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How to Get Rich Warren Buffet-Style
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What is a major indicator that a company is not financially sound?
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How to Get Rich Warren Buffet-Style
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Hi, my name is Tricia Mann with About.com and this is how to get rich Warren Buffet style.

Warren Buffet is one of the single most successful investors with a net worth of about 45 billion dollars. By age 32, he was a millionaire. What did he do differently than the rest of us to become wealthy? Here are a few of his strategies.

Warren Buffet Invests in Businesses Not Stocks

Buffet always looked closely at the financial statements of the companies that he was interested in investing in. He did not see the stock market as up or down, bull or bear. He saw each company as either a company that can deliver good profits long-term, making it a good investment or not.

You can do this by learning to read financial statements and making sure the company that you are interested in is financially sound. One major indicator that a company is not financially sound is that they have a high debt to equity ratio.

Buffet Established Business Plans

Buffet never considered an investment in a business before creating a solid business plan. He looked at the numbers and made certain the business was positioned for long-term growth and profitability. Buffet’s investments have all been long term. Many refer to Buffet’s method as the get rich slow method. The economy is cyclical and will always go up and down. There is quick money to made in those ups and downs, but the real money is in buying and holding sound investments without the intention to sell.

Buffet Manages His Businesses' Cash Flow

Watch what you borrow and spend wisely. The number one reason businesses fail, is that they run out of money. Managing cash flow is all about monitoring comes in and very carefully keeping taps on what goes out. Almost all expenses in business are negotiable, from credit card fees to cost of supplies. Making sure that you are always getting the best price and paying the least in interest keeps more money in your pocket.

Lastly, Buffet always buys businesses that he is interested in. What’s being rich, if you aren’t having fun getting there? And that’s how to get rich Warren Buffet-Style. Thanks for watching! If you want more information, you can visit us on the web at About.com.
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