Warren Buffett Shares His Most Essential Advice For Generation Y

Warren Buffett Shares His Most Essential Advice For Generation Y
News
Like Us On Facebook
Like Us On Facebook

Warren Buffett assumed the role of mentor to the youth yesterday when he gave networking and career advice in an “Office Hours” session with Levo League, a site aimed to assist youngsters in making their dreams come true.

The Berkshire Hathaway CEO shared personal stories about his fear of public speaking, and notably told women to “stop holding yourself” back.

Here’s 9 points Buffett highlighted as some of the most important steps to follow on the path to success:

1. Find your passion.

“Never give up searching for the job that you’re passionate about,” he says. “Try to find the job you’d have if you were independently rich. … Forget about the pay. When you’re associating with the people that you love, doing what you love, it doesn’t get any better than that.”

2. Be careful who you admire.

“If you tell me who your heroes are, I’ll tell you how you’re gonna turn out. It’s really important in life to have the right heroes. I’ve been very lucky in that I’ve probably had a dozen or so major heroes. And none of them have ever let me down. You want to hang around with people that are better than you are. You will move in the direction of the crowd that you associate with.”

3. Learn how to communicate effectively.

While getting his MBA from Columbia University, Buffett revealed that he was “terrified of public speaking,” causing him to withdraw from a Dale Carnegie class. But after graduating he saw the ad for the course again and decided to give himself a second chance.

“I became associated with the 30 other people in the class. We couldn’t stand up in front of a group and say our own name. I mean it was — we were — it was pathetic. But that class changed my life in a big way.”

4. Develop healthy habits by studying people.

“Pick the person that has the right habits, that is cheerful, generous, gives other people credit for what they do. Look at all of the qualities that you admire in other people … and say to yourself, ‘Which of those qualities can’t I have myself?’ Because you determine whether you have them. And the truth is you can have all of them.”

5. Learn how to say “no.”

“You won’t keep control of your time, unless you can say ‘no.’ You can’t let other people set your agenda in life.”

6. Don’t work for someone who won’t pay you fairly.

“I do very little negotiation with people. And they do little with me, in terms of it … if I was a woman and I thought I was getting paid considerably less than somebody else that was equal coming in, that would bother me a lot. I probably wouldn’t even want to work there. I mean, [if] somebody’s gonna be unfair with you, in salary, they’re probably being unfair with you in a hundred other ways.”

7. Become involved with growing businesses.

“I mean, you want to get on a train that’s going to go 90 miles an hour and not one that’s gonna go 30 miles an hour and you’re gonna try to figure out how to, you know, push it along a little faster. So it really does make a huge difference. And there are some businesses that inherently [have] far more opportunities than others.”

8. Learn everything you can about your industry.

Buffett says he reads for six hours every day because he believes that growing your intellectual capacity will help you solve problems more effectively.

“I knew a lot about what I did when I was 20. I had read a lot, and I aspired to learn everything I could about the subject. “

9. Young women should seek mentors.

“These [mentoring] relationships all just evolve. I never set out to become a mentor … It’s amazing … how the person that really wants to do a terrific job just jumps out. There aren’t that many. You will be perceived as exceptional and as a worthy person for a superior to spend some extra time with if you just do something extra all the time. It seems elementary, but it’s true.”

At the end of the interview, Buffett reminded everyone to keep getting up after all falls because “you are healthy, and bright and have decades ahead of you.”

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Sean Levinson

Sean Levinson loves writing almost as much as he loves ranting about politics. Elite Daily lets him do both, and he couldn't be happier now that he's finally putting his years at SUNY New Paltz to good use. When he's not writing, Sean enjoys nature excursions, playing the guitar and the Ultimate Fighting Championship. Look for him on "Real Time with Bill Maher," where he regularly appears in his most precious fantasies.

More In News

World Adam Matula

Baby Elephant Has Some Serious Ribbon Dancing Skills (Video)

Elephants are apparently masters of ribbon dancing and rhythm gymnastics. Recent footage captured by tourists shows Faa Mai, a baby elephant who was rescued and currently lives at the Elephant Nature Park in Thailand, showing off in front of friends with a large blue ribbon. The intriguing baby elephant does tricks with the ribbon, spinning […]

World Adam Matula

Drunk Guy Somehow Manages To Get Stuck Under An ATM Door (Photos)

When an ATM swallowed his card, a drunken Cheng Kao got scared he might get locked inside the glass booth. He tried to escape by squeezing underneath the glass wall. Instead, he ended up stuck for an entire night. Concerned citizens of Zhejiang, an eastern province in China, called to report the stuck, unconscious man. […]

World Adam Matula

Once A Cheater Always A Cheater: Science Says Cheating Is Repetative

If your current partner cheated on their ex to be with you, it’s very possible you’re relationship is in serious trouble. Research suggests lovers who are “poached” away from others are more likely to cheat in their new relationships. Scientists at the University of Southern Alabama researched levels of commitment and satisfaction among 443 men […]

Also On Elite

World

Chinese Woman Cuts Off Ex-Husband’s Alleged Mistress’s Boobs As Revenge

A Chinese woman lost both her breasts in a brutal, gruesome attack from a former coworker who thought she was sleeping with her ex-husband. Xiao Lin, 27, was watching TV at her home in southeastern China’s Guangdong province when she heard a knock at the door. The door was kicked open when she answered, knocking […]

Women

5 Reasons Why Boy Friends Are Way Better Than Actual Boyfriends

Despite the ever-worrisome presence of “the friend zone” and the potential for our other halves to become jealous, friendships — with people of any gender — are very important to Generation-Y. As a 20-something who has experienced her fair share of life upheavals, relocations and heated rows, I am very proud of the fact that […]