Warren Buffett will go down in the history as one of the wealthiest people of all time. His experience in the business world is greater than most and he knows what traits to look for when hiring or working with someone for it to be successful. So in this video I’ll share with you the 3 traits that Warren Buffett looks for in a person when hiring.
Warren Buffett is a sought after mentor for many schools and students and it’s not hard to understand why. His knowledge is beyond what people are taught in schools and when he’s invited to these public events or universities, people don’t hold back of trying to drag answers out of him. So when people ask him for advice about how to make it in the world of business he sometimes plays a little game with them.
He asks them to pick a classmate, but no just a random one, the one classmate they would choose if they could have 10 % of their earnings for the rest of their life. And remember this is at stage where no one is actually making any money but are still in school in an attempt to graduate and later make money. So which classmate would you pick and why?
Are you going to pick the one with the highest IQ, or are you going to pick the guy who can throw a football the farthest? Maybe the one with the highest grades? Well probably neither of these and Warren emphasizes that the qualitative factors are more important than what you can measure or read on paper. He makes the students think about the characteristics or the traits they think are important to be successful and in this case earn a lot of money.
What they realize is that the traits that are seen as positive and great are most often based around the person they responded the best to and that had leadership qualities. The person who was going to be able to get other people to carry out their interests and had traits such as generosity, strong morals, kindness, honesty and giving credit to other people. To sum it up with one word – Integrity.
He also asked them to think about the traits that are seen as negative and undesired to have in order to succeed. The most common ones were selfish, dishonest, cutting corners, lazy and traits of that nature.
Now he asks one last question. Which of these traits are you incapable of developing and which are you able to stop? The truth is that you’re able to develop all of these traits as well as getting rid of undesired ones. And to quote Warren Buffett, he says “the chains of habits are too light to be felt until they are too heavy to be broken” and so you’re better of developing these habits or traits earlier in life before it’s too late. You can develop those desired traits and be that person you choose to back with the 10 % earnings because either way you’re stuck with 100 % of your own earnings.
And the reason for why developing your integrity is important is because it’s what Warren Buffett values the most in a person. And the other traits he looks for is intelligence and energy. However if the person only has the last two and lacks integrity, he would rather have them lazy and stupid or work for someone else. The definition of integrity basically means the quality of being honest and having strong moral principles and this is absolute key and he thinks that if you have these three traits combined you are bound to succeed and will do so, not through some dirty methods, but through making people want to work with or for you and being admired for what you stand for.
And I don’t know how energetic you are but developing a sense of taking more initiative more frequently is something you can do. And I know for a fact that you’re very intelligent since you’re watching my videos wink, wink, and you might wanna click that little subscribe button while we’re at it.
And as Warren puts it when it comes to your integrity – “You decide to be dishonest, stingy, uncharitable, egotistical, all the things people don’t like in other people. They are all choices. Some people think there’s a limited little pot of admiration to go around, and anything the other guy takes out of the pot, there’s less left for you. But it’s just the opposite.”
So what does it really take to have and lead with integrity? Consciousness and choice. You have to intentionally reflect on how you act, how to behave and what to say so that it consistently reflects on your beliefs and values. Integrity means whole and complete in latin hence it requires that wholeness and consistency of character. There shouldn’t be a fluctuation in behavior depending on if you’re at work, with your family or with your friends. You are always you and should be able to follow the morals and principles you have consistently. However this can be extremely difficult at times, but is what separates the people we admire from the ones we don’t.
The greatest of leaders don’t necessarily share the same beliefs or agree on how a business should operate, but they do share the consistency of behavior and actions. They have strong morals and principles no matter the environment, which creates a sense of comfort and security among colleges and employees.
Other people can recognize someone with integrity, even though they might not be able to put their finger on what it is but they can just sense it. To be that person and leader with crystal clear values displays true confidence and it’s very difficult to but them of balance because they always know where they stand and how to act in order to stay true to themselves.
And this is what Warren Buffett acknowledges as the greatest traits in order to become successful, not only in business but in life.