Connect with us

Success Advice

7 Secrets Behind Warren Buffett’s Billions

Published

on

Warren Buffett Billionaire Investor

Warren Buffett is incredibly successful, and he’s built a mountain of wealth.

Today, he’s the second richest person in the world, worth an estimated 73 billion dollars. That’s greater than the combined GDP of many countries.

Want to grab lunch with the man? That’ll run you $2.2 million, based on a 2014 bid by a man in Singapore.

Even more mindboggling, if you had invested just $100 in Warren Buffet’s Berkshire Hathaway fund in 1965, you’d now have more than $1.2 million stored away, off that tiny investment.

With a track record in wealth creation like this, Buffett’s life undoubtedly has lessons that we can all apply to amplify our own riches.

Below, we’ll uncover 7 secrets behind Buffett’s multi-billion-dollar wealth engine.

These are the exact strategies and techniques Buffett uses.

So pay attention.

No matter where you are on the investing spectrum, you can implement these wealth-building techniques and begin reaping the rewards in your business and life today.

 

The 7 Secrets Behind Buffett’s Billions:

 

1. He reads a lot

Buffett believes reading works a lot like compound interest. You build your knowledge base, day-by-day, by adding more information. And over time, that compounds upon itself. Until one day, you’re surrounded in a wealth of ideas, strategies and concepts.

Buffett consumes an average of 500-600 pages per day (that’s a really dense book!), and he credits reading for his ability to make smart investment decisions.

But for Buffett, it’s not about the number of pages he ingests. Rather, Buffett knows you must apply critical thinking and deep analysis to the materials you study.

That’s how you take your knowledge and money game to a whole new level, and you reap the dividends from this intellectual investment for years to come.

 

2. He’s methodical in his approach

Impulse decisions often fail, especially with investments. But Buffett spends hours every day researching, writing, and exploring new economic theses. So when it’s time to make a rapid-fire conclusion, he’s already prepared.

In business and investing, it’s important to hustle and capitalize on opportunities. But Buffett’s method teaches us that we should strategically hustle.

That way we’re not scrambling and taking un-calculated risks out of desperation.

 

3. He’s not an overnight success

Buffett’s billions are the product of years of hard work and mountains of effort. In fact, many people don’t know this, but Buffett started investing when he was just 11 years-old. Talk about taking advantage of investing early!

Also, Buffett’s first business was earning fees off pinball machines that he placed in local businesses as a teenager.

Many like to imagine Buffett’s business acumen and stock-picking talent to be magical in some way.

The reality is he’s worked incredibly hard, over many years, to earn every penny he’s worth. All 73 billion of them.

 

Warren Buffett Patience Quote
 

4. He relies on the numbers

Everybody has an opinion and a reason for telling stories a certain way. But rather than sifting through other people’s ideas, Buffett turns to the hard data and facts.

When he does this, he’s able to make smarter decisions, more consistently. Looking at the numbers also gives Buffett an advantage. He’s able to test new investments ideas, before anyone else comes to the same conclusions.

His actions are not clouded by the biases of others, and relying raw numbers continues to provide him with ridiculous returns.

 

5. He’s a master of influence

Warren Buffett said that the single most valuable skill in his life is the ability to influence and persuade people. When he first started out as an investor, he was such an awful speaker and persuader that he took a Dale Carnegie course to learn how to communicate with people. It changed his life.

Without influence, Buffett wouldn’t be able takeover companies, to buy investors out, to convince people to work for free, or to negotiate multi-billion-dollar deals. Learning this skill of communication was so impactful that, today, the only diploma he has on his office wall at Berkshire Hathaway is the one from the Dale Carnegie course. It’s one of his proudest achievements.

 

6. He’s persistent

In the face of fear and uncertainty, Buffett has taken enormous financial risks to buy stocks, invest in foreign countries and bailout companies on the brink of bankruptcy.

Many investors lose belief and get nervous when times are tough.

But Buffett won’t give up; he won’t take no for an answer. He keeps pushing himself and his investments to grow faster, to be more, and to outpace everyone else.

Buffett knows that the best investments come from taking calculated risks over long time horizons. He’s not in investing to make a quick buck, here and there, by trading in and out of stocks.

He’s in it for the long-haul, and his patience continues to pay off for him. Among investing legends, he has the longest track record of beating the market average. No one else is even close.

 

7. He lives below his means and invests

This one almost goes without say, but it’s a really important point. Without cutting expenses and saving his money, Buffett wouldn’t have the opportunity to beat the market through the years and earn billions of dollars.

After decades of living this way, Buffett never has to worry about money again. In fact, he’d have to spend nearly 200 million dollars per day to lose his net worth in a year. That’s like buying a mansion in the Hamptons and a private jet for 365 days straight, before losing it all!

