At 91 years old, Warren buffet has consolidated an important cart in the business sector. This has led him to be the sixth richest man in the world, according to ‘Forbes’, and the founder of Berkshire Hathaway, a conglomerate with shares in renowned companies such as American Express, Coca Cola, Tesco and others.
If you lose money for the company, I’ll be understanding. If you lose a shred of reputation for the company, I’ll be ruthless
Buffet He has also become an authority on financial and economic advice. So much so that it is known as the ‘Oracle of Omaha’.
He has an iconic phrase that, according to him, has led him to success: “It takes 20 years to build a reputation and five minutes to ruin it. If you think about it, you will do things differently“.
His teaching, according to his column for the ‘INC’ medium, will allow people to move more cautiously. “If you lose money for the company, I will be understanding. If you lose a pinch of reputation for the company, I will be ruthless, “says the tycoon.
Buffet defines reputation as an “invaluable asset that must be protected every day.” For him, this is a way of measuring success, although it is fragile and can be lost in minutes.
Now, to maintain it, the employer recommends that you should not risk the integrity. That is, stay true to yourself and act according to your own values and principles.
“We look for three things when we hire people. We look for intelligence, we look for initiative or energy and we look for integrity. And if you do not have the latter, the first two will kill you, because if you are going to get someone without integrity, you want them lazy and foolish,” he says .
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For him, it is much better to place trust in those people who act with character and integrity because that provides security about their decisions and behaviors.
Finally, Buffet left important advice to his readers: “Be considerate and respectful of the way your decisions affect others and take every opportunity to add value to those you serve.”
Buffett owns about one sixth of Berkshire Hathaway, the company he took over in 1965 and grew into a giant conglomerate with dozens of businesses and a huge investment portfolio.
In recent months, Berkshire Hathaway’s accounts have benefited from the good performance of the markets and, in particular, from the value that their extensive investments in companies such as Apple have gained.
He currently has a fortune of more than 100 billion dollars.
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