If there is anyone worth listening to about success, it has got to be Warren Buffett.
Not only is he one of the richest men in the world, but he is also one of the few billionaires who is a part of the Giving Pledge – a group of ultra-wealthy people who vow to give away 90 percent of their money to charitable causes.
Fortunately, he is not just generous with his wealth. The octogenarian also likes to share his hard-earned wisdom.
Here are a few of the most thought-provoking secrets to improving your career from The Oracle of Omaha, as he is known in investment circles:
Follow your path and ignore the noise
Warren Buffett is primarily known as the world’s greatest investor. Naturally, most of the wisdom he shares will be pulled right out of his investment playbook.
As an investor, he is famous for avoiding hot markets. In 2019, instead of joining the rest of the investment world in investing in the S&P 500, he chose to buy back much of the stocks in his investment firm, Berkshire Hathaway.
His discipline in following his path and rules has made him an excellent investor. But this is not only relatable to investing, it can be applied to any career path.
In a sense, his adherence to his philosophy tells us that there is no replicable path to the career you want.
Invest in yourself
“Invest in yourself” is one of the most oft-repeated investment advice. Warren Buffett, however, takes this advice even further by being more specific.
He suggests that the first self-investment that you make is in your communication skills. “The one easy way to become worth 50 per cent more than you are now — at least — is to hone your communication skills — both written and verbal,” he says in his LinkedIn video.
A business thrives when workers know how to communicate effectively with each other. Communication skills, therefore, is a sure way to make yourself an effective member of any organisation you wish to join.
For Buffett, communication is such a valuable tool that he has his $100 Dale Carnegie communications course diploma framed in his office.
Surround yourself with people you admire
It is not a secret that Warren Buffett is a close friend of Microsoft founder and philanthropist Bill Gates. The Berkshire Hathaway chairman even followed Gates’ lead in the Giving Pledge initiative.
In a lot of ways, this is not a surprising move because Warren Buffett believes that whom you associate with has a lot to do in what you become. And he is not simply talking about friends here; he also pertains to his relationships.
His wife, who has supported him throughout the years, has been instrumental in his success. Marrying Astrid Buffett, he claims, changed his aspirations for the better.
Seize opportunities but don’t be afraid to let go
Warren Buffett has had his fair share of investing mistakes in his career. In Google’s early stages, for example, he decided not to invest. In just a few years later, Google’s shares were valued at trillions of dollars. He showed his frustration in one of the annual shareholder’s meetings of Berkshire Hathaway by simply saying, “I blew it.”
But even a trillion-dollar mistake was not enough to deter him from seizing opportunities. He famously struck a $5 billion deal with Goldman Sachs in the aftermath of the 2008-2009 housing market collapse. The deal has been a resounding success for him and Berkshire Hathaway.
If he had let the deals he let by like Google affect his judgement, he might never have the mettle to close the deal with Goldman Sachs. So, do the same for your career. Take chances and do not let your past mistakes keep you from grabbing opportunities available to you.
Take good care of yourself
Warren Buffett is infamous for loving McDonald’s. It would have been another story if the octogenarian said he liked it as an investment, but that is not the case. He eats McDonald’s drive-thru for breakfast every morning.
However, he counteracts it with an exercise routine that not a lot of 20-year-olds can emulate – reading. And, he reads religiously every day, claiming that he reads 80 percent of his day. Surprisingly, doctors agree that reading burns off calories.
He also adds physical exercise to his routine from time to time. He says, “either you eat better or you exercise.” He chose to exercise.
Don’t let money be your barometer for success
Most importantly, Buffett shares success should not be based on how much money you have earned. Instead, he believes it is measured by whether the people close to you are happy and love you.
