Get Smart!: How to Think and Act Like the Most Successful and Highest-Paid People in Every Field
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| Rule Number One Perhaps the most common advice given by wealthy people is “Don’t lose money In business and in life, your goal, too, must be to not lose money. In warfare, it is often the general who makes the fewest mistakes who wins the battle. In life, it is often the individual who makes the fewest financial mistakes who leads his or her company or division to high levels of profitability. The more information you gather before you make a decision, the more likely it is that you will make the right decision that leads to the success you desire. You achieve this goal by taking the time to become fully informed before you make an irrevocable decision in the first place. T HE S TRATEGY OF THE R ICH Bernard Baruch, one of the richest self-made men in America, in his book My Own Story, wrote that the biggest financial mistakes he ever made were because he had failed to do sufficient due diligence before investing his money. Warren Buffett, today the world’s second-richest self-made multibillionaire, spends as much as 80 percent of each day reading and informing himself on details that can influence the investment decisions he makes. He never stops learning and gathering information. Carlos Slim, who was the world’s richest man a few years ago, has his home in Mexico City full of newspapers from allover Mexico and around the world. He reads continually in every source available to him to give him the information he needs to make the right business decisions. N EVER S TOP G ATHERING I NFORMATION Your goal should be to become better informed than anyone else in those areas of business and life that are most important to you. You do this by continually gathering information and comparing different ideas. You remain skeptical and proceed slowly toward your decisions. The more information you gather and the more experience you accumulate, the better the decisions you will make and the better the results you will achieve. Download 0.86 Mb. Share with your friends:
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