When the giants in business, namely Warren Buffet (age 92) and his partner Charlie Munger (age 99), give business advice — we business owners might want to sit up and listen.

As recalled recent article in Entrepreneur Magazine (Feb 23), Mr. Buffet and Mr. Munger met at a dinner in 1959 and immediately connected. According to Buffet, “Charlie and I think pretty much alike. But what it takes me a page to explain, he sums up in a sentence.” Often, business partners with opposite but complementary traits and skills are the best partners because opposing points of view can provide a “bigger picture” that leaves no stone unturned.

Charlie once said “You have to keep learning if you want to become a great investor. When the world changes, you must change.” We small business owners are our company’s chief investor, so Charlie’s advice is meaningful for all of us.

Since COVID and current political trends are having an impact on taxes levied on businesses and individuals, staying on course as a small business has been tough. Charlie has something to say about this too! 

“Don’t bail away in a sinking boat if you can swim to one that is seaworthy.”