Warren Buffet’s 5 Steps to Success

Most people don’t know whom Warren Buffet his, due to the fact that he’s not very popular around here. But financial freedom seekers like me have heard the name several times, we’ve even read few of his articles and biographies.

If you don’t know who Warren Buffet is, he’s the third richest person in the world, with an estimated net worth of about 88.5 billion dollars. He made his first investment when he was only 11 years old and he has since been breaking grounds in the financial sector.

Although, this post is not exactly about Buffet, it’s about his teaching on financial freedom. If a frugal self made billionaire want to talk to you about how to be successful, you would want to listen quietly.

I, personally, do not believe that there are only a certain amount of steps to success. You can start anything and become successful, if you do it well and follow some principles, because life itself work by principles.

Buffet has 5 steps today, he had 3 few months back, he may have 7 steps next month. The point is to grab a seat and listen when successful people talk, practice what they say and when you eventually succeed, you give back.

1. Know What You Want: Clarity goes a long way in determining your success. If you’re clear about what you want to achieve, you are already halfway through. You don’t need a billionaire to tell you this. Buffett challenges everyone to list their “top 25.” These are the top 25 things you want to accomplish in the next few years or in your entire life. It helps set up some kind of direction and lets you formulate your plan for success.

2. Pick Your Top 5: Narrow it down to the top 5 extremely important things. This is simply prioritizing the top things. It helps you focus on a handful of achievable things. It can be difficult to achieve 25 things all in a short time. Narrowing your focus makes things better.

3. Set Up A Plan: This plan will help to speed up the rate at which you will get things. “Once you decide what matters most in life, it’s time to figure out how you’ll accomplish these things. Nothing good will get done without a plan — there is too much room for error if you don’t create one”. If you intend to start your own business, you’ll have to begin formulating plans and putting things in order to see that desire happen.

4. Commit To Your Plans: In this journey, you must give full attention to your top 5 things and run with them. The remaining 20 things must be avoided at all costs.

5. Know Your 20-to-be-avoided lists and stick with it : Stick with avoiding these things, sounds like paradox but yeah. “Put those other 20 on the back burner for now. Trying to find success through dozens of different things will only lead to distraction and likely failure. So once you accomplish those five, then you can focus on the other 20. But Buffett stresses that trying to do too much at once will only suppress any future success“.

See why I said you should grab a seat and listen quietly when a billionaire speaks? Because you have a lot to learn from them. Someone would have thought the 25 things were to be achieved simultaneously. But he let the secret out.

I’ve learnt a whole lot from this piece, I hope you have to? If you have any more tips to add, please, I would be glad to learn in the comment box.

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Categories personal developmentTags , , ,

4 thoughts on “Warren Buffet’s 5 Steps to Success

  1. Yeah nice one and so really inspires

    Liked by 1 person

  2. Great summary. Buffet is a truly inspiring person from whom we can learn a lot.

    Liked by 1 person

    1. You’re right sir, he inspires me in so many ways and I’m glad I can always learn from him.

      Liked by 1 person

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