Words of Wisdom from Warren Buffet- 1
Warren Buffett is the third richest man in the world, with a net worth of $47 billion. Here, I shares his keys to success (one of them being that money, fame or attention is not the only way to be successful). Buffet knows all about success– he was this century’s most successful investor and also named one of the most influential people in the world by Time Magazine. Here are his words of wisdom for you:
1) Find your passion
You’re a lucky person if you what you do for a living is also what you’re most passionate about. Not all of us get to follow our passions. If your job and your passions coincide, you’ve been very blessed. Be grateful for it and go to work with a smile everyday.
2) Hire well
Buffett says when you are tasked with hiring someone, you should look for three things: integrity, intelligence and energy. If you find a candidate with all three, don’t let them go. You’ve found a good one.
3) Don’t care what others think about you
Buffett says the way he stays on top is by only talking about things he knows about– sticking to what he calls his ‘circle of confidence.’ If he’s wrong, he’ll admit it and he’ll go back and look at the facts. But, it’s important to not be overly concerned with what other people are thinking about you. It’ll only drag you down.
4) Read, read, read
The best way to educate your mind and stimulate your brain is by reading all the time. Reading forces you to concentrate, to process information and to think deeply about subjects. Buffett says he reads about 5-6 hours every day– newspapers, magazines, books, manuals, reports and so forth.
5) Have a margin of safety
Buffett makes a comparison of driving a truck weighing 99,000 pounds across a bridge that can only handle 100,000. It’s much safer to find another bridge that can hold much more weight. The same can be said for investments and risks. Don’t run the risk if you have a high chance of breaking the bridge.
Hope you found this useful…I have a few more tips from Warren Buffet and will be sharing these soon.
Photo credit: Iculig | dollarphotoclub