Does Warren Buffet Twitter?

9 replies
While watching a recent CNBC special on Warren Buffet something struck me as interesting. The reporter asked him what type of furniture he had in his house and what color the walls were in his house. He thought for a second and answered "I really don't know".

As the reporter probed deeper she asked him if he had a Blackberry or even a computer in his office. He said "No" pretty of matter of fact and then added - they don't help me make money.

I thought about this some more and realized that we could all learn an important lesson from the Oracle of Omaha. That lesson is simple - if it doesn't make you money, stop doing it. Warren doesn't concern himself with trivial things like decorating his house or what the latest and greatest trend on Wall Street.

Instead he focuses on the same principals that have made him money most of his adult life and blocks out everything else.

Seriously, think about it like this - Brian Tracy says that there are 3 things most people do that makes them money. In sales it is prospecting, pitching, and following up on customers. He believes that in order to make the most money possible, you need to fill every minute of your day with these three activities and if it doesn't match one of the three - time to get rid of it.

He took this to a new level by selling his lawnmower, hiring a housekeeper, and having someone else wash the cars and shop for food. Those task take him away from what is important to him - spending time with his family and making the most money possible.

A good friend of mine recently finished his weight loss book. I asked him how he found the time to write an almost 300 page book while being a single father and having a full time job. His answer - one page a night. That's it, no magic pill or formula, he set a goal of writing a page a night at least. In a couple of months he had the book done and is now making money off of it.

Now he could of spent that time on anything. He could spend hours on the forums, check his email 50 times a day, twitter, facebook, myspace his life away, but he didn't. Instead he set aside the time to make a product that will make him money many times over.

So instead of spending your day on tasks that you think make you money or at least keep you feeling busy, why not take a few days look how you spend every hour of the day. Then think about how you make money in your business. And if you are doing things that aren't making you money - stop it.

Fill your days with things that make you money and eliminate things that don't. Simple as that.
#buffet #twitter #warren
  • Profile picture of the author warner444
    good point, one I find myself needing to be reminded of again and again.
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  • Profile picture of the author JeffMitchell
    It is incredible the amount of time that is wasted in a single day. We all have the same amount of hours each and every day. But the difference between the people is how many hours are being spent being productive. Warren has built himself a HUGE amount of wealth (2nd in the world now), and he has done it all himself. A Ton of lessons can be learned from a man of his caliber.

    -Jeff Mitchell

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  • Profile picture of the author Angela V. Edwards
    It's a good a point (LOL) If the ONLY thing that matters to you is making money then this principle is something you will probably want to live by. But for us "non type-As" (), that isn't the only thing that is important to us and other things that provide peace, comfort, happiness, or convenience might be a little bit more important to us than they are to a more money-driven individual.
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  • Profile picture of the author Star69
    Concentration and focus, not allowing yourself to become distracted. That's how things get done.

    I will often be on my laptop at night reading something I saved to Documents during the day, and a thought will come into my head, something I should do tomorrow when I'm online. If I were to try to find a pen, I'd probably lose that thought, so I instead open wordpad and make a quick note. I create a 'making money to-do list' for the coming day.

    First thing in the morning I go straight to that list. I don't look at my emails, I don't look around on the Warrior Forum or any of the other forums I visit, I don't play games, I don't even check my bank balance until I have looked at that to-do list...and DONE those things.

    That's how I get things done. I DO them. A few days ago my list included reworking the text on a website to try to increase conversion (I had learned a few new things to try. Thanks Frank.), then I went to wikianswers and spent four and a half hours answering questions pertinent to my niche (which helps drive traffic to my site, much akin to article marketing), I fleshed out three different articles (which I will finish and submit another day), then I researched keywords for a couple other projects I am considering, which burned up another two hours of my day, and only after that was finished did I check emails and do the 'frivilous' time-waster stuff that so many people do.

    Knowing what to do is the first thing to getting anything done. Once you know what needs to be done, get to it before doing anything else, don't allow yourself to be distracted, and you'd be surprised what you can accomplish. Before you know it you'll be making money online.

    Warren Buffet, obviously, knows what needs to be done. He focuses on making money. (He's old school. Computers could help him make money but I don't think he knows how to even turn one on, let alone how they could make money for him, other than buying Dell or HP stock. Besides, the way he does it has served him very well, so why change now?)

    Recall how he completely avoided buying into computer tech stocks when everyone else was going hot and heavy for them? Smart man. Look at them now.

    Unless Warren has moved recently, he still lives in the same average house he and his wife lived in for 40 years. I've driven by it. It's just an average neighborhood full of normal-looking post WWII era homes, not gaudy or showy at all. You'd never know from looking at it that one of the world's richest men lives there. He's far from pretentious and even answers his door himself when someone rings the doorbell. (Bet Steve Jobs or Bill Gates never do that.)

    His mind isn't on living in a showcase mansion, heck, it's not even on what color the wallpaper is. That stuff doesn't help him make money, so why give it a second thought? Makes sense to me.

    The way I've always seen it is if I'm not making money, I'm spending money.

    I'd much prefer to be making money.
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    • Profile picture of the author TimCastleman
      Danc1122 -

      According to Warren he tip toes into work everyday because he is doing something he loves. He stays out of the hair of his CEO's of major companies and gives them a single page of goals to work on each year.

      He is really fascinating case study and once he dies he is giving everything to charity to help out 3rd world countries.
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    • Profile picture of the author The Wanderer
      Well, that's one way of looking at it, but the lesson I think I would draw from this is that Buffet does things his own way and doesn't worry about what everyone else is doing. And he respects others who do the same-- after all, he has been an important adviser to Obama, who does Twitter and insisted on keeping his Blackberry when he moved into the White House.

      As for remaining focused-- that's not hard to do when you're pursuing your passion. He has said many times that he wakes up every morning excited about what he's doing. That's the key for me. Everyone I've ever met who has been happy with how their life turned out has felt the same way. And if you're not that, what's the point of having money?
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  • Profile picture of the author onera
    As the CEO of Berkshire Hathaway Inc., he has responsibility to his share holders and that is the reason he cares so much about making money. He wants to do his job the best he can.

    On his personal life, he does not care so much about money and most importantly, he does not like ostentatious display of wealth.
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  • Profile picture of the author anwar001
    Warren Buffet is believed to be a genius. He has become something of an enigma to people. While its true that most of our time should be occupied in things with the most value for our business, but sometimes we need to make social connections too. Social contacts are one of the best assets in any business.
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