Leadership Tips From Warren Buffett

Warren Buffett is 84 years old and has an estimated net worth of more than $40 billion, so it’s safe to say he knows how to succeed in business. He has also proven himself to be one of the world’s most effective leaders. Bearing that in mind, here are a few tips he has offered for aspiring entrepreneurial leaders.

Do Something You Enjoy Early in our careers, it may be necessary to take jobs that are only good for paying our bills. However, as we reach the middle years of our careers, Warren Buffett recommends looking for positions that allow us to do what we enjoy. As we get older, just paying the bills isn’t enough. Your career should evolve to provide you with emotional satisfaction.

Communicate Clearly Mr. Buffet also advises that your success in life will hinge on your ability to share your thoughts concisely with others. No matter how unique and promising your ideas may be, they won’t serve you well if you can’t communicate clearly. You should avoid the use of technical jargon to ensure reader comprehension. Your written communication should also provide detailed information to ensure anyone with moderate reading skills can understand your concepts.

Choose Colleagues With Something to Offer In business, it’s important to network with people from a variety of different backgrounds. You don’t have to be an expert in everything if you know enough experts across a broad range of disciplines. Additionally, you should network with other entrepreneurs who either match or exceed your ambition. This will ensure you remain consistently challenged.

Hire the Right Personnel If you hire the right people, Warren Buffett says you won’t have to micromanage your staff. Professionals who are talented in their fields and strive to be productive can be trusted to perform well without direct supervision. If you can trust your employees to manage themselves, they will consistently perform well.

Following these tips will give you a good jumping-off point for becoming a good leader. When you break into a field that provides you with rewarding work and hires a team that works well together, you’ll be free to focus on the future. This will help you prepare your business for growth and longevity, regardless of the changes that technology and society brings. A well-managed team can meet any challenges that may arise.