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Opinion: Powerful Lessons I Learned From Warren Buffett On How To Make Money

1. Reputation is everything

It takes a lot of time to build a reputation but it takes one second to destroy it. You must sustain the ability to be truthful and stand by your word

2. Invest in yourself

Self-investment is the most profitable investment you can ever make.

3. Failure is a stepping stone to success

For every time a man fails, he discovers new ways of doing that thing.

Because you fail, it does not mean you are a failure.

4. Knowledge compounds

There is no limit to knowing more, the more you know, the more have more experience of doing things

5. Never stop learning

There is no end to knowledge, there is no end to learning, the more you learn, the more you earn

6. Always calculate your cost

Do not spend more than you are earning

Do not live to impress others

7. Multiple streams of income

As much as you can, always try to have more than one source of income

8. Emotional investment does not profit

In business, the faith factor is called risk, you need to let go of your emotions and take the risk

9. Haste makes waste

No matter the investment, do not rush into it, learn it, study it, and see if you can handle it.

10. Never compete with others

You must learn competency not competition

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Warren Buffett


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