Firstly, I want to wish all of the fathers a Happy Father’s day; especially those who mentor us and show us the way. He is the father of business! He has had such an incredible impact on my life and countless others. I have always been a big fan of his and have even implemented many lessons he instilled in me.
The “most successful investor of the 20th century” has a thing or two to teach us about being a great leader. Warren Buffett is a famed philanthropist, business magnate, and strategic investor. He is the CEO and biggest shareholder of Berkshire Hathaway, and someone who consistently ranks among the richest people in the world. He’s smart, business savvy, and a gentleman who does it all with humility.
These are the four biggest lessons I learned from Warren Buffett, the father of business.
1. Invest in yourself. One of the most valuable lessons Warren Buffett addresses is that investing in yourself is the best thing you can do. Anything that can help to improve your talents is worth doing, since nobody can tax it or take it away from you. If you’ve got talent and you’ve maximized it, you have a tremendous asset that can give you a superior return, no matter what comes your way. Read good books and resources, take classes (formal or informal), tune in to webinars, and listen to podcasts. But don’t stop there – you’ve got to apply what you learn and take action!
2. Invest early. When you invest early, you benefit from compounding interest. Warren shares countless examples where compound interest can significantly boost investment returns. The longer your money is invested, the more you can potentially grow your assets.
3. Become a communicator. Warren shared that he was not always comfortable speaking in front of others. So, he made the decision to attend a Dale Carnegie course to become a better speaker and communicator. You need to be able to communicate with your employees, co-workers, and customers, but it’s equally as important to be a great listener.
4. Help others. We may not have the financial wealth that Warren Buffett has created for himself, but we all have the same amount of time in a day. If you can find the time to coach one person and help them along their career path, it will make a significant impact on their life and yours.
This father’s day, I would like to applaud Warren Buffett for the many lessons he taught me, and to thank him for taking the time to read my book Three Word Meetings!