{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Living Well - Succeeding Big: 3 Lessons from Charlie Munger' data-url='/boclips/videos/65d5c6a0b86f6b39167d5275' data-video-url='/boclips/videos/65d5c6a0b86f6b39167d5275' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nLiving Well - Succeeding Big: 3 Lessons from Charlie Munger\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eHave you heard of Charlie Munger?A lot of people haven't.But you should.Charlie is the business partner of the more famous Warren Buffett. He's the Vice-Chairman of Berkshire Hathaway, the US investment giant that makes its shareholders...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eHave you heard of Charlie Munger?\u003cbr/\u003eA lot of people haven't.\u003cbr/\u003eBut you should.\u003cbr/\u003e\u003cbr/\u003eCharlie is the business partner of the more famous Warren Buffett. He's the Vice-Chairman of Berkshire Hathaway, the US investment giant that makes its shareholders very rich.\u003cbr/\u003e\u003cbr/\u003eBut what makes Munger worth knowing about is not just his undeniable success as a business person. He also talks a lot about how he achieves it. And what he says makes a lot of sense for us as Project Managers.\u003cbr/\u003e\u003cbr/\u003eElementary, Worldly Wisdom\u003cbr/\u003eMunger offers what he calls 'elementary, worldly wisdom'. These are a set of mental models, or ways of thinking about business, finance, and life. They will help prepare you to solve big problems, and succeed in your chosen career... in your case, Project Management.\u003cbr/\u003e\u003cbr/\u003eBorn in 1924, Munger is still going strong\u003cbr/\u003eHe still works in his businesses with vigor. Over ten years ago, he spoke to graduands at USC Law School, and opened with a joke:\u003cbr/\u003e\"Well, no doubt many of you are wondering why the speaker is so old. \u003cbr/\u003eWell, the answer is obvious: he hasn't died yet.\"\u003cbr/\u003e\u003cbr/\u003eIn that speech, he sets out many of his core ideas, that helped him. I'd like to share three of his ideas, which resonate well as tips for Project Managers.\u003cbr/\u003e\u003cbr/\u003e\u003cbr/\u003eLearn to think about problems backwards as well as forwards\u003cbr/\u003eProjects are often complicated. So know how complex systems work and the way mental constructs work. Munger suggests problems often get easier and are usually easier to solve, if you turn around in reverse.\u003cbr/\u003e\u003cbr/\u003eHis example is wanting to help India. So, instead of asking: \"how can I help India?\", you can ask:\u003cbr/\u003e\u003cbr/\u003e\"what’s doing the worst damage in India?\u003cbr/\u003e\u003cbr/\u003eWhat would automatically do the worst damage and how do I avoid it?\"\u003cbr/\u003eYou’d think they are logically the same thing, they’re not. Inversion like this will often solve problems which nothing else will solve. \u003cbr/\u003e\u003cbr/\u003eBe reliable. Being unreliable will cancel out your other virtues.\u003cbr/\u003eIf you’re unreliable it doesn’t matter what virtues you have, you’re going to fail immediately. So doing what you have promised to do should be an automatic part of your conduct. Munger tells us to avoid sloth and unreliability.\u003cbr/\u003e\u003cbr/\u003ePractice diligence. Sit down and do it until it's done.\u003cbr/\u003eAnother thing you need is a lot of assiduity. Munger likes the word assiduous because it means \"sit down on your ass until you do it\".\u003cbr/\u003eHe tells the story of two partners he chose for one part of his life, who had a simple rule for their business: \u003cbr/\u003e\u003cbr/\u003e\"Whenever we're behind in our commitments to other people we will both work 14 hours a day until we caught up.\"\u003cbr/\u003e\u003cbr/\u003eNeedless to say that firm didn’t fail! The partners died rich.\u003cbr/\u003e\u003cbr/\u003eOver to You\u003cbr/\u003eWhen you are 81 (as Munger was when he made that speech), will you be able to look back on a successful career and offer wisdom to the next generation? I hope so.\u003cbr/\u003e\u003cbr/\u003eI wonder what it will be...\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" aria-label=\"4.0 out of 5 stars\" role=\"img\"\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-solid fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003ci class=\"fa-regular fa-star text-action\" aria-hidden=\"true\"\u003e\u003c/i\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt class=\"educator-rating-title\"\u003eEducator Rating\u003c/dt\u003e\u003cdd\u003e\u003cdiv class=\"educator-rating-details\" data-path=\"/educator_ratings/rrp_data?resourceable_id=87394027\u0026amp;resourceable_type=Boclips%3A%3AVideoMetadata\"\u003e\u003cspan class=\"not-yet-rated\"\u003eNot yet Rated\u003c/span\u003e\u003c/div\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eMedia Length\u003c/dt\u003e\n\u003cdd\u003e4:45\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eGrade\u003c/dt\u003e\u003cdd title=\"Grade\"\u003e10th - Higher Ed\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSubjects\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=256\u0026amp;grade_ids%5B%5D=257\u0026amp;grade_ids%5B%5D=258\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=1\u0026amp;subject_ids%5B%5D=1319782\"\u003eCareer \u0026amp; Technical Education\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\u003cdd class=\"text-muted\"\u003e\u003ci class=\"fa-solid fa-lock mr5\"\u003e\u003c/i\u003e1 more...\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eMedia Type\u003c/dt\u003e\u003cdd\u003e\u003cspan\u003e\u003ca href=\"/search?grade_ids%5B%5D=256\u0026amp;grade_ids%5B%5D=257\u0026amp;grade_ids%5B%5D=258\u0026amp;grade_ids%5B%5D=259\u0026amp;search_tab_id=2\u0026amp;type_ids%5B%5D=4543647\"\u003eInstructional Videos\u003c/a\u003e\u003c/span\u003e\u003c/dd\u003e\n\u003c/dl\u003e\n\u003c/div\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eSource:\u003c/dt\u003e\n\u003cdiv class='preview-source' data-animation='true' data-boundary='.rp-info' data-container='.rp-resource-details' data-html='false' data-title='Online PM Courses gives you clear, practical Project Management knowledge, that is easy to understand and apply. 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