One Last Thing About Your Financial Future...
I was only planning to write two articles about this book, “A Few Lessons for Investors and Managers From Warren Buffett”
Tai Lopez Nov 12, 2014
But it’s so good that I couldn’t resist one last quote to leave you with before I move on to the next book-of-the-day. 

When you’re trying to create wealth you have to remember a few things.  


In a world of seven billion people you have to create reciprocal altruism - meaning you give more value with your product than you charge people (that’s the only lasting way to start an entrepreneurial business), and even more important than your customer interaction, you’re going to have to go to war with an army.

Your army is your business partners, employees, and friends

Warren Buffett gives a few tips and he calls it the The Importance of Trustworthy and Talented Managment.

1. “Stick to proven management with a lot of integrity, talent, and passion. After some other mistakes I learned when we go into business, people who aren’t loved whom I liked to trust and admire.”

Remember that it’s three things not one. You have to trust them, they have to have massive skill, and they have to have the energy to push through the hard times.

2. Pick well so you don’t have to change around a lot: “Management changes like marital changes are painful, time-consuming, and chancy.”

It’s kinda like the Amish guy, William Yutzey, told me, “New friends are good, but old friends are better.”

Invest in people that can be around for the long-term.

3. How to manage: “Our trust is in people rather than the process. A ‘hire well, manage little’ code suits both them and me.”  

You don’t want to over-manage or under-manage. Sam Walton was similar to Warren Buffett.

So, put in the effort at the beginning to pick amazing people and then the rest will generally fall into line over time.

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