Charlie Munger Quotes

Small business, right down to the individual can beat big, bureaucratic companies ten times out of ten.

You continue to change your approach until you achieve what you want using whatever life gives you along the way.

The entrepreneurs that really make it are the ones that start with an idea but are ready to change it at a moment's notice.

The virtue of small-to-midsize companies is that they tend to be more flexible and it is easier to experiment with new ways of working. So just try to tackle one problem you're really struggling with, together with your team. Get started and see what happens. Chances are you will be happy with the outcome.

I like to leave a little room to innovate and change things around while I'm working.

Some people are pragmatists, taking things as they come and making the best of the choices available. Some people are idealists, standing for principle and refusing to compromise. And some people just act on any whim that enters their heads. I pragmatically turn my whims into principles.

I never had a set of rules. Every situation is different.

Don't get stubborn, flow with the go. The key is to be open to unintended success. Some companies just can't take yes for an answer.

I never want to feel like the way that I see it isthe only way. Sometimes mistakes happen and that's better than whatyou thought the scene could be. You allow room for the possibilities.

Why can't people be both flexible and efficient?

Speed, agility and responsiveness are the keys to future success.

You can't just keep doing what works one time, everything around you is changing. To succeed, stay out in front of change.

People who need certainty are unlikely to make good entrepreneurs.

I'm not a big believer in long-term planning and far-off goals. In fact, I generally set 3-month and 6-month dreamlines. The variables change too much and in-the-future distance becomes an excuse for postponing action.

The only way to avoid disruption is to constantly do what you would if you were just starting out.

When the facts change, you change your mind. I know that is a hard concept for people to get sometimes.

People who are right most of the time are people who change their minds often

Owning pipelines, people, products, or even intellectual property is no longer the key to success. Openness is.

The only phrase I've ever disliked is, 'Why, we've always done it that way.' I always tell young people, 'Go ahead and do it. You can always apologize later.'

Never accept or be too comfortable with the status quo, because the companies that get into trouble are historically the ones that aren't able to adapt to change and respond quickly enough.

I just think it's ridiculous to be dogmatic and be caught in the past. You have to be open, aware, nimble and flexible about changes in the world.

I also have learned as an actor, this ties in the principles of improv, sometimes someone gives a piece of instruction and my first reaction is "I don't want to do that." I've always learned that every time I just say yes and go for it something happens. Whether it's what the intent of the direction was or not or something new happens. It's just remaining open to other people's ideas.

We can no longer stand at the end of something we visualized in detail and plan backwards from that future. Instead we must stand at the beginning, clear in our mind, with a willingness to be involved in discovery... it asks that we participate rather than plan.

My thing from the beginning is to have it be useful, and be able to help others. It's about being efficient and getting there as fast as you can. If people want to do it more artistically or in a freestyle way, I have absolutely no problem with it — that's the way it's going to evolve. It's not my style, but if it's other people's [style], that's perfect.

I'm really a big believer in working with people. It's challenging for me to come into already integrated brands and find a way where I can put my own flair on it.