Here’s a lesson from Bill Gates to the rest of the world. He is the most successful person, being on Forbes Top 10 Richest List, yes, but he still looks up to Warren Buffett, the world’s most respected investor, to improve his business. During the annual shareholder’s meeting of Berkshire Hathaway, Gates revealed through his LinkedIn post that he enjoys learning from Warren and “gain his insights into how he thinks.”
Here are three lessons Bill Gates said he learned fro Warren Buffett.
Lesson 1. “It’s not just about investing.” According to gates, people want to learn how to invest from Warren Buffett, but what they fail to consider is Buffett has very powerful business thinking. Gates admitted that when he first met Buffett, he didn’t think the guy would think profoundly about a business. During their very first meeting, Buffett asked Gates “Why can’t IBM do what Microsoft does?” “Why is Microsoft so profitable?”
Lesson 2. “Use your platform.” Buffett writes an annual business letter to his shareholders and encouraged Gates to do the same. According to Gates, this kind of gesture helps investors invest better. He also uses the letter to criticize stock options or financial derivatives. He has used the letter to make a stand on increasing the taxes of the rich, which by the way, runs against his personal interest.
Lesson 3. “Know how valuable your time is.” This one painful truth that you can’t buy time with however big amount of money you have has been one of the favourite mantras of the most successful people. Buffett spends time with the people he trusts most. He doesn’t waste his time on useless meetings. Not everyone can get to ask Buffett his strongest advices but those who do are very lucky.