I was reading a fascinating article this past weekend about the legendary Warren Buffet, one of the world’s richest and arguably most influential people in business. He is well known for taking a long view when it comes to his investments, and 10 years ago, he made a highly publicized prediction on the eve of the worst financial crisis since the Great Depression. Buffett said he was willing to bet anyone $500,000 that over ten years, an S&P index fund would outperform a collection of hedge funds (an index has been called the “most boring fund there is”, as it simply follows the market’s undulations, for better or for worse). One investment firm took him up on the bet, reasoning that they would have an 85% chance of winning. But Buffet knew that a decade is a long time, and anything can happen along the way, so he took a long term view of his prediction and bet, and ultimately won. The moral of this story is that successful entrepreneurs are often those who build businesses that are sustainable and in it for the long haul, with many a so-called overnight success story taking years of hard work to create.
Have yourself an inspired entrepreneurial day! - Melanie