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Life Lessons Learned from Warren Buffett

Imagine being able to have a sit down conversation with the one and only Warren Buffett. You would be able to learn more lessons from that conversation than most college professors can teach in a semester. You can listen to the words of advice that Warren Buffett has to offer, and you can make the decision to either stay down your current path, or make your life better. The inspiration from his lessons can apply to anyone, and can help those who do not always know how to help themselves. Here are 11 of his poignant lessons on both life and finances.

Lesson One: Always Keep a Good Reputation

Your reputation is important, and it is something that shows others the kind of person you are. Taking shortcuts or doing tasks that ruin your reputation, even a little bit, can cause damage that can bring you from the brink of success to the bottom of the ladder, unable to start from ground zero without losing everything you once had. It’s an important part of who you are, so treasure and grow it daily.

Lesson Two: Earn Money Fairly

This goes along with lesson one, as it impacts your reputation directly. You always want to be fair when it comes to business dealings. If you aren’t honest and fair, the consequences can come back to you with the same type of experience, just with you on the receiving end. You should never cheat or swindle those around you unless you are fully prepared to be cheated and lose your good reputation all in the same transaction.

Lesson Three: Spend and Save Money Wisely

When you take the time to earn money, you should spend it on the things you need most. From there, save the rest as you will need more money in the future. The more you are able to save, the more prepared you are for any hiccups that come down the line to you in the future. If you are wasting money, and you have an emergency come up, you will be left with no way of recovering without putting yourself in a bad spot all over again. It’s not a matter of if you will need the money in the future, but instead of matter of when, so save it while you have it.

Lesson Four: Show Society Your Talents

Talented people have a way of helping the economy and society continue to move forward and thrive. Every bit of talent that goes into society has a way of fitting in somewhere, so show the world what you have to offer. Knowledge is power, and talent is a way to show the world how smart you are, so always put what you have out there for the world to see.

Lesson Five: Be Good to Your Customers

Your customers are the difference between failure and success for every aspect of your business. If you are good to your customers, they are going to be good to you in return. However, the flip side is also true. If you are dishonest or hurtful to your customers, they will take their business elsewhere, where they will be treated with the kindness and respect they deserve. Always provide them with the treatment, products, and services they need to make their life better.

Lesson Six: Approach Life through Passion

If you are trying to find a way to stand out from the crowd, do something that inspires you. People who are inspired go out of their way to show the world what it is that inspires them, and show the world how passionate they are. Be confident in what you have to bring to the table, and don’t be afraid to tell the world about what makes you different from everyone else in the crowd.

Lesson Seven: Invert Your Ideas

Instead of looking at what you need to succeed with your business or idea, take a look at all of the ways you could potentially fail. Decide what the biggest points are out of that list, be it lack of communication, not following through with what you say you’re going to do, or even being disorganized. Once you have those major ideas, don’t spend your time focused on trying to succeed, spend your time avoiding failure. This will help you find success without even trying.

Lesson Eight: Control Your Own Fate

When you are going to bring something to the world’s attention, put it all on the line. Don’t hold back or leave anything out of what you have to offer or you are likely going to live with regrets and wonder “what if” should you ever fail. If you give it your all, and still fail, then the world was not ready for your idea yet. Just look at your idea again, change it to fit with what society can handle, and do it all over again.

Lesson Nine: Surround Yourself with Successful People

The ideas of those around you can be inspiring, and you can learn a lot from people who have been where you are and made it to the next level. The more success you can have around you, the more information you will pick up and the more you will be able to spot success whenever an opportunity arises in front of you.

Lesson Ten: Accept Setbacks

Setbacks and mistakes are going to happen. If you accept that they are a part of making it big, you will be able to learn from your mistakes and continue moving forward. Those that do not prepare for mistakes often get knocked back and second-guess themselves. Setbacks can make success harder to achieve, if not impossible, for those who have a hard time moving beyond it.

Lesson Eleven: Never Stop Learning!

No matter what you do, go through each day looking at everything you could learn. You want to learn what you should be doing, learn what you should avoid doing, and learn what those who have ideas similar to yours are doing that is setting them apart from you. Your goal should be to learn something new each day, no matter what it is you’ve done that day.

Warren Buffett is a man who can offer pieces of advice like this due to his rags to riches life of success. Don’t ignore his ideas, but think on them. The more of them you can put into practice, the more chances you have at finding success in your life.