Mistakes Inventory

Not paying close attention to inventory management can result in major issues for any business.

Episode Transcript

(00:03):
Hello, and welcome to the MoneyCafe with Solomon King. This program provides
all the information needed gives you indepth analysis and education of your financial business,
investments and issues that generally affect yourphysical well being. So get ready
for today's episode. Welcome to theMoney Cafe. My name is Solomon Solomon

(00:27):
King, your trusted financial adviser,the one voice you can trust when it
comes to your money. On theprogram today, I'll be sharing with you
mistakes inventory, an inventory a placewhere you record your mistakes. Recently I
studied the Management Secrets of Warren Buffettand this is a book I was written
by Mary Buffett Official and David Clark. You know, this material just goes

(00:51):
away from the regular investing secrets ofthe Sage of Omaha Warren Buffett and begins
to look at his ingenious strategies formanaging his businesses, learning both It has
over sixty nine companies under the backShare Hardaway Group, you know. And
one of the things that he's veryopen about is the fact that he makes

(01:15):
mistakes. And it's colted as sayingthat, oh, I make plenty of
mistakes. I would even make plentymore in future. So what he's trying
to say is Hey, mistakes willcome. I've made a lot of mistakes
and I will make some more infuture. However, you've got to correct
those mistakes. You've got to learnthe lessons and move on. People who
romins their mistake waste an enormous amountof time and energy, energy that could

(01:38):
be used to developing new ways tomake money and enjoy life. So that
you made a mistake, nothing iswrong with that. We learned by the
mistakes that we make, and that'sjust the truth. In school they tell
us to avoid mistakes, but inlife, life has you to make mistakes
because you have to learn from thosemistakes, so you won't learn about finances.

(02:00):
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(02:47):
it's that easy. Brass and booksmaking you wealthy every day. Win.
Buffett says that mistakes are of thepast and they should stay there. You
shouldn't bring up mistakes and to thefuture. You should bring your money making
ability to the future and leave yourmistakes in the past where they belong.
Say, all the money that needsto be made is made somewhere in the

(03:08):
future, and your mistakes don't wantto come from there. However, what
should come from the future would bethe lessons that you've learned from the past.
Take the lessons from it. Yeah, that's for me. Is the
issue. Most times people don't evenlook at the lessons to be taken from
the mistakes that they made. Yes, you made it bad investing decision.
Yes, you did not know enoughabout that investor or investment vehicle before you

(03:30):
put your money in there. Youdidn't understand what was happening, and you
made an investing mistake. What isthe lessing? So I'm asking myself today.
So one, what mistakes have Imade lately in the past few weeks?
What mistakes have I made? Whatlessons can I learn from them?
And this is how I'll preach.This is how I work, this is
how I think, This is howI approach the money conundrum. Yeah,

(03:53):
I will make mistakes. I don'tbeat myself up for making mistakes. Rather,
I say, yes, I've madea mistake. What lessening can I
If you make a mistake, it'sgood. It shows that you have an
opportunity to learn. The problem nowwill be what's your attitude to it?
Are you going to learn? Areyou going to take a lesson from there?
What are you going to wallow in? Petty? And then the paint
of the mistake. Thank you forlistening to this episode of The Money Cafe.

(04:16):
You can reach mister King on zeroeight zero six four five two nine
zero nine five. Once again,that number is zero eight zero six four
five two nine zero nine five.You can also check him out and all
his social media handles on Facebook SolomonKing, on Instagram, Money dot King,
and on YouTube Solomon Money King.Until next time, make sure you stay with