Majestic Mantras by one of the top 10 richest billionaires in the world, Warren Buffett
1. “Honesty is a very expensive gift. Do not expect it from cheap people.”
A business relies on the relationship between a customer and the company. If the company wants to be successful, it should bring honesty and integrity to its operations.
2. “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
A company or a businessperson spends years gaining customer’s trust and loyalty. However, it takes less than five minutes to destroy their reputation.
3. “The most important quality for an investor is temperament, not intellect.”
While intelligence is a valuable trait in an entrepreneur, you should have emotional control and discipline to make sound decisions during volatile times.
4. “Risk comes from not knowing what you are doing.”
As the market keeps changing rapidly, as an entrepreneur, you should keep researching the market trends and make decisions according to customer needs.
5. “It’s better to hang out with people better than you. Pick out associates whose behaviour is better than yours, and you’ll drift in that direction.”
Role models are essential in everyone’s life. Associating yourself with people who exhibit integrity, discipline, and wisdom can inspire personal growth and development.
6. “Our favourite holding period is forever.”
Investment is something that most people feel wary of. However, Warren Buffett backs the idea of long-term investing. Asset classes such as equities, gold, and real estate give good returns to investors when they invest in them for the long term.
7. “Never depend on a single income. Make an investment to create a second source.”
The volatile job market makes it more important to have a second source of income. You can start your business, do freelance jobs, and turn your passion into something that brings you money.
8. “Chains of habits are too light to be felt until they are too heavy to be broken.”
Warren Buffett believes habits are like weightless chains and slowly accumulate their influence. It is essential to cultivate positive habits and break away from negative habits before they become heavy chains that limit your potential.
9. “In the world of business, the people who are most successful are those who are doing what they love.”
People are bound to become successful when they do things that they love. When you are doing something that you are passionate about, it fosters excellence and fuels high performance.
10. “The most important investment you can make is in yourself.”
To become successful in life, you must invest in yourself, keep learning new skills, focus on your health, cultivate good habits, read inspiring books and learn to take risks.
