#MixxBusiness: Warren Buffett Gives 9 Rules For Running Businesses

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Warren Buffett is the legendary guru of all things stocks and he’s also an incredibly successful businessperson. Basically he’s the package deal to success and the go to guide for business advice.

That advice can be summarized with a just a few words. Appearing on the CNBC-produced syndicated program “On the Money” last month, Buffett said, “If you own your stocks as an investment—just like you’d own an apartment, house or a farm—look at them as a business.” That long-term perspective is also at the core of the business advice that Buffett has provided over the years.

So for all the business savvy people in the world, this one is for you. Below are 9 rules Buffett has written in  annual letters to shareholders that can help the average person become lucrative in their business ventures.

1. Keep calm in the face of volatility. 

2. Keep good company. 

3. Keep your focus.

4. Keep costs low.

5. Keep employee incentives simple.

6. Keep out of trouble.

7. Keep your undervalued stock to yourself.

8. Keep it small.

9. Keep your reputation.

As Warren would say “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” So take these few minor guidelines and move onward in your pursuit of business longevity.

The Mixx Magazine Guest Writer Section. Where creative thinking is turned into words.