Warren Buffett's Management Secrets: Proven Tools for Personal and Business Success

By Mary Buffett and David Clark

The book is divided into several sections covering Warren Buffett's personal business management:

. Managing one's life - focuses on Buffett's insistence on a good education, picking one's heroes early in life, and staying away from things that damage you personally. The authors also discuss Buffett's belief that challenges make life interesting.

. Managing One's Career - Buffett believes that you should work at something that you are passionate about. Do what you like and you will find a way to make money. Do what you hate and you will be miserable even if you are rich.

. Managing Employees - place honesty on the same level as intelligence as a managerial attribute. How to keep managers inspired and working hard.

. Managing the Business - Buffett has learned that companies that have a durable competitive advantage over their competitors consistently earn more money year after year and are the easiest to manage.

. Managing of Personal Money - discover the simple rules that Buffett uses for buying other businesses and how he has incorporated them into his own personal investment style.

• Language: English
• Publisher: Simon & Schuster UK
• Release date: Feb 18, 2010
• ISBN: 9781847379542

Mary Buffett

Mary Buffett is the coauthor of Scribner’s bestselling Buffettology series, and a contributor to HuffPost and the online magazine Thrive Global. Mary’s online school—BuffettOnlineSchool.com—provides monthly investment insights and helps students learn to build successful stock portfolios.

Reviews for Warren Buffett's Management Secrets

[brianinbuffalo · Rating: 4 out of 5 stars]

Every small business owner, human resources manager and aspiring entrepreneur should read this wisdom-packed book. In fact, any individual who has even a miniscule investment portfolio will find a wealth of useful information in this fast-read volume.In the interest of full disclosure, I have worked for a Berkshire Hathaway-owned company since 1997 (The Buffalo News). But I can honestly say that I don’t think my affiliation (or my one encounter with an amiable Warren Buffett) colored my perceptions of this book.In a clear and concise way, the book outlines dozens of management and investment strategies that have helped to make Buffett one of the richest men in the world. It presents vivid examples to explain the importance of finding businesses with “brand advantages.” It gives useful tips for motivating employees and boosting self-esteem ( i.e.: praise people individually, but criticize in “groups.”) I could list 30 insightful tips that I’ve gleaned from the book, But I’ll limit it to a half-dozen:-- Never give a direct order to an employee. Instead, frame your goal as a question, allowing the other person to come around to your way of thinking.-- Delegate management tasks. The book suggests that Buffett’s delegation mantra borders on “abdication,” but he delegates only after he is convinced that he has the ideal people manning the helm.-- Don’t encourage managers to be obsessed with “making the numbers.” Folks who strive to always make the numbers may eventually try to “make up” those numbers.-- Instill “discipline,” even with small things. Managers who are undisciplined when it comes to tiny tasks may also lack discipline when bigger issues surface.-- Admit you’re wrong – and do so fast and with candor. There are so many other helpful nuggets sprinkled throughout this slim book. One such example involves simple hints for reviewing a company’s numbers (look for a positive upward trend in per-share earnings over the span of a decade or so.) If forced to make one constructive criticism, I would suggest that some of principles could be further expanded with additional examples , anecdotes and case studies. But overall, this book is a must-read for folks who have even a remote interest in business.