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Sunday, March 01, 2009

On Warren Buffett - The Man Can Set Goals

I like the way Warren Buffett described his goals in Berkshire Hathaway's 2008 annual report:

In good years and bad, Charlie [Munger] and I simply focus on four goals:
  1. maintaining Berkshire’s Gibraltar-like financial position, which features huge amounts of excess liquidity, near-term obligations that are modest, and dozens of sources of earnings and cash;
  2. widening the “moats” around our operating businesses that give them durable competitive advantages;
  3. acquiring and developing new and varied streams of earnings;
  4. expanding and nurturing the cadre of outstanding operating managers who, over the years, have delivered Berkshire exceptional results.

In this picture above, Mr. Buffett is probably thinking he's late for some advancing of his agenda as regards at least one of those four goals. He's got a reputation for being a pretty focused individual...

Anyway, I think I'll adapt these Berkshire/Buffett goals to my life, print it out and and tape it to the wall above my computer to help me stay on task.

That seems like a good idea (as far as setting business/financial goals is concerned, that is).


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