Warren Buffett – the name alone is well-known throughout the planet. This was the man, the banks go to, to help bail them out during the 2008 financial crisis. That alone says enough about the wealth of the man.
Mr Buffett succeeded with his company Berkshire Hathaway which launched him as one of the riches men in the world. His networth is estimated to be at $86 billion. As an investor myself, I’m an admirer of not only for his work as an investor – but also as a human being.
In today’s article, I will share with you the things I’ve picked up from studying and adopting his ways of success.
The Warren Buffett’s Blueprint
“Compound interest is the eighth wonder of the world. He who understands it, earns it…he who doesn’t…pays it.” – Albert Einstein.
This is the rule which Warren Buffett considers to be the key to his success as an investor.
Compound interest is when capital you put in generates interest and this is incorporated into the capital to gradually increase it and in turn bear interest.
To continue what Einstein said, those who do not benefit from the magic of compound interest has clearly not understood the world of finance – which I believe the main reason people struggle financially.
Another key believe to Warren Buffett is he often tries to become a little smarter each day. His goal, is to become 1% smarter everyday before he goes to bed.
“Over a lifetime, this will give you a huge advantage over the rest of the world that does not seek to become a little more intelligent every day.” – Warren Buffett
Practice The Warren’s Buffett Blueprint
To start, adopt Warren Buffett’s idea of trying to be 1% smarter each day before you go to bed. To do that, he advises you to read – a lot. Majority of people know that reading is an essential tool to improve knowledge – but not many take it to the heart.
Warren Buffett admits that he spends 80% of his days reading.
Mr Buffett likes to read articles and books. His goal is to continuously learn new things everyday. He even suggests that if you want to succeed, you need to read at least 500 pages every day.
This 500-page objective to be read each day is there first and foremost to make a lasting impression.
500 page every day can be daunting – especially those who run intense lifestyle. The idea Warren Buffett tries to point out is to make a lasting impression of its importance.
On the other hand, you have the possibility to read at least 30 pages every day.
Instead of 500 pages, try to build at a comfortable pace. Start around 30 pages every day – and build momentum from there.
If you miss reading today, your rivals will become a step ahead of you tomorrow.
We all know that knowledge is another form of power. By setting a modest goal, you will start to improve your knowledge. If you have extra time, read more.
In this way, you will be able to make better choices and achieve greater success by being smarter.
Try these out and you’ll start seeing positive outcome from it. If you feel 30 pages a day is a difficult task, start somewhere you’re comfortable with. Then, build yourself up from there.
