Warren Buffett's Keys to Success
One of today's most celebrated and beloved successful men is Warren Buffett — and for good reason. He is dominating in a market where the playing field is leveled for all in terms of information. Anything he reads of public companies is accessible to everyone that too can identify and take advantage of winning opportunities.
So why is no one else is doing it? Is there something much more than just information as an ingredient to mega success? Surely there is, and for Warren Buffett, it’s easy to see that he possesses these two key ingredients:
2 key ingredients
1) Patience
- Long-term compound growth
2) Consistency
- Read a ton of valuable content every single day
Here’s the best part: We don’t need a father in congress, nor an ivy league education to possess these same qualities. The playing field is leveled for us once again. If you study the lives of anyone that is successful, one thing becomes clear; they all have regular habits that they remain consistent to daily that gradually brings about what appears to be magical success in life, business, relationships, etc.
“People tend to over estimate what they can do in a day, and under estimate what they can do in a year.” - Tony Robbins.
Take aways
Behind every successful man, is a successful philosophy, and some of my favourite take aways from 'Becoming Warren Buffett' are the following:
- Even since he was a young child, he had a hunger to do business, and he read what he could about the subject. His first book on making money as a child, “Thousand ways to make a $1000”, exemplifies his thirst for learning, and his devotion to reading.
- As an adult, every single day all he does is read, think, and read some more. It’s been said he reads up to 2,000 pages a day sometimes.
- He and Bill Gates both feel that most important ingredient to success is, “Focus”. Become obsessed with your topic.
- "Defining what your game is - where you are going to have an edge, is Enormously important." - Warren Buffett
- "He is a genius and Geniuses are by default, lonely and isolated" - Warren's late wife, Susie
- "The biggest thing in making money is time, you don't have to be critically smart, you just have to be patient.” - W.B.
- "It's a very strange thing, love. You can't get rid of it. If you try to give it out, you get more back. If you try to hang on to it, you lose it." - W.B.
- "The world is a great movie to watch, but You don't want to sleep walk thru life. The important thing to do is to Look for the job you would take if you didn't need a job, and life is wonderful, you jump out of bed in the morning because you're really looking forward to the day, I have for over 60 years, been able to tap dance to work, just because Of doing what I love doing, I just feel really lucky" - Warren Buffett
If you haven’t seen this HBO special yet, "Becoming Warren Buffett", we recommend you do. Anything Warren Buffett life related is packed with wisdom.
Feel free to share your thoughts below.