As Alice Schroeder explains at the end of her book, The Snowball: Warren Buffett and the Business of Life, although Warren Buffett is best known for being the second richest person in the world, “above all, he would describe himself as a teacher.”From sharing his thoughts with small groups at cocktail parties to spreading his wisdom to the entire world through his annual shareholder letters, Schroeder shows throughout her book that Warren has always prided himself on teaching others.

Although he is most highly sought for his investing advice, the wisdom Warren has shared over the decades can easily be applied outside of the world of finance. Because of this, I want to share the following twenty quotes from Warren Buffett, and how they can be applied directly to your job as an Internet marketer:

[Here is a covey of the first seven.]

1) “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”Quote #1 is so powerful that it requires no explanation.

2) “In the business world, the rearview mirror is always clearer than the windshield.”

Quote #2 addresses the fact that while anyone can look back and analyze what happened in the Internet marketing world during the last three years, it takes a lot more focus and work to gain any worthwhile insights into what is going to happen during the next three years.

3) “Never invest in a business you cannot understand.”

4) “It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”

Quotes #3 & #4 emphasize the importance of not only focusing on doing what you’re best at, but of also working with people who are as talented and passionate with their own specialized set of skills.

5) “Risk can be greatly reduced by concentrating on only a few holdings.”

6) “An investor should act as though he had a lifetime decision card with just twenty punches on it.”

7) “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”

Quotes #5-7 addresses a major issue within the Internet marketing community. While forums are filled with threads discussing how to make tons of money by creating a site that makes $1 a day, and then replicating the process thousands of times, the truth is that the people who are most successful online are those who focus all of their attention and effort on just a handful of sites.

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