Billionaire Charlie Munger’s Time Management Secrets

by | Sep 28, 2022 | Blog

Let’s face it–running a business may feel like you don’t have enough hours in a day.

But the issue isn’t too few hours in the day; it’s how we choose to use those hours!

Becoming a great business person requires the best time management skills, so here are 6 Time Management tips you can practice everyday:

1. Touch it once, and move on.
2. Make a to-do list, but stick to the top 6 priorities of the day.
3. Allocate how much time you need to do each task.
4. Put it in your schedule. Scheduling time is the key to time management.
5. Prioritize your tasks according to importance.
6. Ask yourself, “Will it hurt me to throw this away?”

When you begin to practice these time management secrets, they can absolutely change your life!

Along with other skills, you need pig-headed discipline and determination, to be more successful in managing your time. If you can fully commit to these tips every single day, you will have more control over your time!

We hope this episode will help you understand more about how to improve time management skills and maximize its benefits for your business.


P.S. If you haven’t picked up your cop(ies) of the new edition of The Ultimate Sales Machine with limited time bonuses, visit: The Ultimate Sales Machine.


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*this transcript was mostly generated by AI, please excuse any mistakes smile

Amanda: Imagine what it would be like if you were suddenly thrust into managing or running a 50 billion company, do CEOs of giant corporations have more hours in a day than you do? Of course not, but they do need to be masters of this crucial competency time management. 

So my father got his big break working for Charlie Munger. You probably have heard of the billionaire co-chairman of Berkshire Hathaway. So I actually did a couple years back. I did a speaking engagement for Berkshire Hathaway and in the room, I asked them, how many of you raise your hand if you know who Charlie Munger is?

And it was like six people, which was so bizarre considering I was there talking about Charlie Munger, but anyways, so my father doubled the sales of nine different companies for Charlie all with a 12 to 15 months. And several of them doubled multiple years consecutively. And he was so busy. It was insane. 

 I’ll let you watch this clip of my father talking about it. 

Chet Holmes: When I was working for Charlie Munger and I’m running nine different, uh, divisions of a company and just outta control, I went, I was outta control. I’m like, I gotta. I gotta learn some time management. And some person said to me, Oh yeah, I took some of this kind of training when I worked for GE years ago.

It’s good to see it resurface. And I’m like, I wish I knew there was that kind of training when I, You know what I mean? I, all this stuff is from trial and error. This is from being in the trenches as a business owner or business runner and just having to figure this stuff out. So I’m at a desperation. I go to this time management, uh, seminar and they say, Here’s these forms.

And what we want you to do is over the next three months, we want you to track your time so you can figure out where you’re wasting it. And I’m thinking if I had time to do that, I wouldn’t need time management. So, you know, we’re gonna shortcut that process for you cuz good time management shouldn’t take a lot of time.

Does that make sense? Yeah. Okay, great. So this program here is five minutes per day, but it’s discipline all. It requires five minutes at the beginning of your day, and then it’s discipline all day. So do you have the discipline to stick with the program until it becomes habitual? Because that’s what’ll make it habitual.

Amanda: So we teach six time management secrets that can increase your productivity by 500%.

Just like my father said, I’m gonna give it to you really quick. You have to go to the book to see them all, but step number one, touch it once we lose weeks worth of vacation every year, just by rereading information. So when you touch. Do something with it and move on. Step number two, list your top six.

You wanna know what are the top six most important things you need to get done that day. Number three, allocate how much time it will take to do that task. This is critical because step number four, you have to actually put it into your schedule from eight to 8:45. I’m gonna do this from 8:45 to nine.

O’clock I’m gonna do this from 9 o’clock to 11 o’clock. I’m going to do that, right? So you’re allocating the time. And what you’ll find is when you list off all those things and look at your schedule. So often the biggest, most important things that need to get done, don’t get in there. That’s why you’re sliding it into the different steps.

So step number five is prioritize. So you wanna take the most important things and make sure that you fit them into a place where you can get them done in your day so that by the sixth step, you have to ask yourself, will it hurt me to throw this away? Because 80% of things that we store away are never referred to again.

So those are your top six time management secrets of billionaires. You can go to are blog or read the new edition of the ultimate sales machine to get more in depth on how those work and how you can manage your schedule better. Because like my father said, it’s only five minutes, but it will make a dramatic difference.

It will be the most effective day you’ve had in your schedule for quite a long time. If you follow these easy six steps

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