Lessons of any kind from people as successful as Warren Buffett is sure to be beneficial, or at the very least exciting to read. So of course, when I saw an article on Upworthy titled “6 Lessons in Making Life Choices Based on The Wisdom of Warren Buffett,” I was sucked in.
Warren Buffett says he takes six different factors into consideration when he’s in the process of making big and brave business decisions. Everyone, whether it be in regards to investing or everyday life, has to make tough decisions. I picked my favorite three lessons from Buffett; take a look and see if any of his strategies could work for you:
1.) It has to be a big choice and a big win
Buffett prefers the go big, go bold method. He typically acquires “large purchases (at least $75 million of pre-tax earnings unless the business will fit into one of our existing units).”
2.) The decisions has to create value for you consistently and currently
The phrase of “it’ll pay off in the long run” does not apply when it comes to Warren Buffett’s decision making. Your choices should be valuable and make a real-life (current) impact. Consistent earning power is key.
3. The decision will benefit everyone who’s invested in it, and it won’t leave anyone hanging
Buffett wants “businesses earning good returns on equity while employing little or no debt.” Meaning no one investing money, sweat, or tears will come out at the end with less than they started.
The themes here are fearlessness, fairness, and preparation – which are all great takeaway lessons to apply towards all aspects in our lives.
Click here to read the original article.