Warren Buffett Reveals the Simple Secrets Behind His Successful Life and Incredible Wealth
It is generally accepted that as people age, they become wiser. While that may not be true for some people you know, it is certainly true for Warren Buffett. The billionaire is about to reach 90 years of age, and his words are growing more profound than ever.
Although, as a professional, Buffett is an investment guru, perfectly capable of giving advice when it comes to exploring the most lucrative money-making opportunities.
However, now, mostly because of his age and hence the extremely diverse experience that comes with it, Buffett has also become equally qualified to give advice which has the potential to change the course of businesses as well as our careers.
Make The Right Investment
At multiple occasions now, Buffett has maintained that we need to be very wise when it comes to investing our time in other people.
While it may seem like he is simply reiterating the age-old wisdom that you will only be as successful as the people you spend time with, Buffett actually gives a more practical approach to the concept.
For example, while talking to an audience at the University of Florida, Buffett asked the students to select any of their colleague who they believed would be the most successful in the future, keeping the hypothetical scenario in mind that they would be getting 10% of his or her earnings.
According to Buffett, the students were most likely to pick individuals with key leadership traits, such as honesty, generosity, and the ability to give credit where due.
There are two kinds of leaders: those who want to be served and those who want to serve others. If you are the CEO of a company, you should want to serve others.
This does not mean that you start doing all of the work while your subordinates take the day off. Instead, this means nurturing the people around you, even if you are in charge.
According to Buffett, a true leader is a selfless one. You don’t need to eliminate your ego to become selfless, rather you need to realign your ego so that it ultimately benefits other people. For example, an ego which is tied to the success of other people would be, what the Dalai Lama calls, a serving ego.
Acknowledge the Effort
It is very easy to acknowledge the contributions of those who bring in revenue for the company, such as the sales teams or those at the managerial level.
But Buffett highlights that a good leader is able to recognize the efforts made by all human resource working at all levels of an organization, whether it is in the mailroom or in the boardroom. It is important to acknowledge and praise the contributions being made by everyone.
Be Honest and Vulnerable
To the external world, a leader should definitely maintain a strong posture and show absolutely no sign of weakness. But to his people, a leader does not fear to show flaws and weaknesses as, according to Buffett, this is essential when it comes to building trust with people. Buffett believes that, when people see their leader being vulnerable, they become more expressive.
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