Warren Buffett Says 3 Choices in Life Separate Those Who Achieve From Those Who Dream

Warren Buffett has captured our hearts and minds with unconventional wisdom that tends to defy today’s business rationale. 

Take, for example, these three well-known Buffett life strategies of most doers and achievers and contrast them with those who only dream about their goals. The key is to act on them daily with discipline and commitment. 

1. Condition yourself to say no to most things

Here’s what Buffett said verbatim: 

The difference between successful people and really successful people is that really successful people say no to almost everything.

Leaders often find themselves inundated with opportunities, requests, and tasks. The key lies in distinguishing between what is a top-shelf priority and what is merely busy work that doesn’t advance your mission. By adopting a strict selective approach, leaders can focus their time and energy on endeavors that align with their vision and goals.

Steve Jobs, the co-founder of Apple, was known for his unwavering focus on innovation. He said no to numerous product ideas, ensuring that Apple’s resources were channeled into groundbreaking technologies like the iPhone and MacBook. This selectivity played a pivotal role in Apple’s success.

2. Choose people operating on integrity

Integrity is such a non-negotiable aspect of Buffett’s business practice that he vows to hire only people who possess it. Here’s what he said:

If you’re going to get someone without integrity, you want them lazy and dumb. 

Buffett’s assertion that, if lacking integrity, you’d prefer someone “lazy and dumb” highlights the danger of pairing cunningness with a lack of ethics. Leaders might encounter self-centered individuals who manipulate others for personal gain over being a team player who serves the organization’s mission. Leaders must be vigilant against such behaviors, promoting a culture that values hard work coupled with honesty and loyalty.

3. Build up your knowledge daily

According to Buffett, the key to success is to go to bed a little smarter each day — what he calls the Buffett formula. Here’s Buffett from years back:  

Read 500 pages like this every week. That’s how knowledge builds up, like compound interest.

The idea of reading 500 pages a week might sound daunting, but the essence lies in the compounding effect it has on your intellect — much like compound interest in investing.

As a leader, consider adopting a similar approach to learning. Set aside dedicated time each week for reading, focusing on diverse topics related to leadership, team dynamics, and personal development. It doesn’t have to be an overwhelming goal; start with a manageable number of pages and gradually increase it. The point of the Buffett formula is to make whatever progress you can by learning new things and improving your life on a daily basis.