June 23, 2010
What Would Warren Do? The Billionaire’s Guide to Your Work Day
Let’s be honest, almost everyone dreams about having enough money to build a fort out of stacks of $100 bills. It’s why we play the game and enter the rat race, right? Many people strive to be at the top of the food chain and have enough money to support their family and live comfortably for the rest of their lives.
The Oracle of Omaha
Maybe that’s why it shocks so many people when they learn about Warren Buffett. We have all heard about this titan of business that has earned the moniker “The Oracle of Omaha” by turning a failing textile business called Berkshire Hathaway into a multinational conglomerate that employs almost 50,000 people and make billions every year. Depending on the day you check on Mr. Buffet he just might be the richest man in the world, if not he’s only off by a few billion here or there.
Yet Warren doesn’t live on a tropical island somewhere. He makes his home in Omaha, Nebraska, away from the sun and sand of America’s coasts. Warren doesn’t live in the city’s best or biggest house; instead he lives in a relatively modest home he has owned for decades. The man who presidential hopefuls always make it a point to come and talk to during their campaigns doesn’t even have a chauffeur. He enjoys cheeseburgers, cherry coke, French fries and watching college football in his sweatpants.
Simple, Simple, Simple
While this blows the minds of most people it is a reflection of how this man sees the world and why he is so successful. He loves doing what he does and doesn’t need the trappings of wealth or the toys to make him happy. He is a simple man with simple tastes and understands that with patience and planning you can make a really good living in this world.
We could all take a lesson out of Warren’s daily playbook. And I don’t mean analyzing what stocks he owns. He bought those stocks when the market was heavily discounting them so to buying now would be pointless and most likely, unprofitable. Instead, let’s imagine that Warren had cared about Mercedes, mansions and material accumulation…it’s unlikely that he would have gotten where he is today. If he was more obsessed with having the most toys and adventures outside of his professional life, he probably wouldn’t be a household name around the world.
Luxury Redefined: Buffet’s Priorities
Warren once said,
So instead of trying to break our necks to upgrade to the next level of toys, why don’t we put that effort into finding something that truly inspires us and motivates us? If you love doing what you do it will never seem like work. “Really getting to do what you love to do everyday — that’s really the ultimate luxury…” says the man who is richer in more ways than just what his bank statement says.
“Your standard of living isn’t equal to the cost of your living.”
WWWD: What Would Warren Do?
Remember to keep Buffet in mind when you start your work day. Strive to work hard, look for opportunities others have overlooked and above all, enjoy what you do. If you don’t like it, maybe it’s time to find something that you want to do every day because you’ll never truly be successful until that happens.