What Warren Buffett can teach us about Scrappy Side Hustles
Understand the fundamental principles of running a business
Warren Buffett is one of the wealthiest people in the world. He amassed his wealth by following sound investment principles and making clever and patient moves in the stock market. When we talk about Buffett, we have this vision of a sage 90-year-old man. When Buffett speaks, the entire business world pays attention.
Tens of thousands of investors and financial analysts have tried to mimic his strategy with the hope of enjoying similar returns on their wealth. However, only a few have come close to his success.
I feel that all these people trying to mimic Warren Buffet are looking in the wrong place. They tend to focus on his latest investment tactics rather than focusing on who Warren Buffett was before becoming a successful investor.
In The Snowball: Warren Buffett and the Business of Life, Alice Schroeder tells some fascinating stories about Warren Buffett’s teenage years. Warren Buffett was still in school but had several side hustles going on at the same time. These were in the 1940s. The United States was fighting world wars in Europe and the Pacific. Industrial production and consumer goods were being rationed for the war effort. And yet, in these very…
