Warren Buffett’s 10 Ways to Get Rich

An excerpt from:    
10 ways to get rich - Warren Buffett's Secrets that can work for you.



1. Reinvest your profits - Take advantage of compound interest, which is growing money by money.


2. Be willing to be different - Think of innovative ways, don't follow other's concepts just because they become successful.    


3. Never suck your thumb - If you find something good, act. Don’t sit around doing nothing.


4. Spell out the deal before you start - Get all the details in writing before you follow through.


5. Watch small expenses - You have to account even the smallest expenses, like trace how many ballpens are wasted, how many pencils are broken, et cetera. Just like counting every cents.



6. Limit what you borrow - This is true. You can borrow sensible loans like students loans, emergency loans. Be careful on your borrowings. If you borrow, be sure you know how to pay it back. Make sure the money you borrow will bring you more money in the long run, not bury you in debt.



7. Be persistent - If you really want something to be done, be persistent. If you want to achieve something despite the failures, don't quit. I believe in this saying, "Try and try until you succeed."



8. Know when to quit - You have to know when to say, “when.” and when to Stop.



9. Assess the risks - Do some research and think of the "what if's" before jumping in to a new venture.


10. Know what success really means - Success doesn't mean always to be monetary. You can find different meanings of success. Warrent Buffett doesn't even want to name his building named after him. He's really one humble super rich guy.


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