that you don’t feel good about compared
to something you’d feel good about yeah
make the change you can’t say I’m gonna
suddenly become a terribly attractive
person when I’m 60 it just doesn’t work
that way
so pick up the right habits now the test
isn’t whether you get the greatest does
this idea in the world the first time
out the test is whether you keep
learning as you go along what your
strengths are what’s that belief nation
at seven my one word is believe and I
believe in you I believe you have an
amazing gift inside you that I want to
see exploded onto the world now I
started the meant to me series to try to
hang your own people who’ve done a lot
more than us who’ve accomplished great
things and hopefully by spending a
little more time with them some of their
mindsets their beliefs their way of
thinking seeps into us to help us become
the best version of ourselves so today
we’re going to learn from one of the
best Warren Buffett and five simple yet
powerful pieces of his advice mentor me
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alright let’s kick it off with number
one be determined to succeed I would
like to tell you of two women Oh
that each sold the business to Berkshire
Hathaway to me actually for many many
many millions of dollars both of them
started with twenty five hundred dollars
by a coincidence was the exact same
Ahmad it was everything they had in the
world and one of them was a woman who
landed in Seattle in 1917 couldn’t speak
a word of English had a tag around her
neck the tag said Fort Dodge Iowa the
Red Cross got her to Fort Dodge where
she was reunited with her husband who
would come to the country a couple years
earlier and she lived in Fort Dodge for
two years and as she put it she felt
like a dummy she couldn’t pick up the
language and she couldn’t learn a word
and so she decided and she and her
husband decided to move to Omaha so they
came to Omaha in 1919 and there she
found a small colony of Russian Jews so
she started feeling more at home and
then as her oldest daughter went to
school she would come home this daughter
Frances and she would teach her mother
the words that she learned in school
that day and this woman rose bumpkin
spent 20 years saving money bringing
first her siblings over her mother and
father fifty dollars at a time she sold
used clothing to do it she had four
children during this period and by 1937
after 20 years
she saved $2,500 she went to Chicago
and she bought what she put a furniture
her dream had always been to open a
furniture store and this woman would
never gone to school one day in her life
with $2,500 but with the same spirit
that the people in this room had about
having a dream and working to accomplish
that dream she built a business which
she sold with me in 1983 for 60 million
dollars approximately in which which did
a billion and a half dollars worth of
business last year the fourth generation
is working in that business this woman
Rose blumpkin lived while she she worked
for me until she was 103 and then then
I’m not said then she retired and she
died the next year which is a lesson to
all the purchasers managers it pretty
much her retirement
nothing you can’t tell what’s going to
happen but mrs. B with her $2,500 one
further fact about her she could not
read or write and she went into a
furniture business and she didn’t bring
anything in unique in furniture but she
brought a determination to succeed she
knew she could outwork anyone else she
knows she cared about her customers she
worked at Murray low gross margins but
she built this incredible business
number two tried to find your passion
last week honored 60 of them from our
Burton’s South Dakota State I just don’t
try to find your passion and you know I
mean may not find it the first time but
you know don’t sleepwalk through I find
something that you really enjoy doing if
you can do it and not you know not
everybody is lucky enough to be able to
find that but it’s it ought to be your
goal to make ten dollars a week more
doing something that you don’t feel good
about compared to something you’d feel
good about yeah make the change bill
said something I thought was really
interesting he said the thing you do
obsessively between age 13 and 18
that’s the thing you have the most
chance of being world-class at yeah
they’ll said his one thing was coding
what was your one investment no bill and
I his father many years ago right after
we met had us a group of about 20 right
down on the sheet of paper one word that
they thought accounted for their success
and Bello guy who may only met twice
didn’t know what the other one was
writing down we both wrote down the same
word which was focused and he was
focused on software I was focused on
investments and it it gave me a big
advantage to start very young there’s no
question about it
number three be the person you want to
be if you look around you at the people
you admire you know they have certain
qualities I mean you’ve got you’ve got
friends why do you like them you know
generally you know that they generally
they have an upbeat attitude on life
generally they are generous people
they’re humorous people there are people
that do more than their share they’re
people that are thinking about something
nice they can do for you and all those
qualities attract you and none of those
are our innate at Birth I mean you you
can acquire those and then there’s other
people to turn you off you know and they
have habits they take credit for things
they didn’t do they don’t show up on
time whatever it may be they’re little
dishonest about things and if you’re
