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7 March, 2011 / Karl Maier

Warren Buffet’s Formula for Getting Rich

Warren Buffet understands consistent incremental change.  A tiny change each day is what made Buffet rich.  A change of 7/10000 each day is really tiny, but if you can increase your wealth that much each day, then over the course of a year you gain 25%.  So if you compound 25% each year over 25 years, $100,000 turns into over $25 million.

The same principle can be applied to changing a behavior.  If you change an element of a person’s behavior by 1% a day, then over the course of three months, they have changed that behavior almost 100%.

Little steps, made every day make big changes.

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