Business Gem: Warren Buffett's Advice

I got this from a friend. Not sure of the source though so take it with a pinch of salt.

********
Spending: If you buy things you don't need, you'll soon sell things you need.

Savings: Don't save what is left after spending; spend what is left after saving.

Hard work: All hard work brings profit; but mere talk leads only to poverty.

Laziness: A sleeping lobster is carried away by the water current.

Earnings: Never depend on a single source of income.

Borrowings: The borrower becomes the lender's slave.

Accounting: It's no use carrying an umbrella, if your shoes are leaking.

Auditing: Beware of little expenses; a small leak can sink a large ship.

Risk-taking: Never test the depth of the river with both feet.

Investment: Don't put all your eggs in one basket.

Business Gem 1

I read with sadness that businesses are suffering during this economic crisis period.

Instead of focusing on the gloom and doom, I am starting a new section called Business Gems.

I hope to jot down my thoughts or good ideas i have found on surviving this crisis.

It also acts as a reminder to myself.

Business Gem 1

Your customers face new problems,

so give them new solutions.

No matter what business you're in,

you can redefine value for the customer.