of the game. You've just got to make sure that the right things overcome the wrong ones
013
Of one thing be certain: if a CEO is enthused about a particularly foolish acquisition, both his internal staff and his outside advisers will come up with whatever projections are needed to justify his stance. Only in fairy tales are emperors told that they are naked
014
Since mistakes of omission don't appear on financial statements, most people don't pay attention to them. We rub our noses in mistakes of omission.
015
You don't have to think of everything. It was Isaac Newton who said, "I've seen a little more of the world because I stood on the shoulders of giants. "There is nothing wrong with standing in other people's shoulders.
016
It's better to hang out with people who are better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction.
017
The best asset during inflation is your own earning power. Anything you do to improve your own talents and make yourself more valuable will get paid off in terms of appropriate real purchasing power. If you do something well, whether you're a major league baseball player, or if you are a good assistant, whatever it may be, you are your best asset.
018
There is plenty of money to be made in the center of the court. There is no need to play around the edges quotes
019
Inducing the other person to come up with the right idea is far more powerful as a motivational tool than telling them the right idea
020
When you want someone to do something stop thinking in terms of what you want and think in terms of what they want"
021
Give your employees a fine reputation to live up to and praise them every chance you get
022
We all have a deep and honest need to be appreciated
023
To win an argument, you sometimes have to lose
024
Work hard in silence, do what you have to do, and ignore the drama and negativity surrounding you. Let your success be your noise
025
Obsession is the price for perfection
026
In the management of our lives, the rule is: Love what you do In the management of our businesses, the rule is: Hire people who love what they do Both will lead you to the gold
027
Change managers only when necessary, promote from within if possible, and if you cannot, look for talent with a proven track record
028
In Warren's world it is not so much how smart we are as it is how obsessed we are, how much we love what we are doing.
029
Praise and Criticism, the rule is simple: Praise by name, and criticize by category
030
It is not necessary to do extraordinary things to get extraordinary results
031
It takes 20 years to build a reputation and five minutes to lose it. If you think about that, you will do things differently
032
An idiot with a plan can beat a genius without a plan
033
When asked about the secret of his success, he replied immediately "I just say no to everything"
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