Warren Buffett is a well-known name all around the globe with an estimated net worth of $72 Billion. He is the world’s second-richest man after the owner of Microsoft, Bill Gates. Known as the most successful investor and being a maestro in his field, he has managed well to remain humble and down to earth. But, as he is known for his successful businesses and wealthiest investor all around, more people follow him because of his useful business and life lessons that every Indian should learn from.
There are certain aspects of Warren Edward Buffet’s life that most of the world might not know:
- He had bought his first share at the age of 11 but now he is of the opinion that he started late.
- At the age of 14, he used to deliver newspapers and purchased a farm with his own savings from his job.
- He bought a house 50-year ago, at the time of his marriage in the mid-town Omaha and this is the same he still lives in. Also, there is no fencing or walls around the house.
- He drives his own car everywhere he goes. He doesn’t have a chauffeur or any security guards for his protection.
- He owns the world’s largest private jet company, yet he never travels by private jet.
- It is very interesting that he owns 63 companies and still writes only one letter each year to the CEOs of all those companies prescribing their yearly goals. He never holds meetings with them nor calls them on a regular basis.
- Warren doesn’t carry a cell phone, nor does he have a computer on his desk.
These are only some of the interesting aspects of his life. His company, Berkshire Hathaway, operates some of the largest companies in the world including, Helzberg Diamonds, FlightSafety International, and NetJets. Being so rich, yet so humble are the characteristics that distinct him from the rest of the wealthy crowd. He always shares thoughts and lessons that he learned during his journey by the means of his writings and books. Given below are some of them:
- You only attain success when you do the work of your interests. If you don’t find your work interesting, someday you will get bored of it and achieve success would be much more difficult.
- According to him, “The difference between successful people and really successful people is that really successful people say no to almost everything.” He hates being ‘thumb suck’ and always advise people to be decisive.
- Be very particular about your monetary benefits from a deal, even if you are entering in to a contract with your friends, family or relatives. Be specific about the deal beforehand.
- Take rational decisions after analyzing the best and worst possible scenarios of every progressive investment decision you take. The quickly you analyze risks, the more effective your decisions would be.
- Don’t forget your roots. You should never forget your origin, no matter how much you grow. A large tree can only survive winds when it is well connected to its roots.
- Keep good company around you so that there is lots of positivity to keep you energized. Hang out with people who are more talented than you, then you know what your goal is.
- Always find a new income source for yourself. Depending on your job or business alone doesn’t really help you grow. Make investments which are really needed so that there won’t be a stress situation the time you need funds.
- Don’t borrow excessive loans and curb your business with the burden of interest. Save every penny you can as loans, hand-outs and credit cards won’t make you rich.
- Create your own standards to judge yourself. Others opinions do matter but not their standards to rate you. It would only put you under pressure.
- Patience is the key to success. You have to be very patient and confident with every decision you take. Success is a long and rocky road and only the ones with patience can taste success after learning various life lessons during the journey.
