Lessons You Can Learn From Warren Buffet

When I reflect on my biggest lessons in life and money, I often come back to a simple statement that articulates exactly how you can do it too.

If you want to be successful, the quickest way is to model and study what other successful people do.

Seems simple, right? Why reinvent the wheel?

So many people who have come before us are already living the kind of life you want to be living. Why not take the lessons they have learned and apply them to your life?

That’s why I love this lesson from Warren Buffett. I mention him often, and with a net worth exceeding $75 billion, why wouldn’t you try to learn a few lessons from him.

Lessons from the Oracle of Omaha

There’s a great story from Warren that’s made its rounds online that I think everyone should read. It goes something like this:

When I was sixteen, I had just two things on my mind — girls and cars. I wasn’t very good with girls. So I thought about cars. I thought about girls, too, but I had more luck with cars.

lessonsLet’s say that when I turned sixteen, a genie had appeared to me. And that genie said, ‘Warren, I’m going to give you the car of your choice. It’ll be here tomorrow morning with a big bow tied on it. Brand-new. And it’s all yours.’

Having heard all the genie stories, I would say, ‘What’s the catch?’ And the genie would answer, ‘There’s only one catch. This is the last car you’re ever going to get in your life. So it’s got to last a lifetime.’

If that had happened, I would have picked out that car. But, can you imagine, knowing it had to last a lifetime, what I would do with it?

I would read the manual about five times. I would always keep it garaged. If there was the least little dent or scratch, I’d have it fixed right away because I wouldn’t want it rusting. I would baby that car, because it would have to last a lifetime.

That’s exactly the position you are in concerning your mind and body. You only get one mind and one body. And it’s got to last a lifetime. Now, it’s very easy to let them ride for many years. But if you don’t take care of that mind and that body, they’ll be a wreck forty years later, just like the car would be.

It’s what you do right now, today, that determines how your mind and body will operate ten, twenty, and thirty years from now.

– Warren Buffett

What’s In This Lesson for You?

This story is really powerful when applied to me and you. Consider this…

Are You Going Through Life Knowing You Only Have One Life To Live?

money goalsAnd are you making goals and taking actions that will support your body and mind for the rest of your life?

…Are you putting systems in place so you can spend more time on the things that are truly important to you in your life?

Or are you simply letting your life pass you by, drifting and unconsciously making choices that serve no purpose?

Really look into yourself, be honest…

Is your life out of sync? Are you negating the important parts of it? Your mind? Health? Relationships? Leisure time? or your financial future?

Is being successful the only thing on your mind? Being successful doesn’t always mean making a heap of money.

Money without health is pointless. Money without positive relationships will make you lonely.

Don’t forget what’s truly important to you and don’t forget you are only on earth for a short time. So make sure you are taking care of yourself fully.

We are holistic beings. Every part of us works together in harmony. And the sooner you realize this, the better and more successful you’ll be.

How to Create Your Dream Life

To embrace the lessons from Warren Buffett’s words it is important to ask yourself some questions…

You need to understand what truly matters to you so you can start prioritizing what will make your ‘car’ last a lifetime.

your whyAsk yourself these powerful questions to get started …

  • What do I REALLY want?
  • Why don’t I already have it?
  • What would it be like or feel like if I got exactly what I want?
  • How can I get or accomplish what I want?

You can even break this process into smaller chunks by doing each question for an area of your life, such as money, relationships, career or business and health.

When you ask these questions of each area of your life, you discover what truly matters to you…

What it is that will get your juices flowing, will support your ‘car’ and deliver you a clear path to success…

And with clarity comes real power! And with power comes the incentive to act, to do what it takes to succeed.

So I challenge you to ask yourself these questions and identify what it is you really want, so you can gain the clarity and power from knowing what success looks like for you.

Napoleon Hill in the book ‘Think and Grow Rich’ made it clear that you need to know what you want, see yourself having it, believe you can do what it takes to make it happen and then go after it.

Let me know in the comments what success looks like for you.