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 Emily Arata

Besides Being Delicious, Bacon Could Be Essential To Stopping Nosebleeds

The next time you have a nosebleed, forget the tampon. Stick a piece of cured ham up your nostril. Dr. Sonal Saraiya and her team at the Detroit Medical Center received an Ig Nobel Prize for ending a child’s unstoppable nosebleed by pushing strips of cured meat up his nose. The boy suffered from Glanzmann’s thrombasthenia, a condition […]

World Sean Levinson

Earth’s Population Could Possibly Reach 12 Billion People By 2100

A research team from the University of Washington has predicted Earth’s population to exceed 12 billion by the year 2100. Statistician and sociologist Adrian Raftery and his 13-member crew arrived to their conclusion after analyzing UN data regarding rates of fertility, death, migration and aging. The results yielded significant uncertainty on many levels, saying we […]

World Emily Arata

Pabst Blue Ribbon Will Be Sold In Russia, And Now There Will Be Even More Hipsters

In dimly-lit dive bars across the country, the American hipster is weeping. Pabst Blue Ribbon beer was once the refreshment of blue-collar workers before becoming the unofficial drink of the young hipster movement. Today, Eugene Kashper of Russia-based Oasis Beverages announced the sale of Milwaukee-based Pabst Brewing Company. PBR is a 170-year-old brand that stretches […]

Also On Elite

Envision

Businessweek And Time Come Out With Iconic And Powerful Ferguson Covers (Photos)

Over the past few weeks, print publications around the world have been covering the crisis in Ferguson through text-heavy articles and photojournalism. However, Bloomberg Businessweek and Time hit the nail on the head with the magazines’ most recent front page covers reporting on the controversial topic. Scott Olson, a photographer and journalist who was arrested in […]

World

Yoga Looks Insanely Cooler When You Watch It Through An X-Ray (Video)

Have you ever done yoga and wondered what you look like holding a certain pose? Well, Hybrid Medical Animation wondered the same thing — kind of. The scientific animation studio wanted to see what a skeleton looks like doing yoga. Hybrid Medical Animation created an x-ray animation of a body holding asanas, or poses, that […]

World

Terrifying Videos Show What It’s Like To Be On A Plane When The Engine Fails

A JetBlue flight from California to Texas was forced to make a terrifying emergency landing on Thursday after an engine failed as it flew over the ocean. Flight 1416 left Long Beach Airport a little after 9 am yesterday, carrying 142 people and five crew members to Austin, TX. The aircraft’s right engine overheated about […]

Entertainment

Artist Perfectly Captures Robin Williams’ Essence In Illustrations Of His Characters

An artist by the name of Carrie Winiker created some pretty amazing illustrations of Robin Williams’ most famous roles. Winiker made the stylized drawings following the late actor’s death. For some reason, each character doesn’t have a nose. Maybe that’s just the style of this particular artist? Regardless, it’s a cool way to remember some of Williams’ greatest […]