looking at your life at a young age like
you are and you can choose what kind of
a person you can be
why not be the person you admire rather
than the person you can’t stand it so
simple so just write down the qualities
you liked take you to take your five
best friends why do you like them and
just write down those qualities and you
will find there’s no quality there that
you can’t have yourself and similarly
with the five people you can’t stand to
be around put those put those things
down to turn you off about those people
and if they turn you off about them why
should you possess them you can it’s so
simple you know it’s it’s not it’s it’s
not like it’s not like some something
complicated that you think you should be
learning with the best educated as
investing in the stock market it its
enormous ly important to have people
work with you in life they’re gonna work
with you in life if they like you you
know and they may occasionally I mean if
you’re in the army or something you know
you may work for something
that you don’t like but by and large
you’re gonna get the best out of people
if they feel good about you and it’s
just so easy but you’ve got to develop
the habits early because you can’t say
I’m gonna suddenly become a terribly
attractive person when I’m 60 it just
doesn’t work that way
so pick up the right habits now and I
will guarantee you if you actually just
write down those qualities and think
about it you will find you can have
every one of the attractive qualities
get rid of the ones that are negative
and your life will be different number
four the light customers Henry Ford as
you may know failed twice before he
started the Ford Motor Company in 1903
any the the test isn’t whether you get
the greatest does this idea in the world
the first time out the test is whether
you keep learning as you go along what
your strengths are and what you can do
for your customers what you can bring
especially to the party and to do that
you need you need a genuine a genuine
desire day-in day-out to delight the
customer I’ve never I’ve never seen a
business I’ve seen a lot of businesses
but I’ve never seen one that delight the
customer that that doesn’t succeed I
mean what you want is that customer the
next day when they think do I want to
rent a car or do I want to buy some
furniture what goes through their mind
you know it’s the place where they’ve
had a great experience
I don’t know what I paid for this type
actually probably if somebody gave it to
me proof for the purposes of the speech
I will say I I have no idea but why they
are the shirt I’m wearing others but I
do know I will remember how I was
treated what I bought it I’m with you
you long forget about the price but you
never forget whether you had a good
experience or a porridge furnace
with the purchase experience and number
five the last one before a very special
bonus clip is read I should mention one
thing about reading it was at the
library here at Columbia I wish I spent
probably more time than any other should
I love their practical II but and I
pulled the book out there happen to be
whose in America and it told me
something about my professor Benjamin
Graham and then I looked up and I went
to the library and I said I want to
learn more about this because I learned
this over here that changed my whole
life
you know we owned I go now because of
that library and directing me to some
other book and then following through on
that night it’s the chance I I read
about one-fifth the pace the bill does
but I still spend five or six hours of
everything I mean it just you can learn
so much I particularly love biography
just you know to be able to live the
lives of these people have been extorted
see them so extraordinary the lessons
and the you know the discouragements
they face just everything about it so I
now I’ve got a very special Warren
Buffett bonus clip around how anything
can happen in this world that I think
you’re really gonna enjoy but before
that my question of the day is I want to
know what did you learn today what did
you learn from Warren that you are going
to apply somehow to your life or to your
business leave in the comments below I’m
really curious to find out thank you
guys so much for watching I believe in
you I hope we continue to believe in
yourself and whatever you’re one where
it is much love
I’ll see you soon and enjoy the bonus
he is the only person who has ever from
scratch built a company that is in the
well Berkshire is a holding company of
sorts it owns a large number of separate
businesses that operate independently of
each other and to a great extent from
the parent company Berkshire Hathaway we
have maybe 70 maybe 80 businesses and we
ask them to behave in a way that doesn’t
hurt our reputation at Berkshire
other people do most of the decorating
of the office so various things come in
originally when I moved in in 1962 you
can see this I went down to the South
Omaha library and I think for a dollar I
got seven copies of old New York Times
from from big times like the panic of
1907 this is one 1929 obviously but I
wanted to put on the walls days of
extreme panic and Wall Street just as a
reminder that anything can happen in
this world I mean it it’s instructive
art you can call it ever if you had to
think of one word that’s most important
to you or that sums you Apple that would
be to like a little beacon they believe
nation if you want to know what the most
important one word is for Tony Robbins
Gary Vaynerchuk Oprah Winfrey will.i.am
and Howard Schultz I have a very special
secret video for you check the
description for details [Music]