SUCCESS STORY: 5 LESSONS FROM WARREN BUFFET

SUCCESS STORY: 5 LESSONS FROM WARREN BUFFET

WARREN BUFFETT CEO OF BERKSHIRE HATHAWAY

Warren Buffett is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway and one of the richest men in the world.

Buffett has made his billions through making smart investments in the world of stocks and shares, essentially making him the smartest investor to ever walk the planet. Here are some of Warren Buffett’s success lessons

1. Spend Your Money Wisely

The first of Warren Buffett’s success lessons is to spend your money wisely. Try not to waste your money on the things that you don’t need, and spend it wisely on the things that you do need.

Also, make sure you save so that you can invest in yourself later on when you’re ready to.

2. Have a Clear Definition of Success

Warren Buffett doesn’t really measure his success based on the amount of money he has. There was actually a point in his life when he was willing to give almost all of his cash to charities.

Instead of gauging success based on wealth, Buffett states that success is more about having lots of people around you that love you and that you love too, especially as a man of his age.

3. Dare To Be Different

It’s normally always the people that dare to be different, who are discovering the next big thing which people fall in love with.

Warren has stated that the average person will be the one that is copying other people, but he didn’t want to be average. He wanted to be different and judge himself by his own standards.

4. Reinvest Profits

In business, reinvestment is always a great key to consistent growth. This was something that Warren learned fairly quickly.

One of his first ventures was purchasing a pinball machine with a friend and putting it in a local barbershop. He didn’t go out and spend his share of the profits from this machine on stuff he didn’t need.

5. Always Assess Risks

Another of Warren Buffett’s success lessons is to assess risk. When you’re an entrepreneur, taking risks is essential, but you should always be assessing the risk that you are thinking of taking.

When you assess risk and weigh up the potential advantages to disadvantages, it will always help you make a better choice for yourself.

If you buy things you don’t need, you will soon sell things you need. 
— Warren Buffett In an interview with wealth Gorilla

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