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Warren Buffett’s 10 tips for young entrepreneurs

Warren Buffett

Warren Edward Buffet is an American businessman, investor, speaker, mentor, motivator, and a philanthropist. He is regarded as one of the most successful businessmen in America; he is also one of the richest men in the world standing at number three after Microsoft’s Bill Gates and Amazon’s Jeff Bezos. He has the majority of shares in Berkshire Hathaway a multinational conglomerate holding company which owns several other companies and have a considerable percentage of shares in other multinational giants such as Coca-Cola, Apple, United Airlines and Bank of America.

Warren Buffett has been an inspiration for young entrepreneurs and businessmen around the world, he has been providing strategic direction to small businesses and has been motivating young businessmen from time to time.

A couple of days ago he has given 10 tips for young entrepreneurs, workers, and businessman, you should take that advice and make it your habit, it will eventually help you to grow fast and keep yourself on track.

1 Read and Write More

The first and the last advice is to read, learn and write as much as possible, learning through reading and expressing yourself through writing would make you learn anything, anywhere, anytime. The things that you can learn from reading and writing, you may not be able to learn them while speaking and listening. So make it your habit to read and write and keep doing it.

2 Stay Healthy and Fit

Staying healthy and fit is very important for you, good diet, regular exercise and perfect timing for all day activities will keep you stay healthy, and it would generate more energy for your body and brain so you can complete your daily tasks effectively. Do not tire yourself, take a break and think first about your health than other tasks.

3 Networking is about giving

Networking is very important but it has different meanings to different people, but Warren Buffet says “networking is about giving” first and the most precious thing you have to give to a network is time, after that your abilities, skills, knowledge and so on. Develop networking in a way you can give something to someone, do not always think of your own benefits.

4 Practice Public Speaking

You might be very knowledgeable, wise and skillful in your profession but you are only known by your words, you can also be a good writer but speaking is something really different, if you speak well in Public you can turn people towards you. The choice of right words to deliver the right message in a short span of time is what makes you good at public speaking, so practice it

5 Stay Teachable

In every aspect of life, “There is always a room for improvement” if you have done a Ph.D. In your subject wrote several books and articles and you think you are a teacher now and no one is out there to teach you, you have put yourself in a dark room. Make up an attitude of always learning doesn’t matter how, from whom, and where you are learning. Being teachable makes you keep learning and keep growing.

6 Find a Mentor

You need a mentor to guide you, find one that suits your needs, that opens your brain cells to let the light come through and see things you overlooked before.

7 Keep in Touch with Friends

Friends will make you happy, spend time with them, keep in touch, take the time out of your busy schedule to see the difference, you will enjoy their company, it will open new doors for you.

8 You are Not your Job

Don’t handle yourself like a job; you should be your passion

9 Know When to Leave

It’s important to know when you have to move on to the next step, the timing is crucial, if you are doing a job and planning to start your own business it’s very important to see when is the right time to leave, haste, as well as delay, would create problems for you.

10 Don’t spend what you don’t have   

It simply means control yourself, if you are spending extra energy on your work that you don’t have you will end up sick. Similarly, if you are spending more money than you actually need to you will end up in debts, so keep the normal pace and control your spending.