Needless to say, he’s set for the rest of his life. This is the foundation for Buffett’s long-term success, and for anyone aspiring to establish wealth, this should be an essential part of their financial plan.

 

What do you think? This is what I found in my research. But is there anything I missed that you see the wealthiest people doing? Feel free to let me know in the comments section.

Rob Allen is a direct-response copywriter and marketing consultant. He’s sold over $50 million worth of products online. Soon he's launching a podcast, where he's going to interview the world's top digital marketers to see what's working and increasing conversions right now. To get on the waiting list and receive pre-launch bonus materials sign up here.

Advertisement
4 Comments

4 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Success Advice

20 Ways You Can Become a Powerful Communicator

Published

on

Emile Steenveld Speaker and Coach

Some people seem to naturally know how to effectively communicate in a group setting. They can express themselves clearly and listen attentively without dominating the conversation.

Being a powerful communicator is important for several reasons, including building and maintaining relationships, achieving goals, resolving conflicts, improving productivity, leading and influencing others, advancing in your career, expressing yourself more confidently and authentically, and improving your mental and emotional well-being. Effective communication is an essential life skill that can benefit you in all aspects of your life.

But, don’t worry if you don’t naturally possess this skill, as effective communication is something that can be developed with practice, planning and preparation.
 

1.  Listen actively: Practice active listening by giving your full attention to the speaker and responding to what they are saying.

 

2. Use “I” statements: Speak from your own perspective and avoid placing blame or making accusations.

 

3. Avoid assumptions: Don’t make assumptions about what the other person is thinking or feeling.

 

4. Be clear: Express your thoughts and feelings clearly and concisely by getting to the point and avoid using jargon or overly complex language.

 

5. Show empathy: Show that you understand and care about the other person’s feelings.

 

6. Offer valuable insights: When speaking in a group, provide a valuable takeaway or actionable item that people can walk away with.

 

7. Be an active listener: Listen attentively and respond accordingly, incorporating your points into the conversation.

 

8. Choose the right time: Pick the most opportune time to speak to ensure that you have the group’s attention and can deliver your message without interruption.

 

9. Be the unifying voice: Step in and unify the group’s thoughts to calm down the discussion and insert your point effectively.

 

10. Keep responses concise: Keep responses short and to the point to show respect for others’ time.

 

11. Avoid unnecessary comments: Avoid commenting on everything and only speak when you have something important to say.

 

12. Cut the fluff: Avoid being long-winded and get straight to the point.

 

13. Prepare ahead of time: Sort out your points and practice them before speaking in a group.

 

14. Smile and be positive: Smile and nod along as others speak, to build a positive relationship and be respected when it’s your turn to speak.

 

15. Take responsibility: Take responsibility for your own actions and feelings.

 

16. Ask questions: Ask questions to clarify any confusion or misunderstandings.

 

17. Avoid interrupting: Allow the other person to finish speaking without interruption.

 

18. Practice active listening: Repeat what the other person said to ensure you have understood correctly.

 

19. Use your body language too: Use nonverbal cues such as eye contact, facial expressions, and body language to convey your message and build rapport.

 

20. Be aware of the tone of your voice: it should be calm and assertive, not aggressive or passive.

 

By keeping these tips in mind, you can improve your communication skills and become a more powerful communicator, which can help you build better relationships, achieve your goals, and lead a more fulfilling life.

I you want to learn how to become more confident in life then you can join my weekly mentorship calls and 40+ online workshops at AweBliss.com so you can master your life with more success.

 
Continue Reading

Success Advice

Dead Men Tell No Tales: How to Navigate a Mutiny as a Leader in 10 Steps

You’re the manager. You’re the supervisor. You’re the leader. But maybe your people don’t see it that way

Published

on

Image Credit: Unsplash

You’re the manager. You’re the supervisor. You’re the leader. But maybe your people don’t see it that way and perhaps that has created a divisive and adversarial working environment that makes it difficult for you to influence and inspire your team in a way that meets your vision. (more…)

Continue Reading

Success Advice

How to Think Like a CEO for Your Future Success

A blueprint for CEOs to draw a disciplined strategy

Published

on

Image Credit: Unsplash

Strategic thinking helps CEOs build successful businesses. It helps them establish everlasting enterprises. It is one of the key elements of decision-making. It is different from strategic leadership. It differentiates between leaders from managers.  (more…)

Continue Reading

Success Advice

How to Focus Your Mind on Your Goals in 2023 Constructively

In this world of distractions due to information overload, it has become a big challenge to focus our minds

Published

on

Image Credit: Unsplash

In this world of distractions due to information overload, it has become a big challenge to focus our minds on positive aspects and constructive activities. Sometimes we waste our precious time mentally and physically due to distractions arising out of technology. We must understand our priorities and learn how to focus on them religiously. (more…)

Continue Reading

Trending