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Written by Rosalind Renshaw

We were rather struck by reading in one of the Sunday papers that Warren Buffett’s recipe for success is to be brave when others are showing caution, and to be cautious when everyone else has chucked it to the winds.

Further research (warrenbuffett.com) reveals other tips. Whilst actually aimed at investors, we reckon they could have been written with agents in mind. 

Here’s Warren Buffet’s top ten tips for success, although we suspect his third is a make-weight.

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 small expenses
6. Limit what you borrow
7. Be persistent
8. Know when to quit
9. Assess the risk
10. Know what success really means

Comments

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    Hi Jim, by your definition, everybody who is born to a stockbroker/the system automatically becomes a billionaire? We can all sit and moan about what life has dealt us, or we can keep grinding it out like all the other lucky millionaires Ray Kroc, Bill Gates, Alan Sugar etc, etc

    • 08 December 2008 03:29 AM
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    neil, check your facts, he was the son of a stockbroker. Born into money and the network.

    • 08 December 2008 12:49 PM
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    My old boss used to say:-Dont worry about the business outlook, always be on the outlook for business! Thats all well and dandy but it aint helping us now coz there is no bloody business out there from where we are sitting!

    • 08 December 2008 12:24 PM
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    I have a few:

    1)Scrap HIPs (keep epc for euro sake)
    2)Guarantee ftb deposits/equity for 3 months.
    3)Oh thats it. Would nt take much would it.

    • 08 December 2008 12:14 PM
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    Hi, he was not born with money, he has made it through grinding it out. He is also someone who has always taken the long view and not worried about what model BMW he is getting next year!

    • 08 December 2008 12:09 PM
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    Dont worry clive i am one of those agents who have sen many a corporate off. Just stating the obvious. You are not protected, probably just using your old school money to keep going.

    • 08 December 2008 12:02 PM
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    Mr Buffett wouldn't have become an agent in the first place!!

    • 08 December 2008 11:51 AM
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    Correction from last message... That's the sort of comments I like. This means there will be more agents that will go down and out of business with that attitude = more business for us with the same attitude as Warren Buffett. If Warren is reading this, then he will know and agree with what i'm talking about. Clive Gregory.

    • 08 December 2008 11:50 AM
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    That's the sort of comments I like. This means there will be less agents that will go down with that attitude = more business for us with the same attitude as Warren Buffett. If Warren is reading this, then he will know and agree with what i'm talking about. Clive Gregory.

    • 08 December 2008 11:48 AM
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    I'd like to see how shrewd this bloke is when he's down to his last $10billion. This guy was born with money.

    • 08 December 2008 11:42 AM
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    He also advises to build a moat around your business. With over 20 agents in every town we have no hope. To competitive with low profit margins = no chance.

    Wish i' d spent 10 years training to do something else now.

    Also funny how the only arm of his business to lose money last year was his real estate chain. So dont worry not even Buffet can fight the economy. He just uses money from else where to keep it going.

    • 08 December 2008 11:08 AM
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