These Famous Businessmen All Agree on One Thing

What do Roger Salam, Tony Robbins, Warren Buffett, Randy Gage and even Albert Einstein have in common?

They all recognize the importance of asking questions.

In fact, the answers to the questions are not even as important as the questions themselves. Whether you’re operating your business or evaluating investments, asking the right questions guides you to take the right actions.

TONY ROBBINS ON QUESTIONS

Roger Salam’s mentor Tony Robbins was the first to teach him about the importance of asking the right questions. Tony Robbins said, “The quality of your life is the quality of the questions you ask yourself and others on a regular basis.”

How so? Consider the questions that other business leaders regularly ask, and you’ll see.

WARREN BUFFETT ON QUESTIONS

When Warren Buffett is evaluating an investment, what is the most important question he asks?

It’s not the price of the investment. It’s not the risk, or the timing, or how much money he can gain. The most important question he asks is, “what is the opportunity cost?”

You only have a finite amount of time, and you only have finite resources at any given moment. When choosing an investment, you should consider what opportunity you’re giving up. Is it worth your time and your money to make that choice?

ALBERT EINSTEIN ON QUESTIONS

What’s even more important than the answer to the question is asking the right question.

Albert Einstein said, “If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask, for once I know the proper question, I could solve the problem in less than five minutes.”

This is a lesson that Roger Salam learned when meeting his friend Randy Gage for lunch in San Diego.

RANDY GAGE ON QUESTIONS

Over lunch, Roger was asking Randy for advice. The problem is that he was asking the wrong questions.

Randy reminded him, “If you’re asking the wrong question, the answer doesn’t matter.”

If you get the right answer to the wrong question, is it going to help you at all? It’s irrelevant and it’s no more helpful than getting a wrong answer.

ROGER SALAM ON QUESTIONS

Having learned this lesson, Roger Salam now reminds his students, “If you’ve failed in anything in life, you’ve first failed at asking the right questions.”

The investment that makes you rich could be right under your nose right now. But unless you ask the right question, you may never know it’s there.