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Not Buying It Means You're Already Paying for It

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Manage episode 333032086 series 2534823
Content provided by Emily Binder. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Emily Binder or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

A story about my friend whose team didn't want to pay for a $110,000/year software tool that would save them from needing at least one more employee. Are you being pennywise and pound foolish when evaluating tools for your business? Charlie Munger is one of the most prolific investors in history, in terms of both financial returns and imparted wisdom. His ideas:


The company that needs a new machine tool, but hasn’t bought it, is already paying for it.


The person who is in need of a new thinking tool, but hasn’t yet acquired it, is already paying for it.


These Mungerisms and apply to your marketing.


Resources:

Book: Poor Charlie's Almanack (foreword by Warren Buffett)

YouTube summary of Munger's Mental Models (18 minute video)



Hosted on Acast. See acast.com/privacy for more information.

  continue reading

730 episodes

Artwork
iconShare
 
Manage episode 333032086 series 2534823
Content provided by Emily Binder. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Emily Binder or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

A story about my friend whose team didn't want to pay for a $110,000/year software tool that would save them from needing at least one more employee. Are you being pennywise and pound foolish when evaluating tools for your business? Charlie Munger is one of the most prolific investors in history, in terms of both financial returns and imparted wisdom. His ideas:


The company that needs a new machine tool, but hasn’t bought it, is already paying for it.


The person who is in need of a new thinking tool, but hasn’t yet acquired it, is already paying for it.


These Mungerisms and apply to your marketing.


Resources:

Book: Poor Charlie's Almanack (foreword by Warren Buffett)

YouTube summary of Munger's Mental Models (18 minute video)



Hosted on Acast. See acast.com/privacy for more information.

  continue reading

730 episodes

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