Warren Buffett: The Buffett Formula
Startup/Entrepreneurship,  Startups

The Buffett Formula: A Success Mantra for Startups and Entrepreneurs

Today, Entrepreneurs and business people easily get distracted from surroundings and pay the least attention to self-development.

Most of them stopped getting any smarter. Why? And what does it exactly mean? Are they not doing any work that required?

No, it’s not what you are thinking right now. It means that people are stopped investing in themselves. It’s easy to come home, spent quality hours watching episodes of your favorite show, and scrolling social media feed until your bedtime roll around. But the fact is, it would not help you get any smarter.

Sure, you want some time to entertain yourself and need something to discuss the details in the office the next day. But that’s not the right knowledge to accumulate; that’s a mind-numbing sedative to switch off your mind from growing. 

Because of the lack of self-development, Warren Buffett shared his advice and said any business person can become a successful leader If he learned a simple mantra to win big. That success mantra is The Buffett Formula.  

Warren Buffett and His Advice

Buffett is one of the most successful investors, businessman, and philanthropist in the world who serves as chairman and CEO of Berkshire Hathway. He is also a voracious reader who always focuses on continuous learning and self-education. Buffett spends most of his time on personal development.   He emphasises doing business with integrity and excellence.    

He says,” “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 fewer impulse decisions than most people in the business.”

He started with $100 and turned into a $84 billion successful business magnate. That means success not only depends on money but also on the knowledge you have. 

Likewise, knowledge is the key to success. You can achieve whatever you want to If you gain knowledge and follow this simple The Buffett Formula

According to the Oracle of Omaha, the Key to Success is going to bed a little smarter than yesterday. However, it is simple but difficult to do. It involves a lot of hard work and patience. This formula will make you smart overtime. But right now you are wondering how to get smarter.

How to Get Smarter with The Buffett Formula

Learn and read a lot.

It’s like a good investment that works on the compound interest. Warren Buffett says, “I just sit in my office and read all day.” He also added that he spends 80% of his day reading and thinking. 

In an interview, when asked how to get smarter, Buffett once held a stack of books and said, ” Read a book from this every day. That helps you to build knowledge like compound interest. “

Anyone can gain knowledge, but very fewer people put efforts to survive it.  Adopt this Buffett formula, add in a healthy routine, and check the results into your success. It is far more complicated to sit, read, and think. Maybe you are now wondering how one can put it into practice.

Put Formula into Practice

So how can you put the Buffett Formula into action? In the era of the Internet and computers, there are innumerable resources available online to improve yourself and get smarter every day. 

Do you know the best part? That many platforms and resources are free. Some great examples are Khan Academy, Coursera, Codecademy, Udemy, and YouTube, where you can learn almost anything without spending money. 

Still, surrounded by tons of technology, there is another way to gather knowledge. Read Books and lots of printed journals – that enthusiastically endorsed by Warren Buffett. 

Find the time to read and learn. You can make that happen by selling yourself an hour of a day.  

Get Powerful with Knowledge

Here, reading is not enough to become a wise and successful person. You need to have a temperament to develop new ideas and become more sensible while reading.

You must make improvements daily, even though there would be no noticeable results to show your growth in the short-term. But it is important to know that time will always be on your side. When you’ll look back in six months or a year, the astounding results help you understand the changes in your work and personal development. Now, take this advice as an opportunity to dedicate some time to yourself. In that short term, you’re better off from the dopamine-laced rush of checking Twitter, Facebook, and emails. The good investment is to learn something new and improve yourself. 

As Warren Buffett says,

The Best Investment you can make is an investment in yourself. The more you learn, the more you’ll earn.


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