Warren Buffett is an American businessman. May be you are very familiar with the art of investing. From the age of seven, he became interested in the business. As a child, he sold chewing gum, Coke bottles, and even magazines from house to house. And today? According to the 2016 list of the world’s wealthiest people, Warren Buffett is the second richest person globally. This graduate of Columbia Business School in the US has always given various tips to students and young entrepreneurs. So today we are presenting Top 10 Warren Buffett Tips For students and young entrepreneurs. You will love these tips.
Be patient in difficult times
Warren Buffett has always advised being patient when times are tough. You must have learned this lesson in your own life. You have faced an economic recession several times in your life. In 1993 he bought Dexter Schweizer for around £ 430 million. Despite a $ 3.5 billion loss to this company in 2008, Warren Buffett has remained patient. “There are two sources of success,” said Warren. First formula: never give up. Second formula: The first formula can never fail to remember.”
Hold the target correctly
Warren Buffett believes that everything you do should be done with full focus. You don’t want to be frustrated if you don’t get the right shade. So, invest in a good capo. You must be vigilant at all times. “Don’t invest in a company you don’t understand,” he says. Your goal is to focus on where you want to be.
Invest in yourself
Your success depends on your skills. So, Warren Buffett said, “Invest in your skills first. The more skills you have, the more creative your business becomes.” He always said that it was essential to take your time. “Sometimes, I just sit there and think,” he says. Many will say that it is unnecessary. But I like to think about business and investment issues.”
Choose the right company
“Spend time with people who are better than you. Make sure your employees use it better than you and that it affects you.” He believes that human honesty is of excellent quality. It would not be right to expect this quality from everyone. Therefore, keep the people around you who are honest in business. Who can you trust? Warren Buffett has long been in business with people he has a good understanding of.
Must read a lot
It is very harmful to have a good repertoire as a student. There are 80 times when you feel free to read books. Discover young entrepreneurs by reading Business Adventures, The Aces of Warren Buffett, and The Intelligent Investor. He said he still spends five to six hours a day reading books in an interview with HBO. “Read at least 500 pages a day,” he says. Knowledge is like “compound interest.” The more you read, the more you grow.
Work for society
As you receive from society, it is also your responsibility to work for the society. Warren Buffett said, “You planted a tree many years ago, and today you are getting that tree’s shade.” So, don’t forget the contribution of your predecessor. If you fall into the 1% chance category, it is your responsibility to do something about the remaining 99%.
Think about the past and the future
Warren Buffett believes that the past and the future matter in business. He believes that while we don’t see a bright future, we can see a bright future in place. It will help us decide on our end. “If the past were the most important thing in this game, librarians would be the richest people in the world,” he said.
Who is your hero
Who you follow is very important? How do you want to be Think carefully and answer this question? Warren Buffett said, “Tell me who the ‘hero’ is in your eyes. I’ll tell you what the future holds.
Must have faith
My father trusted me. I believe in myself, too,” wrote Warren Buffett in his introduction to The Great Minds of Investing. He always trusted himself at his request. He never thought of failing. He did what he loved with the conviction of success. His comment: “How much money is made or how much profit is made is more important than this calculation of whether or not self-confidence is intact.”
Learn from mistakes
Not that Warren Buffett is 100% successful in life. He made a mistake. He’s even made big mistakes in his professional life. But he learned from the mistakes. Warren Buffett advised college students to learn from the mistakes of their lives. He believes that his children should also be made aware of the errors. So you don’t make the same mistake.