Repeat What Works
“We’ve had enough good sense that when something is working well, we want to keep doing it…We’re demonstrating what might be called the fundamental algorithm of life: repeat what …
The Ultimate Marketing Hack is Telling the Truth
It’s 2016 and I’m at the Guinness Storehouse in Dublin on the third of eight floors. A video called Sapeurs plays–and I’m transfixed. It’s set in a bustling, impoverished town in the Congo. One man …
5 Marketing Lessons from Charlie Munger’s $2 Trillion Company
How do you build a $2 trillion company? In a 1996 speech, late billionaire Charlie Munger provided a 150-year plan to turn $2 million into a $2 trillion business. Munger said he “attempted to …
Return on Equity: The Most Important Business Metric You’re Not Using
Teenage Warren Buffett and a friend bought a broken down pinball machine for $25. The friend, a future engineer, fixed the machine while Buffett convinced local barber shop owner, Frank Erico to let …
The Empty Lake: Why We Buy Stuff We Don’t Use
Malibu delivered my wakesurf boat last week. It’s winter in Austin, but it’s 74 degrees outside and the water is comfortable with a $200 3/2 wetsuit. The lake–even on a beautiful sunny Sunday–is …
Best Finance Books for Entrepreneurs
“It’s been my experience in life if you just keep thinking and reading you don’t have to work.” – Charlie Munger Yesterday I ordered five finance books–928 total pages–for …
Grow Sales or Increase Profits? (Use the Paperclip Principle)
In 1996, the natural soda and juice company Hansen Beverage produced $357,000 in net income on $35.6 million in sales. In 1997, it introduced Hansen’s Energy Drink. Five years later, it launched a new …
The Best Investment Portfolio for Entrepreneurs
In 2015, I force-fed my business cash. $480,000 per year on office rent, $500,000 on a mobile app, $500,000 on a custom community, $1 million on a marketing campaign, much more hiring too many people. …
How to Invest $100,000 Today
Each entrepreneur I know who has sold a business for millions of dollars lost money investing. They buy real estate because they can see it; they invest in friends’ startups because they can talk to …
The Top 5 Mistakes Every Investor Makes
“Diversification is for the know-nothing investor.” — Charlie Munger Mistake One: Diversifying too much It was May 3rd, 2008. The two leaders, Warren Buffett and Charlie Munger–aged …