What we should learn from Warren Buffett ?
Unique qualities to select the actions, and the fact that he become billionaire with his own strengths, makes Warren Buffett one of the most successful investors of our time. But the main part of his success came from the fact that Buffett believes in his abilities and refuses to follow the “herd”, says Financial Post.
In the following lines are some of the lessons that Oracle of Omaha, drawn from several books that have him in the foreground.
1) Participation is winning a half of the battle
Buffett says that in his youth he compete for a scholarship and at the interview was the only reason presented, so the three teachers who had to examine candidates have not expected too much and they gave him the scholarship without doing anything in this regard.
2) Hard work and integrity is not everything
Buffett says that a good rider will have good results at the track if it has a good horse, but it will never perform with a sick horse. The hard work and integrity does not solve everything, and people and economy have their share of importance when it comes to your business success.
3) Negotiate business as you choose your groom or bride
“In search of a business arrangement, you must adopt the same attitude as when choosing the groom / bride: it is good to be active, interested and open, but do not hurry,” says Buffett.
4) Think about how the future might look
The investor said that usually when he sees a business, he thinks how it might look in 10, 15 or 20 years, how they may be affected or how they choose to evolve and particularly he chose those that are more safe and does that will not change significantly, but will grow and expand their international business.
5) Humans are an investment
“Watch your colleagues, label the one that you might buy and who has features that you prefer and the ones you want to sold and whose characteristics do not attract yo. Notice them and take them into account, “says Buffett.
The investor says that when we can admire the qualities of individuals, we can assimilate them with a little practical exercise.
6) Make business with people whom you respect
Buffett says he refused business that seemed decent because he did not liked the people who had to work. “It’s like you marry for money.’s A bad is this idea under any circumstances but it is absolutely crazy if you are rich,” according to the oracle of Omaha.
7) The most important qualities you need to follow when hiring people are integrity, intelligence and energy, and if one person don’t have the first abillity, the other two “will kill you”.
8) Buffett also said that no matter how talented you are or how much effort you put into something, it takes time, so you must have patience.
9) Choose members who are better than you and you’ll move in the same direction.
10) “I have made many mistakes and it will be more to come. It is part of the game. You should take care that good things are superior to those evil,” says Buffett.
11) Another tip of the investor, is that people to do their homework werry good, because the greatest risk comes from unknowing.
12) Habits are hard to change, so in 20 years you’ll probably have the same habits that you equip now.