Inspirational Speech by Warren Buffett | Best Motivational Videos for Success | Startup Stories

If you risk something that is important to you, for something that is unimportant to you. It just does not make any sense. I don't care what if the odds are a 100 is to 1 that you succeed or a 1,000 to 1 that you succeed.

If you hand me a gun, with a thousand chambers or million chambers in it there is a bullet in one chamber and you said put it up to your temple how much do you want to be paid to pull it once? I am not going to pull it.

you can name any sum you want but it does not do anything for me. We will always have problems I mean ever since I got out of the school, sometimes I used to sell stocks that always give me 10 reasons why you shouldnt buy them you have heard them all throughout your life.

But, the world does not belong to the pessimist, believe me. You are selling happiness and having it arms length away, that is the big part of it.. you know? the distribution shows the development. It is the right formula brochure and it just has to be carried out with you know.

. with extreme diligence, enthusiasm in every minute of the day. Picture Omaha in 1937 I was 7 years old and no weather conditioning, So the summers were hot and humid, people were run out of melons at night just to try and cool off so i got the idea that.

. maybe I can sell them what you will call soft drinks and we called pop. uhh.. so I went down to a bunch of gas stations.. and in those days every gas station had a cooler, and it had a little opener on the side and something to catch hold of bottle caps.

So I went around and collected all the bottle caps for weeks, Uhh, at these various gas stations, I collected 8000 of them, and then I sorted them all out. And I saw that there were Coca-cola overwhelmed everybody else.

There were these well off sober like ones in those days and my grand father had grocery stores, so I went to my grandfather and I said.. How about giving me a deal on coke so I could sell around the neighborhood and they sold me at the rate of 6 bottles for a quarter and I went around and sold it for a nickel age and I sold out every time.

I had no inventory,I had no receivables, I had the best business I ever had. Those were low return businesses, but time is the friend of the wonderful business, its the enemy of the lousy business, If you are in a lousy business for a long time, you are going to get a lousy result, even if you buy in cheap.

If you are in a wonderful business for a long time, even if you pay a little too much going in, you are going to get a wonderful result if you stay in a long time. I like to study failure.. actually and then my partner says all i want to know is where I will die, so I never go there and, and we want to see what has caused businesses to go bad and.

. the biggest thing that kills them.. is complacency You want a restlessness, a feeling that somebody is always after you but you are going to stay ahead of them, you always want to be on the move.. the danger will always be that you rest on your laurels.

That restlessness that belief, that is the key. That tomorrow looks more exciting than today, you just have to permeate the organization. You really want your decision making to be by looking in the mirror and saying to yourself "Im buying a 100 shares of General Motors at $55 because" and then it is your responsibility if you are buying it and.

. there has got to be a reason. And if you cannot state the reason, you should not buy it. If it is because somebody told you about it at a cocktail party, not good enough, you know. That we stick to pretty carefully.

Its one of the things Ben Braham taught me. visit our website startup story Zion for more inspirational stories and updates from the startup world if you risk something that is important to you for something that is unimportant to you it just does not make any sense I don't care whether the odds are a hundred to one that you succeed or a thousand one this see if you hand me a gun with a thousand chambers a million chambers in it and there's a bullet in one chamber in your set put it up your temple how much do you want to be paid to pull at once I'm not gonna pull it you know you can name any sub you want but it doesn't do anything for me we'll always have problems I mean you know ever since I got out of school somebody's I used to sell stocks that always gonna make ten reasons why you shouldn't buy them and you've heard them all throughout your life but the world does not belong to the pessimists believe me you're selling happiness and and and and it's you know I'm having at arm's length away there's a big part of it and you you know the distribution system development it's it's it's the right formula motor and it just has to be carried out with you know with extreme diligence enthusiasm and every minute of the day picture Omaha 1937 I was seven years old and no air conditioning so the summers were hot and humid people went out on their lawns at night just to try and cool off and I got the idea that maybe I could sell them what you would call soft drinks and we called pop so I went around to a bunch of gas stations and in those days every gas station had a cooler and it had a little opener on the side and something to catch all the bottle caps so I went around and collected all the bottle caps for weeks these various gas stations I collected 8000 of them and then I sorted them all out and I saw that they were coca-cola overwhelmed everybody else there were these little silver like ones in those days and my grandfather at a grocery store so I went to my grandfather and I said how about giving me a deal on coke so I can sell it around the neighborhood and he sold me at the rate of 6 bottles for a quarter and I went around and sold him for a nickel each and I sold out every time I had no inventory I had no receivables had the best business I ever had [Applause] those are low return businesses but time is the friend of the wonderful business it's the enemy of the lousy business we're in a lousy business for a long time you're gonna get a lousy result even if you buy a cheap if you're in a wonderful business for a long time even if you pay a little too much going in you're gonna get a wonderful result if you stay in a long time I like to study failure actually and my partner says all I want to know is where I'll die so I'll never go there and and we want to see what has caused businesses to go bad and the biggest thing that kills them is complacency you you want a restlessness feeling that somebody's always after you but you're going to stay ahead of them you always want to be on the move the danger would always be the you rest on your laurels that restlessness that belief that that's that is the key to the tomorrow is more exciting than today you know you just have to have a permeate the organization [Music] I mean you really want your decision-making to be by looking in the mirror and saying yourself I'm buying a hundred shares of General Motors at 55 because and I mean it's your responsibility if you're buying it and there's got to be a reason and if you can't state the reason you shouldn't buy it it's because somebody told you about it a cocktail party not good enough you know that we stick to pretty pretty carefully that's one of the things Ben Graham taught me [Music] you

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