Billionaire Warren Buffett Says This Crucial Habit is What Separates Successful People from the Rest

Becoming a billionaire sounds like a lot of work, but Warren Buffett, Berkshire Hathaway CEO, makes it look so simple –  with his raw yet profound pieces of advice, he makes the road to becoming successful seem not so treacherous, after all.

With an estimated net worth of $82.5 billion, you would imagine that he is spending tons of money on unnecessary things, but you’ll be surprised to learn how frugally he lives despite his jaw-dropping fortune. Of course, for us who live paycheck to paycheck, we are all looking for ways to become a billionaire or at least a millionaire.

The business magnate has, time and time again, reiterated that it is worth investing in good, honest people who will help your business grow. Choosing the right people to work with will become one of the most crucial decisions we will ever make, he continued.

Warren suggests surrounding yourself with people who will help you become successful. The traits he looks for in his employees and business partners is generosity, honesty, and the ability to give credit to people for their ideas.

Leaders who give credit not just on the high-ranking officials of the company but to lower-ranking ones as well stand out than the rest

Acknowledging Other People’s Ideas

Leaders who stand out are those who give credit where it is due. Remember, people who make the company profitable even from the rank-and-file employees should be acknowledged because it shows how a person appreciates a worker’s contributions to the business.

Invest in people who recognize the work not just of the board members but also of the staff in lower ranks, which is what sets a leader apart from other ‘bossy’ bosses.

That said, the type of people you should definitely stick with are those who are selfless and will put their self-interest aside for the welfare of others.

Those who are selfish will only see people as means to an end but not necessarily treating them right. Their steps toward reaching their goals are dictated by their ego, whereas altruistic ones make use of their ego in a healthy manner to benefit other people.

Microsoft’s Bill Gates praised Warren Buffett for wise time management skills

Valuing Other People’s Time

Bill Gates, the second wealthiest in the world, credits his good friend and fellow billionaire Warren for this tip that rendered useful for his success.

The Microsoft founder once wrote that time is something you can’t buy. Everyone has the same number of hours per day and the 63-year-old revealed that his pal has no time for nonsensical people. Instead, the “Oracle of Omaha” reserves his valuable time for people he trusts and cherishes the most.

Although some people see vulnerability as a sign of weakness, as a leader, it helps employees open up more about ideas, problems, and other things about the company

Vulnerable

Leaders who are kind and unguarded are usually seen as weak and soft, sometimes even dismissed as inappropriate for a boss.

However, being vulnerable is much more useful if you think about it – open leaders will cultivate an environment where workers are comfortable in opening up about the problems that they encounter in the workplace and when you address that concern, they might become more productive.

Plus, employees will feel safe and confident about pitching ideas and airing their opinions, which means there will be a better chance of diverse thoughts and more room for innovation.