Posted on December 4, 2006
Thanks to Miguel Palma: Warren Buffet: A College Student’s Perspective
Taken from Miguel Palma’s blog, Work Hard, Live Harder…an interesting read
In this post from Small Business 2.0 writer Brian Halligan, Warren Buffett covers many topics including: investments, business ethics, friendship, decision making and the â€œovarian lottery.â€
Out of the many topics Brian Halligan highlights, I found three that related most closely to me, a college student in the baby stage of his career.
1. Forget About Super Man and Spider Man.
Warren Buffett and Bill Gates both agreed that if they could have any super-hero power, it would be the ability to be the fastest reader in the world. Personally, I read books like a maniac, subscribe to a dozen business-related blogs and websites, and have a subscription to The Wall Street Journal.
2. Success via lemonade stand.
Buffett read a study that researched the most closely-correlated value to success. What was that value? Itâ€™s the inverse value of the age that you started your first business (lemonade stand, newspaper route, lawn mowing, etc.) I started my first “business” when I was 16 years old, when I bought and resold used surfboards.
3. Donâ€™t be superficial.
Make decisions based on how you feel about the decision and not what others say is the â€œbest decision.â€ In short, listen to your heart.
My questions to you, College Student:
1. When was the last time you picked up a book and absorbed its material?
2. Do you have a business idea in mind? Go make it happen!
3. Buffett advises that you reverse-engineer your life to what you want to be when you’re 70 years old. Then map our your steps and strategy of getting there!
And what’s this? A bonus!
Bonus: Donâ€™t multi-task.
Warren Buffett admitted in the interview that his most important skill was the ability to focus. Sorry Generation-Y, but Warren Buffett says that you close your AIM windows, turn off your television, and lower the volume on your iTunes player. Focus takes precedence over multi-tasking.