Warren Buffet is one of the most famous, rich, and influential business people in the world. However, he also taught us that when you’re successful in something, it doesn’t happen overnight. Warren Buffet once said, “When one has done well, he should not be content with the fact that he has done well. He should be greedy for more.” That quote may be good for Warren Buffet’s bank account, but it’s good advice for any business. You should want to be consistently making money and growing your business.
Warren Buffet is one of the most successful businessmen and investors in the world with a net worth of approximately 45 billion dollars and counting. Warren Buffet was born on February 25, 1930, in Omaha, Nebraska, to a father that owned a grocery store and an unknown mother. He passed away in 2007.
Warren Buffett is a living legend of business, in August he will turn 91 and is the sixth richest person on the planet according to the Forbes 2021 Billionaires List with a net worth estimated at 96 billion dollars.
The Billionaires Club
Above him are Mark Zuckerberg (97 billion), Bill Gates (124 billion), Bernard Arnault (150 billion), Elon Musk (151 billion) and Jeff Bezos (177 billion).
The famous investor was born in Omaha, Nebraska, USA, and discovered his passion for making money at the age of seven when he read a book that would change his life: “A thousand ways to earn $1,000”. At the age of 10, he visited the New York Stock Exchange and at the age of 11 he made his first investment in the stock market.
In his adolescence he earned about 175 dollars a month, more than many adults of the time, at 16 he already had 53 thousand dollars in his account and most of his wealth was obtained after he was half a century old.
There is no doubt that longevity (and compound interest, of course) is one of the key factors in his success, but there is an investment that was key in his career and of which he himself has spoken in different spaces.
Invest in yourself
For Warren Buffet, the best investment you can make is in yourself because he himself did it when he began his career. Knowing that public speaking made him sick, and that he wouldn’t get far if he didn’t do something about it, he decided to take the bull by the horns.
At age 20, he invested $100 to take a public speaking course at Dale Carnegie while studying at Columbia Business School. His classes lasted only a couple of months, but they had a lasting impact on his life.
“If you can’t communicate, it’s like winking at a girl in the dark: nothing happens. If you invest in yourself, no one can take it away from you,” he once said.
Many students over the years have received that same advice from the so-called Oracle of Omaha: if you learn to communicate better, both in writing and orally, you will increase your value by at least 50%.
In order not to lose the knowledge acquired, Warren decided to take the next step and sought to teach at the University of Omaha, because if he did not lose his fear of speaking in public, he would return to the starting point.
To this day, the sixth richest man in the world considers that to have been one of the best investments he has ever made.
Although there are many factors that have contributed to his business success, there are undoubtedly two aspects that he has been able to take full advantage of and that are the engines of his wealth: time and making decisions that will bear great fruit in the long term. Needless to say, both are available to everyone.
