Warren Buffett impresses, and incites respect. The Oracle of Omaha has inspired thousands of entrepreneurs, not only because of his ability to understand the global economy, but also because of his humility and his life lessons.
Here are 6 tips from Warren Buffett’s philosophy to apply directly to your online business.
What boost your growth and enter a new sphere.
1- Control your time
” Whoever controls his time is difficult to stop. ”
According to Warren Buffett, time is the most precious asset a man has. Planning your days is therefore a necessity, in addition to being efficient at work.
I only started organizing my working hours after a year of entrepreneurship. And the difference is obvious.
It is better to spend 1 hour on Sunday evening planning your week, than 8 hours a week looking for your next task.
Sometimes I just sat in front of my computer and wandered around on it, without doing anything concrete. Lost time. Spoils.
So remember this: plan, do.
These two words will save you precious time and avoid the procrastination so feared by freelancers.
2- Have unique products
Beyond financial analysis, Warren Buffets focuses on the quality of the products offered by the companies in which he invests.
He is convinced that the quality of the services offered by a company clearly determines its success.
You see what I mean ?
Have quality products that stand out from the competition. Offer real added value to what you sell.
Do you blog in the subject of abdominal weight training? Why should your visitors buy from you, and not from another? What is your competitive advantage over others?
This question is crucial when you are creating your product.
Look at your competitors. Look at foreign markets. And do better.
3- Do not listen to others
” My father had no interest in what others thought. With that, he taught me how life should be lived. ”
Warren Buffett is known for being a contrarian investor. And it is precisely his out-of-mass positions that made his success.
When I created my first blog, many people around me tried to dissuade me.
- “It will never work. “
- “It is not a real job. “
- “It is impossible it is a scam. “
How many times have I heard these phrases. From my friends, my family. But I did not let myself be discouraged. I continued.
Today, I am no longer asked such questions. I am asked how I did it.
4- Invest in your biggest capital: yourself
” I spend a lot of time reading. I read at least 6 hours a day, maybe more. The rest of the time, I reflect. And that’s all. ”
Here’s one of Warren Buffett’s best tips.
When we analyze the life behaviors of billionaires, reading comes back almost systematically.
And for good reason. In addition to developing your analytical mind, you gain knowledge, book after book.
You then transform this knowledge into skills.
Spend money on reading, it’s a form of investment.
The best investment you can make is yourself.
Books, YouTube videos, online training, seminars… self-taught training is accessible to everyone.
And if Warren Buffett is still training at his age, it seems wise to do it to ours. Not true ?
5- Be passionate
” You must love your work. It must be your passion. If not, go do something else. ”
Clear, crisp and precise.
I made the mistake once. Create a blog on a subject that was not particularly exciting. I gave up after a few months. And believe me, this will also happen to you if your blog niche doesn’t interest you more than that.
So take care to define what you are passionate about. It’s the key to long-term sustainability.
6- Can you look in the mirror?
” I’ve never seen my father do anything in his life, which he wouldn’t feel good about if it was in the headlines. ”
Again, your online business must match your values. I get a lot of emails from motivated young entrepreneurs asking me which blog niche earns the most.
But that’s not the main question.
If you create something that goes against your values, you will perish sooner or later. You will feel embarrassed to sell your products not enough qualitative, even false.
So have high quality products that align with your values and your line of thinking. So you will know what the feeling of accomplishment is.