If you are a sandwich lover, you probably have tried Jimmy John’s subs. Their business model seems pretty in line with the practical nature of Warren Buffett’s views on business. It is no surprise that you can find Warren Buffett Top 10 Rules of Success printed on a sign hanging in the restaurants across the country.
What are Warren Buffet Top 10 Rules of Success? Here they are divided into two parts. The first five rules go like this. 1. Reinvest your profits. 2. Be willing to be different. 3. Never suck your thumb. 4. Spell out the deal before you start. 5. Watch the small expenses. In simple terms these mean. The way the compound system works is when you keep putting your profits back into the market the money keeps growing. If profits are spent, the person ends up with the same amount as started with. Being different will help people find success where no one else has found it. Don’t waste time. Do homework make a decision and do it. A wrong decision can be fixed later. Know what money is going to be made before starting the work. It is easy to waste money on worthless things. Only spend the necessary money.
The next five rules. 6. Limit what you borrow. 7. Be persistent. 8. Know when to quit 9. Assess the risk 10. Know what success really means. In simple terms, these rules mean this. Don’t get stuck with a big debt and no way to pay it back. Keep at whatever the intention is until it succeeds, don’t quit until it quits. Make sure the risk can be handled whatever risk is involved. Success to Warren Buffett is not about the money, but about the love, people have for him. He suggest everyone think along similar lines to achieve success.