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Quote by Mihaly Csikszentmihalyi

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Good Business: Leadership, Flow, and the Making of Meaning

This book delves into the principles of effective leadership and the dynamics of organizational culture, exploring how businesses can cultivate a sense of purpose and engagement among their employees. It discusses the concept of flow, a state of optimal experience, and its role in driving productivity and satisfaction in the workplace. more

Author

Mihaly Csikszentmihalyi
Mihaly Csikszentmihalyi

Mihaly Csikszentmihalyi is a renowned psychologist known for his research on the concept of flow. His work focuses on human creativity and happiness, particularly the psychological state of being fully immersed in an activity. more

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“The first thing I did was commit to my success and playing to win. I swore I would focus and not even consider leaving this business until I was a millionaire or more. This was radically different from my previous efforts, where, because I always thought short-term, I would constantly get side-tracked by either good opportunities or when things got tough.”

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“Do you want a successful career or a close relationship with your family? Both! Do you want a focus on business or have fun and play? Both! Do you want money or meaning in your life? Both! Do you want to earn a fortune or do the work you love? Both! Poor people always choose one, rich people choose both.”

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“I can find only three kinds of business in the universe: mine, yours and God's. Much of our stress comes from mentally living out of our business. When I think, "You need to get a job, I want you to be happy, you should be on time, you need to take better care of yourself," I am in your business. When I'm worried about earthquakes, floods, war, or when I will die, I am in God's business. If I am mentally in your business or in God's business, the effect is separation.”

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“To think that I know what's best for anyone else is to be out of my business. Even in the name of love, it is pure arrogance, and the result is tension, anxiety, and fear. Do I know what's right for me? That is my only business. Let me work with that before I try to solve problems for you.”

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“To invest successfully, you need not understand beta, efficient markets, modern portfolio theory, option pricing or emerging markets. You may, in fact, be better off knowing nothing of these. That, of course, is not the prevailing view at most business schools, whose finance curriculum tends to be dominated by such subjects. In our view, though, investment students need only two well-taught courses - How to Value a Business, and How to Think About Market Prices.”

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“None of this means, however, that a business or stock is an intelligent purchase simply because it is unpopular; a contrarian approach is just as foolish as a follow-the-crowd strategy. What's required is thinking rather than polling. Unfortunately, Bertrand Russell's observation about life in general applies with unusual force in the financial world: "Most men would rather die than think. Many do."”

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“I have pledged - to you, the rating agencies and myself - to always run Berkshire with more than ample cash. We never want to count on the kindness of strangers in order to meet tomorrow's obligations. When forced to choose, I will not trade even a night's sleep for the chance of extra profits.”

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