Warren Buffett is an extremely successful man, and there are plenty of people who look to him for advice on everything from finances to the stock market and even just life in general. While there are literally dozens of different things that you could learn from the Oracle of Omaha, some of it is so specific, it’s really only relevant for investors and business people.
So, for all of you Buffett fans who are not already millionaire investors with oodles of stocks, or teenagers looking for some career advice, here are five lessons that everyone can learn from the Oracle of Omaha, no matter what stage of life you’re currently in.
1. Optimism is everything
Warren Buffett is the absolute definition of optimism when it comes to the country and even the economy. In fact, Bill Gates said it was the key to Buffett’s success. But even if it isn’t, being optimistic can help give you an edge in both business and your persona life as you’ll be able to look past the momentary downs in order to better understand the possibilities that lay before you.
2. Do what you love
Buffett often tells people to find a job that they would do if they weren’t being paid for it, and while that’s fantastic advice, it’s not always advice we can afford to follow. However, the essence of it is just as true: make sure that you’re not spending unnecessary time on things that you dislike doing. Take a look at your extra activities and make sure that you really love all of it. After all, if it’s not something that you’re passionate about, then you’d be better off devoting your efforts elsewhere. Non-work activities should never feel like work.
3. Don’t follow the crowd
Following the crowd is never the way to being happy or successful. Warren Buffett often states that a good investor knows when to sidestep and take a different route, and the same is true for the rest of your life. You don’t want to be contrary just for the sake of being original, but it helps to question why things are done a certain way and make sure that it’s what works best for you. Sometimes that’s going with the crowd, but many times it won’t be.
4. Surround yourself with the right people
Most people tend to unconsciously imitate those that they spend the most time with, so it stands to reason that you’ll want to make sure that you spend time with the right kinds of people. Buffett suggests that everyone should be friends with people better than them so that they’ll “drift that direction” and whether you’re talking business or personal relationships, this is abundantly true. Don’t waste your time with people you don’t admire in some way or other.
5. Keep learning
Warren Buffett is an avid learner and reads around 500 pages a day. In fact, he estimates that he spends around 80% of his time reading. That constant learning helps him be exposed to new ideas and helps keep his mind sharp. Even if you’re not a business person, staying sharp and constantly challenging yourself to learn new things can greatly help improve your overall well being and situation.