For most people, the “Oracle of Omaha” needs no introduction. With a self-made net worth of $84 billion, some experts consider the 87-year-old to be the greatest investor of all-time.
Despite his incredible achievements and decades in the public eye, the modest Midwesterner is frugal, relatable, and full of humility – and his life story is an endless source of lessons to aspiring business professionals around the world.
The Warren Buffett Series
Part 1: The Early Years
Today’s infographic, which is done in partnership with finder.com, is Part 1 of the Warren Buffett Series, a five-part biographical series about the legendary investor.
Note: Stay tuned for future parts with our free mailing list.
The young Warren Buffett was clearly a special kid. He ran his first “business” when he was five years old, and he invested in his first stock when he was 11. Buffett even managed to emerge from high school richer than his teachers.
But what lessons can we learn from Buffett’s prolific childhood – and how did his experiences as a young man shape him into the magnate we know today?
From Numbers to Dollar Signs
Even for someone as gifted and focused as Buffett, a serendipitous insight played a crucial role in charting his future course.
During a visit to the New York Stock Exchange when he was 10 years old, the sight of a young man rolling custom, handmade cigars on the floor made an outsized impact on him. In particular, Buffett realized that such a job couldn’t exist without massive amounts of money flowing through the stock market.
This unexpected epiphany planted the seed for stocks in his brain, and Warren’s long fascination with numbers soon shifted towards dollars.
The Buffett Growth Mindset
Warren Buffett famously spends 80% of his day reading – and the written word was just as important to his younger self. As a lad, one book that caught Buffett’s eye was One Thousand Ways to Make $1,000 by F.C. Minaker
Specifically, the book showed Buffett how $1,000 could compound over time – and that the earlier you had money working for you, the better.
An important lesson from the book? There’s a massive difference in returns between 60 and 70 year compound interest scenarios. In other words, annualized returns are just one part of the equation – but how long the money compounds is the other crucial part. This is a big part of the reason why Warren Buffett got started early.
Warren Buffett’s First Stock
Through his various activities, Buffett had $120 saved by age 11. Naturally, he invested it in a stock, co-investing his sister’s money. They each bought three shares of Cities Service Preferred for $38.25 each.
The share price promptly dropped to $27, but Buffett waited it out. When it got to $40, he sold to net a small profit – however, the stock soon after went all the way to $202!
Warren calls this one of the most important moments in his life, and he learned three lessons:
- Don’t overly fixate on what he paid for the stock
- Don’t rush unthinkingly to grab a small profit. He could have made $492 if he was more patient
- He didn’t want to have responsibility for anyone else’s money unless he was sure he could succeed
These important lessons would eventually tie in well to his value investing philosophy.
The young Buffett wasn’t afraid to try new things to build up his capital. He collected golf balls, sold peanuts and popcorn, sold gum and Coca-Cola, and even created tipsheets for horse races on a typewriter.
Some of his stranger endeavors? He launched Buffett’s Approval Service and sold stamps to collectors around the country, and he also launched Buffett’s Showroom Shine – a car shining business that didn’t last too long.
Warren’s Work Ethic
By the end of high school, Buffett had launched multiple businesses, sold thousands of golf balls, read at least 100 books on business, and hawked 600,000 newspapers.
This hard work led to him having a fortune of $5,000 by high school graduation time, the equivalent of $55,000 in today’s currency. He even owned land at this point, after buying 40 acres of Nebraska farmland with his newspaper profits.
Knocked Off Course
After high school, Buffett decided he was a shoe-in for Harvard. He knew it would be stimulating for him intellectually, and that the famed business school would allow him to develop a strong network.
The only problem? He got rejected.
Instead of letting this get to him, he discovered Benjamin Graham’s book The Intelligent Investor and fell in love. It was the methodical investing framework he needed, and he would later call it the “best book about investing ever written”.
Buffett would soon be accepted at Columbia Business School, where Benjamin Graham and David Dodd taught finance. Graham became Buffett’s idol, and his second-biggest influence behind his own father.
Part 2 of the Warren Buffett Series will be released in early January 2018.
Credits: This infographic would not be possible without the great biographies done by Roger Lowenstein (Buffett: The Making of an American Capitalist) and Alice Schroeder (The Snowball), as well as numerous other sources cataloging Buffett’s life online.
