Priceless finance advice everyone can relate to from one of the world's most respected businessmen and the most successful investor of all time Of course you know who Warren Buffett is; he's the most successful investor in the world--maybe of all times. But what do you know about his approach to business and investing? It's an approach that, over the past four decades, has made him richest man in America and the third-richest man in the world, and that has earned vast fortunes for his business partners and investors. But as Buffett himself will tell you, at the heart of any wealth-building system there are certain core beliefs, not just about finance, but about business, work, morality, your responsibility to yourself, your family and society, and about living a decent life. Written in conjunction with the hit television series, "Secret Millionaire Club" and with Buffett's input and full support, this book makes Buffett's financial philosophy and homespun life lessons available to everyone outside his "Secret Club." Warren Buffet's goal in spearheading this book was to share lessons about personal finance he has learned and that he hopes will benefit you (and your kids) for a lifetime You'll learn the fundamentals of personal finance by reading Warren Buffett's war stories and personal reflections on money, life, business, ethics and more All of the finance principles covered in the book were personally approved by Warren Buffett as those which he himself follows Unforgettable Buffett quotes include: "Price is what you pay. Value is what you get"; "Risk comes from not knowing what you're doing"; and "Profit from folly rather than participate in it."
THE SECRET'S OUT...! ix Don't Be Afraid to Make Mistakes 1 SECRET #1: Try to learn from your mistakes--better yet, learn from the mistakes of others! Don't Borrow Money 9 SECRET #2: Think twice before you either borrow money or loan money to someone-- especially a friend. Love What You Do 15 SECRET #3: Following your passion is the key to success. Make Time for Both Work and Play 19 SECRET #4: It is important to make the right trade-offs between work and play so we live a balanced lifestyle. Listen to What Others Can Teach You 25 SECRET #5: The experience of others is the best classroom you will ever find! Always Think of New Ideas 31 SECRET #6: Try to come up with alternate ways of doing things. Always Have a Plan 37 SECRET #7: When you fail to plan, you plan to fail. If You Fail, Try Again 43 SECRET #8: Failure is not falling down; it is staying down. Protect Your Reputation 49 SECRET #9: It takes years to build a reputation but only minutes to ruin it. The Customer Comes First 55 SECRET #10: Take care of your customer and your customer will take care of you. Open Minds Let In Better Ideas! 61 SECRET #11: Opening your mind can open the door of success. Always Promote Yourself 65 SECRET #12: Successful businesses successfully promote and advertise themselves. Location Is Very Important 71 SECRET #13: Location is a vital part of most businesses. Don't Be Fooled 77 SECRET #14: If it seems too good to be true, it probably is. Don't Judge Others 83 SECRET #15: With businesses, like with people, you should get to know them before you judge them. Be Willing to Change Your Ideas 89 SECRET #16: Chains of habit are too light to be felt until they are too heavy to be broken. Your Image Is Important 95 SECRET #17: Price is on the price tag; value is in the eye of the beholder. Be Thoughtful of Others 99 SECRET #18: If your service is outstanding, you'll always stand out. Pay Attention to Details 103 SECRET #19: A good business is disciplined to do the little things right every day. How to Present Yourself 109 SECRET #20: It's not just the outside that counts. It's the whole package. Your Decisions Affect Your Future 115 SECRET #21: Make sure you stay in school. Failing to complete your education can lead to not achieving your dreams in the future. Save for the Future 119 SECRET #22: Save money for things you need instead of spending it all on things you want! Be Someone in Demand 123 SECRET #23: Prices are determined by supply and demand. Confidence Comes with Understanding 127 SECRET #24: Don't get involved in a business you don't understand. A Lifetime of Learning 133 SECRET #25: Be smarter at the end of the day than you were at the beginning. Partners Make it Easier 139 SECRET #26: Great partnerships will make any
