!Warren Buffett's Golden Tips to Achieve Your Goals and Succeed
“If you do not find a way to earn income while you are sleeping; You will work until you die.”
This is what was once said by Warren Buffett, the genius of economics, and one of the richest men in the world who was known for their wisdom, as well as for his humility and intelligence beyond description.
Warren Buffett's name is probably familiar not only to investment enthusiasts, but to
? many people inspired by his life story and economic career; Who is Warren Buffett
? Who is Warren Buffett
Warren Buffett was born on August 30, 1930, in the US state of Nebraska, to his father, a stockbroker, and became a member of Congress. Buffett demonstrated a remarkable ability to do big calculations with amazing speed at an early age. He started buying cheap stocks at the age of eleven, and graduated from high school at the age of seventeen.
He had made about $5,000 from the newspapers he sold in in 1947, and after attending the Wharton School of Business at the University of Pennsylvania, Buffett began to complain that he knew better than his college professors! He only stayed there for two years, moved to the University of Nebraska-Lincoln, and graduated from college in just three years, even though he was simultaneously working full-time.
Buffett's book, "The Intelligent Investor" by Benjamin Graham, made his mark on Buffett's soul, prompting him to attend Columbia Business School, where he was taught by the famous investor Graham, who was also a teacher there, and later worked with Buffett as a bond analyst at Graham-Newman Company.
his achievements
He founded Buffett Partnership Ltd in 1956, and thanks to the skills he learned from his teacher Graham, Warren Buffett was able to identify companies that were undervalued, which made him a millionaire, and Berkshire Hathaway, the textile company, was one of the companies that Buffett succeeded At her estimation, he began accumulating its shares and was able by 1965 to own this company.
Despite its success, he dissolved his first company, Buffett, to develop Berkshire Hathaway, where he bought shares in energy, insurance, and media such as the Washington Post.
Later, Warren Buffett was able to turn poor investments into very successful and profitable investments, and became a director of several companies such as Coca-Cola, Gillette, Graham Holdings and Citi Holdings for Global Markets. Several companies were subsequently acquired by Berkshire Hathaway.
It is worth noting that Buffett donated his entire fortune to charitable causes in 2006. He is one of the most generous people, and as a pro-democracy, in 2016 he launched the Drive2Vote campaign to encourage people to exercise their suffrage.
We are all looking for successful people, to learn from their experiences, follow their example, and learn from their mistakes, here are the golden tips that Warren Buffett enriched us with to achieve success:
Find your passion
It is very important to know what you are interested in and fond of? What excites you? You may discover your tendencies at an early age and you may be late in discovering them, the important thing is to find them! If passion is known, boredom dies and determination revives. Warren Buffett's finding of purpose is what enables him to continue to be in power despite his age. He discovered his purpose at the age of seven when he borrowed a book from his school called A Thousand Ways to Earn $1,000 which was a flash of inspiration to him, and he's going in that direction for the rest of his life.
Leave other people's beliefs aside
Warren Buffett says he doesn't get upset when people don't agree with him on something. He says frankly that there are many areas that he does not clearly understand, so he avoids arguing and discussing them, of course he is right! No one can master all the sciences, yet there are many facts that he understands well, and when someone disagrees with him about them, he returns to study these facts. This is confidence far from arrogance.
Choose your employees carefully
If one of your employees is dishonest, Buffett jokes, he's better off dull and lazy than alert and polite. From this joke, you can conclude that the most important characteristic when choosing your employees is integrity, followed by intelligence and activity.
Read, read, read
Buffett stated that he is fond of reading, as he reads about 5-6 hours a day, and he is interested in newspapers, magazines and world news, as he reads at least 5 newspapers a day, and he also loves to read books and draws inspiration from biographies.
Take yourself a margin of safety and don't take risks
This is what Warren Buffett has always advised after a great deal of experience in the world of investment, and he explained it through an example that a truck with a payload of 9900 kg, should cross a bridge that bears 20,000 kg instead of a bridge that carries a capacity of 10,000 kg.
Be a smart competitor
The most important advantage of being a strong competitor is that you produce at the lowest costs. Capitalism according to Warren Buffett is that competitors will try to take over your business. There are other ways to compete such as having better resources, or being talented in many areas.
Choose your schedule to fit your reality and personality
You may have to attend meetings, or supervise some things according to what the nature of your work imposes on you, but Warren Buffett stated that his day is not organized, because his business has someone who runs it, and his main task is to obtain capital, and most of his time goes to reading, but he He was happy working with a few people he loves and enjoys working with. By identifying the nature of your personality if you are open, for example, you can set your schedule to suit that.
Keeping competitive is very important
Glorifying and relying on the past is dangerous, even if your company is a leader. Buffett once said that most companies die and lose out of complacency . The company continues to move forward and not stand still even if the results are satisfactory.
As I write these lines, the CEO of Nokia came to my mind when he cried with a sigh when Microsoft took over Nokia, and said at the time: “We didn’t do anything wrong, but we somehow lost,” even though Nokia was a respected company and its employees did nothing wrong in their business. However, the world had changed very quickly, and their opponents were very powerful.
set an example
Warren Buffett was very impressed and influenced by Mr. Benjamin Graham, and although he had read many books on investing, they did not affect him as much as Graham's writings did, and after studying under him, Buffett offered Mr. In it he named his second son after his teacher Graham.
Be love without limits
Buffett gratefully stated that his father gave him boundless love, and considered love to be the most precious gift that parents can give their children. This love is the first nourishment for every step in your child's life.
In closing, I would like to point out that Warren Buffett, unlike the wealthy, left only a small portion of his fortune to his sons, so that they could be self-reliant and influential in society. Despite his immense wealth, Warren Buffett remains humble and humane, truly an inspiring figure worthy of admiration and respect.
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