We all know super rich from what we see or read in the media.  But how do these people spend their day?  Do they micromanage their businesses?  Are they involved in every detail of running a business?  Do they know everything that goes on in each one of their businesses?  The answer comes from Warren Buffet’s long time side kick named Charlie Munger.  Charlie is not just an employee of the company.  He is a trusted advisor that Warren listens to.  I recently saw a quote from Charlie that I will paraphrase.  When asked how he and Warren spend their day, the answer was:  We read a lot and we think a lot.

What a brilliant business statement that is.  They educate themselves every single day.  They think through their decisions that they are going to make.  They are always planning the next move looking for the next opportunity.  They are not just sitting back and going with the flow.  I understand their investment business is very different from the business you are running but the principles are the same.  If they were running your business they would be more involved in operations than they currently are but they would still be spending a great deal of their time thinking and reading.  The more educated you make yourself, the more success you’ll have.  Think through how much time you spend reading and thinking in your business.  It will make a world of difference in your business. Follow Warren and Charlie’s lead.