BRX Pro Tip: Insight from Charlie Munger
Stone Payton: [00:00:00] Welcome back to BRX Pro Tips. Lee Kantor and Stone Payton here with you. Lee, you know how much I personally enjoy getting your perspective on any variety of topics. But today, let’s get some insight from Charlie Munger.
Lee Kantor: [00:00:15] Well, Charlie Munger, for those who don’t know, is Warren Buffett’s right hand man. They’ve been working together for years and years. And if you haven’t been following his work, you’re missing out. He is a smart guy, knows a ton, and really helped Warren Buffett get to where he is. And he’s a behind the scenes guy and he doesn’t really chew this horn as much. And he’s obviously not as well known as Warren Buffett, but he’s definitely somebody you should be following.
Lee Kantor: [00:00:43] So, a few of his kind of fundamentals about life that I wanted to share with you are, number one, to get what you want, then you got to deserve what you want. So, you got to really earn the right to get what you want. So, keep that in mind. And trust, success, and admiration are all earned. So, if you spend more time working on that, then everything takes care of itself.
Lee Kantor: [00:01:11] Another thing he suggests is, to learn to think through problems backwards as well as forwards. A lot of times when you’re stuck on a problem, you’re looking at it one way. So then, something you can do is look at it the opposite way. And sometimes that unlocks the heart of the problem and help you solve it. And then, another piece of advice from him is, to just be reliable. If you’re not reliable, it’s going to cancel out a lot of your other virtues. So, if you make a promise, then deliver on that promise. And even better, over deliver on that promise.
Lee Kantor: [00:01:51] But being reliable is one of these non-negotiable values that if you’re somebody who’s reliable, who can be trusted, then a lot of doors are going to open for you. So, those are three tips from Charlie Munger. I recommend reading his work. He has books. He writes a ton. So, find him and study up on him. And, hopefully, that will help you grow your business.