The 150 Apps that Power the Gig Economy
You’re likely familiar with companies like Uber, Airbnb, and Craigslist, but here are 100+ other apps that help make the gig economy possible.
Here are 150 Apps that Power the Gig Economy
Go back in time a decade, and you’d have a tough time convincing anyone that they would be “employed” through an app on their phone.
And yet, in a short period of time, the emergence of the smartphone has enabled the gig economy to flourish into a multi-trillion dollar global market. And by leveraging apps like Uber, Airbnb, and Etsy, it’s estimated that 57 million people in the U.S. now participate in the gig economy each year in some shape or form.
What apps do these people use to turn their time, skills, hobbies, or assets (cars, home, parking spaces, etc.) into additional income streams?
Today’s infographic comes to us from TitleMax, and it lists 150 different apps that are used within the gig economy – including many that pay gig workers directly.
Here are just some of the apps that are used in some of the major categories above:
Uber and Lyft are what many think of when they hear about the gig economy. However, there are now dozens of rideshare apps out there to fill different niches – for example, Wingz offers flat-fee rides to the airport, while Curb connects riders with professional taxi drivers.
TaskRabbit, which was bought by IKEA, turns errands such as assembling furniture or cleaning a gutter into payable gigs. Meanwhile, apps like Dolly and Bellhops will connect you with movers, and LawnLove is for lawn care.
Art, Design, and Crafting
Etsy, a marketplace for handmade goods, is one the of the best known brands in this category. However, there are many other niche options here as well – for example, UncommonGoods specializes in unique gifts, while Society6 focuses on gallery quality art prints.
Writing and Editing
Lulu and Kindle Direct allow you to publish eBooks online and sell them, while proofreaders and editors can get paid for their copy editing services through Gramlee.
Fast and efficient delivery services are a centerpiece to the gig economy, and there are no shortage of options here. DoorDash, UberEats, Caviar, and GrubHub allow users to get food delivered to their doors, while apps like Instacart focus on grocery delivery.
We all know that you can create videos and monetize them on places like YouTube or Twitch, but did you know you can be a voice actor through services like VoiceBunny? You can also sell rights to your photos via Foap, or do freelancing work through Upwork or Fiverr.
Whether you are tapping into the gig economy for an extra income stream or you are incorporating gig economy services into your life for added convenience, there is no shortage of options to choose from.
This Giant List of 100+ Marketing Stats Reveals What Actually Works
This massive infographic uses 100+ marketing stats to highlight the tactics that are working in modern-day digital universe.
In just the last decade, the marketing world has been dramatically transformed.
Spending on digital media surpassed television ads in 2017, and now global digital spend is anticipated to top $333 billion this year.
As a result, today’s entrepreneurs and small businesses are starting to think about marketing in almost exclusively digital terms – and to have a successful online strategy, it’s important to see the data on what tactics are actually working.
Visualizing 100+ Marketing Stats
Today’s infographic comes to us from Serpwatch and it highlights seven of the most important digital marketing trends to keep an eye on this year.
Along the way, it highlights over 100 useful marketing stats that help to reveal the strategies and tactics that maximize ROI in the online arena.
It’s well known that digital media tactics – such as using social media, SEO, search, email, and content marketing – all offer unprecedented levels of analytics, customization, and segmentation for the modern marketer.
However, with so much to think about when using these techniques online and at scale, they can also be quite overwhelming.
Luckily, the above list provides some marketing stats that stand out in potentially helping businesses make the most out of their digital campaigns.
Stats That Stand Out
Here are some of the marketing stats from the above list that we thought stood out the most, for each category:
The top five search results for a keyword on Google get 70% of the clicks.
- Social media:
80% of B2B leads come in through LinkedIn vs. 13% on Twitter and 7% on Facebook.
- Video marketing:
Video will represent 82% of all internet traffic by 2021.
- Cold email marketing:
Emails sent between 10-11am have the highest open rates. Tuesday is the best day to send cold emails.
- Paid advertising:
The mobile ad blocking rate has increased 90% year-over-year.
- Lead generation:
61% of marketers say generating traffic and leads is their top challenge.
- Content marketing:
47% of buyers viewed 3-5 pieces of content before engaging with a sales rep.
Although the digital marketing space is vast, the useful statistics above may help create some clarity for marketers trying to get the most out of their efforts in 2019 and beyond.
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