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

SECRET #7

Always Have a Plan

SECRET #7 When you fail to plan, you plan to fail.

Now be honest with yourself, are you good at making plans?

Managers who carefully make plans for their business and then follow through with their plans tend to be successful. In other words, if a business doesn't properly plan how to make and spend money, it could end up failing.

Planning well is also important in everyday life. You need to plan for things if you want to be successful—like doing your homework every night so you can get good grades.

So remember: The will to prepare is just as important as the will to win—so if you fail to plan, you plan to fail.

This seventh secret was really important to learn when the Secret Millionaires Club kids traveled to Beijing, China, to visit Lisa's cousin, BOHAI.

From the very start of their trip Lisa, Radley, Elena, Jones, and even Starty failed to plan properly.

They didn't bring umbrellas and Beijing was in the middle of the rainy season; they packed the wrong electrical cords so they couldn't charge their phones and computers; and, as if that wasn't bad enough, Starty short-circuited in the rain and Radley had forgotten to bring along a spare set of robot ...