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Warren Buffet | Business Strategies & Leadership Secrets | Dr Ujjwal Patni | No. 188 - YouTube
Channel: Dr Ujjwal Patni
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The person Iâm going to talk
about today, are considered as
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âThe icon of simplicity.â They are
also one of the richest in the world
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and people like Barrack Obama
consider this person their idol.
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He bought his first share at the age
of 11, and sold it at a very small profit.
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However, this share rose by
500% over the coming days.
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He learnt a lesson during childhood itself.
If you want to be in the stock market,
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Then being patient is more important
than the technical know-how.
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Yes friends, Iâm talking about Mr.
Warren Buffett. THE Warren Buffett
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who bought Berkshire
shares for 1000$ in 1962.
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And now, in 2018, each share
goes for approximately 327,000$.
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It was the most expensive share on the stock
exchange because it has never been split.
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Lets now look at more facts
about Warren Buffettâs life.
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At the age of 13, he filed
his first income tax and
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he already knew, he had envisioned that
he would become a very wealthy man.
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The astounding fact is that he had declared
to his friends that if he isnât a billionaire by
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the age of 30, he would jump off
a building and commit suicide.
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He used to deliver the Washington
Post during early mornings and he
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used to earn 175$ at that time, which
was more than his teachers earned.
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Moreover, by the age of 16, he
amassed around 50,000$ of wealth.
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He has only sent 1 e-mail in his
lifetime and that too to Microsoft.
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If you want a house on Warren Buffettâs
Street, you will get it under 3 million $
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Friends, when todayâs richest are
engrossed in showing off their wealth,
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This man believes in charity or spending
his wealth to change the lives of people.
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People bid Rs 22 crore for that
charity dinner in an auction
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And all proceeds went to an
Anti poverty org. called Glide.
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Warren Buffett has also said that 99%
of his wealth will go to charity, not family.
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He has already given a large chunk to
the Bill and Melinda Gates Foundation.
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Let us now look at Warren
Buffettâs advice for business.
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This means that when otherâs are
acting greedily in the stock market,
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then donât take any risks, sit
quietly and wait patiently.
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If others are scared and the
stock market is lying empty,
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that is your chance to invest.
Moving to lesson number 2
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Warren Buffett says that it is better to buy a new
boat instead of repeatedly repairing one with a hole.
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This means that if your business is
bleeding, margins are falling, then
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Repairing things will not be enough.
They will just be a timepass.
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You will have to make a decision, even
If it means changing the line of business.
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3rd lesson is to be patient. Warren
Buffet states that the greatest enemies
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of earning and wealth are haste
and emotional decisions.
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He says that you have to be patient and
choose a company after thorough research.
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If the research and company are
right, then patience will be the key.
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The next lesson is to not invest
In a product which you love
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Attachment should not denote
investment. It should be based on
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A good team and a capable CEO because they
will make an ordinary product extraordinary.
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But, an underperforming head,
CEO, director or MD will turn
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capable into incapable and
extraordinary Into ordinary.
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The next lesson: hangout with
people who are better than you,
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those lower than you
canât give you anything.
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This is why Warren Buffett asked
Bill Gates to meet with him.
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Though, the meeting was decided to
Be for 30mins, it went on for 10hrs.
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Bill Gates said he hadnât met anyone more
interesting and Warren Buffett said the same.
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Because when u are with people better
than you, you donât feel time passing by.
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Thus, instead of being the boss of
those people lower than you,
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Spend time and learn from
those who are better than you.
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Next lesson, whenever you want to
invest, sooner is better than later.
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The earlier the better, because
delay is the enemy of success.
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Hence friends, if youâre delaying
any important decision or task,
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My only answer to you
Is the sooner the better.
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Finally friends, we come to
Warren Buffettâs biggest lesson.
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This lesson is something every
Business owner should apply in
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His organisation and himself. The
advice is knowledge investment.
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Warren Buffet reads 500
pages in a day. He says that,
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âI just go to office and try to read
500 pages, because I want to know
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What is happening around the world,
What decisions are being taken, etc.â
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He also said that, âI knew I would
be called to speak in organisations,
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address companies, public and the
government when I became successful.â
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Because of this and stage fright, he invested
in learning and improving public speaking.
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Today I advise you that if you
want to be successful, then
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Invest in knowledge, invest in
Training yourself and invest in
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Public speaking. Tomorrow when
You are successful, you will feel
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Ashamed if you are unable to speak.
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This is why we have launched an
exclusive public speaking course,
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With only 50 people allowed, each
Person scared or weak at speaking
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Is transformed scientifically into
an outstanding public speaker.
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So, invest in yourself in your free
time if you want to walk the same path.
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Otherwise, it is your life, your
responsibility, your wish.
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Warren Buffett has given 2
revolutionary terms, the first is
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Long term approach. Whatever you
want to do, do with vision and foresight.
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If youâre hiring a person or investing
in a factory, keep your vision in mind.
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The 2nd term is compounding interest.
He says that with long term approach,
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The miracle of compounding will
follow. This is because doing a thing
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Once will yield no result, only if you
do it repeatedly will it benefit you.
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For eg, Investing Rs5000 per month
For 50yrs, can make you a millionaire.
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We often think that 50 is
near retirement age, now
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The next generation will handle things.
However, today Iâm telling you that
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an achiever never retires. Warren Buffet,
on his 50th birthday, had a net worth of
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Rs 22000 crore. Today, it is
approximately Rs 53 lakh crore.
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It wasnât the case that people
Didnât believe him during this journey.
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He received taunts and satirical remarks.
Even his father in law said that he
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didnât believe in him and was
confident Warren would fail.
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However, today Warren Buffett has
taught us a new lesson in success.
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Today, people like Barrack Obama
praise Warren Buffett highly.
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Warren Buffett earns daily what other
celebrities earn in years. Despite this
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He is the epitome of politeness.
Even if we are able to absorb a
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Part of this manâs lifestyle into our
own, we will be successful.
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One last thing. If your kids are
dreaming big at a young age,
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inspire them instead
of making fun of them.
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And make them read the auto-
-biography of such giants.
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Thank you and have a good day!
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