Secret Millionaires Club: Warren Buffett's 26 Secrets to Success in the Business of Life

SECRET #23

Be Someone in Demand

SECRET #23 Prices are determined by supply and demand.

You're doing a great job following all these secrets! Here's a basic one about business—and life!

Businesses sell—or “supply”—products at prices determined by how many buyers want it—that's called “demand.” If a lot of buyers want to buy the product, the seller can charge more money for it, and that's called “the Law of Supply and Demand.”

In life, we are all subject to the simple law that there are two things that everyone can supply without limitation: knowledge and love. Do your best to share both of these with others—especially your family.

Remember: Share your knowledge freely and be lovable. In other words, supply all the positive things in life to others and you will definitely be in demand.

Secret Millionaires Club learned about the secret of supply and demand on the day four ordinary-looking black and white puppies wandered into their headquarters.

When the frisky puppies became too much to handle, Radley, Starty, Lisa, Jones, and Elena decided to give them to PETE, the owner of PETE's PET STORE.

It turned out that the puppies had actually escaped from the pet shop and Pete was delighted to get them back. But try as he might, Pete couldn't sell a single black and white pup.

The Secret Millionaires Club kids tried everything they could think of to help Pete sell the dogs to a good home, ...