Warren Buffett’s company, Berkshire Hathaway, runs around 50 different businesses and has invested in dozens more. In addition to evaluating businesses, one of his jobs is to evaluate managers and make sure that the best person for the job is currently in place. So, it’s no surprise that he has a list of some of the things that, in his experience, make the best managers.
Buffett lists this as the first thing that he looks for in his managers. With passion, you’ll not only excel, but love what you do and out of that love comes ingenious solutions and the drive to succeed. Passionate people are better workers, generally.
Buffett clarifies that you don’t have to be a genius or have the highest IQ… what matters is that you’re intelligent enough to understand the business and make good decisions about that company and each situation.
By this, Buffett means that he wants someone who is going to work hard. Lazy people never get anywhere, but people with high enough energy will push through and be willing to step in and make things work, which is paramount when running a company.
To Buffett, this is the second most important part of a good manager. But, unfortunately, it’s not something that anyone can be taught. Integrity is a personal choice, and it is something that is often not consciously chosen. If you have integrity, then you’ll go far, but if you don’t have integrity, you never will.
5. Communication skills
All business, no matter what it is, involves working with people in some way and the ability to communicate is extremely important to being a manager or a business owner. If you can’t communicate effectively with your coworkers and employees, then the company will fail because no one will know what to expect or what to do.