Warren Buffet knows a lot about what it takes to be successful, and over the years he’s been gracious enough to disperse much of that knowledge to the world at large. Here are ten convincing quotes about being successful from one of the world’s richest men.
1. Know Your Stuff
Risk comes from not knowing what you’re doing.
If someone’s a world champion player, are they really gambling when they sit down at the poker table? Warren Buffett doesn’t think so. He knows that, even when chance is involved, over time skill will win out over luck.
2. Think Things Through
I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. So I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.
A lot of businessmen and businessmen make impulsive decisions that sometimes pay off big and sometimes cost everything. Warren Buffett takes a different route than most, believing that to not only be successful but maintain that success you have to consider your choices very carefully.
3. Tread Carefully In All Matters
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.
You have to be wary in life as well as business. It’s a little scary to think about how easy it is to destroy your public image. Exercise extreme caution by weighing every action like a million dollar decision, because it might be.
4. If Things Are Bad, Don’t Make Them Worse
The most important thing to do if you find yourself in a hole is to stop digging.
When people are in a mess, they have unfortunate habits of making things messier when trying to clean things up. To be successful you need know when doing nothing is the best option.
5. Associate With The Right People
You can’t make a good deal with a bad person.
You can’t put faith in someone you can’t trust if you want to be successful in either business or life.
6. Don’t Be Too Trusting
I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.
Even if you associate with the right people, they may still let you down someday. Know that all good things end, and be prepared for when the curtain falls.
7. Appreciate What Came Before
Someone is sitting in the shade today because someone planted a tree a long time ago.
If you’re successful, it’s at least in part because others paved the way for you to succeed. Be thankful of those who came before and contributed to your success.
8. Know When To Jump Ship
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.
Successful people don’t call a bet with a losing hand. They recognize when something’s sinking, and know they need to get on a new boat.
9. Habits Are Hard To Break
Chains of habit are too light to be felt until they are too heavy to be broken.
Make sure you cultivate good habits, because the longer you have them the less likely they’ll break.
10. Be Certain Of Your Success, Even When No One Else Is
I always knew I was going to be rich. I don’t think I ever doubted it for a minute.
You should always be convinced that you will succeed. It’ll take a little longer to convince everyone else, but if you continue to believe in yourself you’ll eventually have a very persuading argument.
Featured photo credit: BorsheimsJewelry via flickr.com