What Entrepreneurs Can Learn From Warren Buffet

Whether you like or dislike him is irrelevant for our purposes today. The fact remains that he is, without question, one of the most successful entrepreneurs of our time.

Berkshire’s Chairman and Chief Executive Officer has been at the helm of his investment bank for 58 years. In that time, his shareholders have seen a total return on their investment of 3,787,464%.

That’s a crazy number, one that any of us would be proud to have. Yet the 92 year-old CEO billionaire is modest about his successes.

In a recent letter to his shareholders he said, “Our satisfactory results have been the products of about a dozen truly good decisions. That would be about one every five years.”

Mr. Buffett earned an average return on his investments of over 3.7M percent by hitting it out of the park only once every five years. He also conceded that the rest of his investments have been only average at best.

Take a minute. Step back and think about that. The implications are astounding.

The first is that failure and average should never stop anyone. They’re constants in entrepreneuring.

I’ve been one of his shareholders for years and saw him buy heavily into the oil business years ago with stakes in Exxon and Occidental Petroleum. He then ended up losing his shirt and retreated with his tail between his legs.

At the time he said that he wouldn’t be getting back into that business. He recently bought back into the oil business by becoming the largest shareholder of Occidental and Chevron.

He never lets a failure stop him from achieving his goals. In other words, he has learned how to fail well.

Something else to consider is the fact that he’s 92 and still not slowing down. He hasn’t needed to work for decades and still knows how to put in a solid day.

Why? Because he’s not getting older. He’s getting better.

One concept that’s hard for many is the fact that the world is owned and controlled primarily by people over the age of 60. Why? Because it simply takes that long for most to learn the art of entrepreneuring

People may be born with the instincts and the skills that an entrepreneur needs, but that must be honed and perfected before most can achieve success. And even after that mastery, many only have successes a small percentage of the time. Like Mr. Buffett, the billionaire, the rest is just average.

Success for most takes time, lots of time. Such is the way of the world.

Let me leave you with this.

The World Health Organization (WHO) recently downgraded C-19 to no longer being an emergency. Glory, hallelujah, praise whatever God you pray to in the highest.

My Brothers and Sisters, the worst part of the nightmare is finally over. It’s still a global health threat, just not an emergency.

The scourge that killed so many and ruined so many lives has finally retreated. The nightmare that led to the closing of so many businesses leading to unparalleled losses and lay-offs, has finally come to an end.

I just thought we should take a minute and realize that the ordeal is over. I’m going to go home and burn every mask I can find.

We’re all going to get through this. Let’s get through it together.

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