10 Secrets Of Financial Success

Warren Buffet is one of the movers and shakers in the financial field. You may not recognise the name at first but you will definitely recognise two brands which are Heinz and Budwieser beer which he bought in partnership with his professor, Lemann. 

To date the sale of these to brands were biggest in the food industry ever. 

So how did the professor of Warren Buffet make it?

1. Dream big
Warren Buffets’ Professor says that dreaming big requires the same effort as dreaming small. Even though you find yourself in a place that you did not think you would be in, you can still choose to
shoot for the stars.

2. Choose partners well
This is critical because you will learn how to choose the right people to work with, people with unethical business practises or who run their business according to their whims can leave you burned and in a bad situation financially.

3. Develop your own long term vision
Lemann shared that some of the business that they do at the moment are as a result of strategies they laid down over 20 years ago. Do not plan only for the short term but also plan for the future.

4. Always try to get better. You can always improve
This may sound a bit overwhelming. Maybe by it will help if you start focusing on the first three principles. When you start it will be difficult but get into the habit and you will see how much it helps.

5. Develop your own method to achieve the results you want
Look at the four or five essential points of any issue. I’ve always tried to nail questions down to what is essential. Most of our companies have a maximum of five goals and employees working for us also have personal objectives.

6. Simple is always better than complicated. Be careful with too much theory.
Einstein once said: “If you can’t explain it to a six year old, you don’t understand it yourself.”
Learn how to explain anything in a simple manner

7.  Ethical behavior is the best long-term strategy
I have learned that the ethics of the so-called markets can be different from what we learn at school. In day-to-day life you have stimulus to behave unethically, but in the long term it always pays off to be ethical.

8. Meritocracy 
Those who perform the best must be those who are best rewarded.

9. Ownership: 
It is fundamental to have partners. Always work with people who are also owners. Talent retention is one of the hottest topics among corporations of all sizes, from startup to multinationals. He gives his best employees shares in his organisation

10.  Take risks. 
A lot of people study too much, but to do the exceptional you need to take risks.

There you have it, from the man who was a financial juggernaut with a young family, then made a USD 50 million dollar deal. Know what your strengths and weaknesses are then go ahead and get your hand dirty.