This name need no introduction, as he is one of the most influential business man & investor of the 20th & 21st century so far. His worth as per forbes, at this point of time is 85 billion US dollars. He is the symbol of American capitalism.
Here is top ten rules from his life & successful business strategies:
Read, read & read:
Every big name out there in business world now a days have one thing in common, they read a lot. For instance WB in one of his interview said he read 5-6 hours a day. Reading includes anything from current affairs, business, professional magazines, biographies, history to annual reports.
Find your passion:
Find passion in whatever you are doing, it may be in music, books reading, sports, farming, philanthropy; simply mean anything that connects your inner self with anything out there. We must feel lucky to have born in these times, as now anyone can make his livelihood or even can build empire by just doing anything he habitually like.
Don’t care what other thinks:
Don’t care if people disagreed with you, as long as you know the facts & don’t go into things that you don’t knows. Stay within your circle of competence. Accept your limitations & stay around your spots. Anyone wants to be successful, in any field of life he or she must have emotional stability.
Have a successful role model:
Find in your field of interest anyone who can motivate you, who can inspire you, who can lead you, who can set examples for you, who can build self belief in you, who can sooth you, who can channelize your powers. Because, if you admire someone, then you try to become like them.
Have a margin of safety:
Don’t burn all, left some and before that check before indulging into anything. Say if you have some savings for any business idea, 1st thoroughly check your facts about, connect your interest & research your market, then take baby steps. Don’t compare your 1st step to someone else’s 20th step. Be patient, stay straight & consistent.
Have a competitive edge:
In modern times with more take out competition, everyone is looking into someone else success factor & trying to take out anything he can to earn your hardworking & market. Therefore, aim is to create some fence to castle, which may be lower cost, talent acquisition, patent rights, organizational design or anything which can create competitive advantage on others.
Always be competing:
Biggest failures in life or businesses have one thing is common, which is complacency. You have to create sense of restlessness, that someone is after you & you always want to be on the move and have to stay ahead of them. Because, this belief that tomorrow is more beautiful than today, is the key to move on.
Schedule for your personality:
Routine your life & mix it with what you love to do. Don’t stuck into 9 to 9 job or one thing type of business. Because, this may serve your purpose temporarily, but in a long run it may destroy you, your energy, your passion, your health etc. Therefore, schedule around yourself with anything like self meditation, music time, walk, reading etc. This will fix your personality & aptitude.
Three must have to consider while hiring peoples; integrity, intelligence & energy. All must be there in a person, there is no trade off in between them. Say one is intelligent & energetic but don’t have integrity then, there is high risk of fraud, lack of transparency & continuous surveillance.
Give unconditional love:
The sense of unconditionality can never be un-noticed, nor remains unpaid. Therefore, from relatives to colleagues, from home dealing to business dealings, always provide your sincerest. For instance if you have passion for gardening, then don’t thing about earning big from it, provide gardening your unconditional effort & love. It is not guaranteed but your this unconditional love can makes you big bucks as your by product.
Author Notes: These inspirations were taken from his different interviews & books. Further commentary in simple language, is added for layman understanding.