Are you investing your resources wisely?
Here’s a little story about Warren Buffet, currently ranked the 3rd richest man in the world.
Buffet was walking along with the Editor of the New York Times when he stopped to make a call at a pay
phone. Drawing a 50c piece out of a pocket, he asked whether his companion had any change. His
companion looked puzzled since the minimum call charge was 40c – after all, the change would only be
10 cents, surely it was hardly worth worrying about? But Buffet persisted, “Have you any idea of the
compound interest on 10 cents over 25 years?”
Buffet’s argument was that even something as small as 10 cents, when invested over time, would accrue
and grow exponentially. And since Buffet’s fortune is estimated at US $45 billion, it seems to me, he
might be a man worth listening to. That he has also pledged 99% of his fortune to charity only adds to the sense that he invests wisely and spends wisely too.
So, what can we learn from this? The question is, in your life or business, are you wisely investing your
resources? Or are you squandering them with a careless shrug, “Hey it’s only 10 cents, or 10 minutes, or
Here are a couple of examples of the compounding effect to get you thinking – in these examples the
precious resource is time.
Where did the time go? Read more...