I have an odd confession to make.
I have a man’s picture taped to my computer monitor. I think about him all the time and my wife doesn’t know about him. (Well, she’s heard of him, but she doesn’t know how much I think about him.)
His name is Warren.
He lives in Omaha.
He’s very handsome and extremely smart.
Handsome? Who uses this word anymore?
Okay, I’m done goofing around….
I have Buffett’s picture taped to my monitor because I try to ask myself the following question several times a day:
What would Warren do?
I use this question before taking any action and this is because it helps to shift my perspective. Buffett thinks and acts differently than we do. He thinks like a rich person thinks and this thinking is EXTREMELY valuable. I try and model my thinking and actions around Buffett’s thinking.
My “lifestyle” business is copied 100% from him.
My favorite Tony Robbins quote is, “Success leaves clues.” The clue we should pay attention to is how successful people think. Buffett shares his thinking all of the time making it very easy for us to model.
Our thinking dictates are behavior. Our behavior dictates are results. You cannot change your results unless you change your thinking. It’s the whole “cause and effect” thing. One leads to the other.
You won’t find a rich person who thinks like a poor person. And you won’t find a poor person who thinks like a rich person.
Rich people have rich thoughts.
Poor people have poor thoughts.
I found the following in the great book titled, “How Rich People Think” by Steve Siebold:
“When the rich need money, they don’t wonder if it’s possible, they simply begin creating new ideas that solve problems. They don’t waste mental energy worrying or wondering about their ability to produce cash, they direct their concentration towards creative thinking.
The rich get richer because they know the world is overflowing with wealth disguised as problems that need to be solved. They know the free market economy will gladly make them as rich as they desire in exchange for solutions to problems.
There’s another reason the rich get richer: they’ve learned how to make money work for them 24 hours a day.”
Let’s turn this hokey-pokey thinking stuff towards money.
If a rich person (Buffett) wanted more money, what would he or she do?
Would Buffett ask for a raise?
Would Buffett look for a higher paying job with more benefits?
Would Buffett start cutting expenses?
Would Buffett personally go to work in one of the companies he owns hoping to increase revenues?
No, no, no and no.
This is extremely important for us to realize. Buffett wouldn’t do any of the typical things we might do for more money.
I’m not going to answer this question for you. I want you to answer it for yourself.
What would Buffett do if he wanted more money?
Figure out the answer and do the same thing for yourself.