Warren Buffet, arguably one of the greatest investors of all time, has given numerous speeches on the secret behind his success. Below is a collection of some of his cardinal rules for success. They have helped him make billions of dollars over the years – I’m sure you can learn a thing or two from them as well.
1. You’ve got the brain power, you’ve got the energy – now develop the habit of success. “The chains of habit are too light to be felt until they are too heavy to be broken.”
2. Invest in yourself – No one can take that away from you. You can lose your job, all sorts of things can happen but if you’ve got a talent that you can use, you’ve got a terrific asset. It doesn’t mean that you don’t have to go to college, but anything you can do to improve upon your current skiIl set will prove to be a great investment.
3. There’s more to success than intellect. You must pursue your passion, because the only way to find true success is to get up everyday and do what you love.
4. Learn from mistakes – preferably those made by other people.
5. Never look back. There’s so to much look forward to that there’s no sense in dwelling on the past because it won’t make any difference. You can only live life forward.
6. Know your strengths – some people are better at certain things than others. A lot of people will be better than you in many things. That doesn’t make you a failure.
7. Know what you do understand and what you don’t understand – what I call defining your circle of competence. Everybody has got a different circle and what matters is not how big it is but staying inside the circle.
8. You must have emotional stability– you must be willing and able to think independently and when you’ve made up your mind, not be swayed by what other people think. You must be able to follow your facts and trust your reasoning and that’s what’s tough for a lot of people.