Sunday, December 4, 2011

Warren Buffet's 26 Lessons Part 2

Here's the 13 lessons I learned from Warren Buffett's Secret Millionaire Club. Enjoy.

Lesson 1: Savings is rule #1 to get rich
The more you save, the more capital you have to face future opportunity and unknown risk.

Lesson 2: Always have a plan first
Everything should have a plan, and need to make sure the plan is executable. A good start equals to half success. A wrong plan can caused a failure.

Lesson 3: The best payback is don’t borrow money
Debt is a problem. If you borrow but you can’t payback, it is bad.

Lesson 4: You need to have responsibility and do what you afford to
Need to evaluate your financial capability, over spending will cause your finance collapsed.

Lesson 5: Discover what you have passion with and what you like to do
Find something you are passion and interested, which can truly develop your talent. Insisting your dream is the only way to success.

Lesson 6: Only right decision will bring you success
There are too many decisions in your life, but only the right decision can bring you to success.

Lesson 7: Find a partner to assist you
One person unable to do a successful business, you need a good partner to make the job easier.

Lesson 8: Learn to listen and ask
Success has close relation with excellent communication. The best communication method is to raise question and listen.

Lesson 9: Stand on giant’s shoulder to look further
If you want to be success than others faster, you need a right mentor. Learn from the success person can make you learn more and deeper.

Lesson 10: Shortcut won’t make you successful
If you want to be successful, you must be discipline, perseverance, and never think of run shortcut and be successful within a short period.

Lesson 11: Learn from mistakes
Not only you need to learn from self-mistake, but learn from others’ mistakes as well.

Lesson 12: Never give up
You still need to continue to attempt even though you make mistake. This is because today’s mistake will bring tomorrow’s success. Failure is not the end, but a new beginning.

Lesson 13: Be Creative all the time
When you face bottleneck, you need to think of the way to be creative. A better way is always comes out from the continuous attempts and improvement.

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