How Easy Is It To Be More Like Warren Buffett?

One of my passions is studying successful entrepreneurs. I love to learn how they think and what actions they have taken to get to the top of their game. Warren Buffett is definitely in the camp of “successful business owners,” wouldn’t you agree?

I got to wondering, what does it take to be more like Warren Buffett? What does he do that makes him so great? So I started researching him. And, guess what? He does an awful lot of things that you can do too. Easily.

Here are four keys to Warren Buffett’s success that you can implement starting today:

1. Investment

Buffett is known as one of the world’s greatest value investors. To put it simply, he invests in companies based on their future earning power.

2. Tenets

Buffett is known widely for his 12 tenets of investing. These are his guiding principles for decision-making. He never deviates from his ideals and that focus has paid off for him handsomely.

3. Adaptability

While Buffett’s philosophies are written down and well thought-out, his processes are adaptable to changing markets and business climates. Regardless of whether the economy is going up or down, his investments steadily grow because of his careful planning.

4. Circle of Competence

One of the most striking features of Buffett’s investments is his reluctance to invest in technology stocks. He has a strict policy of only investing in industries that he understands deeply. While he is arguably giving up potential profits in the tech industry, he is doing so well in industries in his circle of competence, it doesn’t matter.

Take moment to answer the questions above. If you are unsure of the answers or you need more help with them, join this free webinar March 3 that will show you how to plan your future like Buffett.

Laura Posey is chief instigator at Dancing Elephants Achievement Group. Guest blogs such as this one are published regularly, and are part of The VAR Guy’s Business Acceleration InfoCenter.