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What Warren Buffet Has That You Don’t?

by Syed Zain Ali Gardezi 5 months ago in how to
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Exploring How the Rich, Investment Strategists Think

Source: Walldesk.com

A boy in his teens wanted to make some extra money, perhaps to prove himself and delve on the path of personal independence. And guess what? He doesn’t go out investing in stocks! Or builds a startup. He simply realizes that people, in his neighbourhood, really like carbonated beverages. That seemed like a prospect, but how to know which brand or flavour of the drink would sell conveniently and will be a cash crop?

You need a market analysis for that, to know what people are buying. That little kid devises an ingenious solution, he went to the stores and collected all the caps of the reusable soda bottles, and brought them home and counted them. Coke, of all the competing brands, was the overwhelming winner. Telling that young fella just the statistical evidence he needed to be sure that his investment wouldn’t incur losses. Your first investment is much more than a fluke, it determines your confidence and shapes your approach towards business investment.

Followed by the findings, the boy went with his father to broker a deal with a local vendor who agreed to sell crates of coke in bulk. And every day, he’d be sold out. That boy, in his teens, was Warren Buffet. While success in earning a few extra dollars by selling soda may seem humble, but the thing is that he got the strategy right! The investment strategy capitalizes on people’s interests and product potential, instead of floating rumours or words of a confident supporter of a brand.

So, here are some of the major takeaways from the life and success of Warren Buffet.

Pick Your Competition:

For all of those in their early 20s and 30s, and particularly the younger lot, it is important that you realize what and who you want to be. In this context, you don’t need to compete with the fellow next to you or your neighbour. Expand your horizon and look at the people like whom you wish to become. And recognize the qualities they possess, it is better to make a list of these qualities and try to embrace them in your life. Success isn’t an outcome of sheer luck, it’s an attitude, and when you set your attitude right and with the help of the road map to follow, provided by your competition, you will have a clear road map to proceed.

AVOID DEBT:

Whether it is in the form of the easy instalments on buying the new iPhone or buying the house! Understandably it’s a difficult decision to take that’ll unable you from realizing your dreams early on in life. But at the same time, you’ll be saving yourself from being financially restrained in a paycheck to paycheck circle of work!

You see! Before you can think clearly, take the necessary risk to succeed in any field of business, it’s imperative that you have the financial muscle that enables you to do so. Getting everything from the refrigerator to that 4K tv in your house on credit will strangle you. On the contrary, make exceptions for only the tools that you know will serve you and help you earn by having them sooner than later, other than that, luxuries shouldn’t be loaned in life.

Capitalize on Your Talents, and Do What You Love the Most:

Become a Cobbler if that’s what your heart inclines towards but be a Goddamn good one. Look at LV, and Cat Shoes, or other exquisite brands what’s unique and inspiring about them all is that they are really good at what they do. They truly love what they do, and that’s the biggest lesson out there. You can only be creative and do exceptional in fields that you truly love, you dream about and are every minute invested in pursuit doesn’t seem to be wasted in any manner.

Your skills and expertise can only be realized when you are in a field that truly inspires you.

Be Willing to Fail:

Things, investments and businesses can always take a downturn! Who’d have imagined that the global economy would be crippled by the Pandemic? There’s only so many externalities that you can actively take an account of before making the investment decision. While you should certainly not go out on a whim making investments and attempts to realize a side hustle. At the same time, you ought to realize the 50/50 risk of losing as well. Invest what you can afford to lose.

It’s business, not gamble…it’s your life, not a game where you can respawn.

Always think by putting yourself in the shoes of prospective buyers:

“I’ve never seen a business fail that delights its customers,” says Warren Buffet, and there’s a whole lot of weight in this idea. You or the business you intend to invest in must deliver value. If you run a business that truly solves problems for its customers, adopts their requirements and is driven by one objective only, VALUE DELIVERY.

I hope reading this piece left you a bit more oriented, determined, and motivated to realize your dreams.

Orignally Published By Author At Medium

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About the author

Syed Zain Ali Gardezi

A ridiculously motivated writer ambitioned by art, crypto and gardening. Busy enlghtening the world :)

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