Last week, Berkshire Hathaway Chairman and CEO Warren Buffett joined the $ 100 billion wealthy club, which includes people like Jeff Bezos, Elon Musk and Bill Gates.
One of the largest investors says that long-term success is achieved through smart decisions and “investing in life.”
Here are four habits that, according to Buffett, distinguish successful people from others.
- Master the ability to set boundaries
Buffett has repeatedly said that the most expensive commodity of all is time. That is why he believes that we need to distinguish between important and unimportant things and say “no” more often. One of Buffett’s famous quotes reads: “The difference between successful and really successful people is that really successful people say ‘no’ to almost anything.”
2. Invest in your personal development
Buffett is often asked what assets should be invested in the most? In an interview in 2019, he said: “The best investment you can make is in yourself.” This, according to Buffett, means never stopping to learn, because this is the “secret sauce of success.” More than once the investor has shared that he spends 80% of his day reading – books, financial news, newspapers, reports, etc ..
3. Copy and master the leadership behavior of the best managers
“Much of what you achieve in life depends on who you choose to admire and who you copy,” Buffett said. According to him, the best management practices he has adapted for his own companies include giving freedom to employees, reasonable delegation of power and, above all, integrity.
4. Build a good reputation
When it comes to building a good reputation, there are a few things that are worth prioritizing according to him. These include establishing trust, transparency and fairness, offering high quality products and services, treating others with dignity and respect, and communicating clearly.
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