The Biography of Warren Buffet

One of the wealthiest and most astute investors of all time is Warren Buffet

The Oracle of Omaha is a well-known moniker for him (Warren Buffett, 2015). Instead of being gifted, he is renowned for putting in a lot of effort and staying the course in order to succeed. Warren Buffet is recognized as being extremely wealthy, but he still cares about others. He is a generous man who started many charities to help the less fortunate and needy people in society (Warren Buffett, 2015). We learn about Warren Buffet’s early days as a stockbroker through his interview with Bill George (George, Sims & Gergen, 2013). We learn about Warren Buffet’s early days as a stockbroker through his interview with Bill George (George, Sims & Gergen, 2013). His job entailed networking with potential clients and thereafter selling them some shares. We come to understand that this job did not quite interest him due to the fact that it involved enticing customers to purchase shares that would not be of much value to their lives. Buffet felt that this line of work derogated his inherent values that required him to uphold honesty. His policy to date is putting the interest of the customers first and that is why he left his work as a stock broker to work at Benjamin Graham’s firm.

Warren Buffet’s Sweet Spot

It is true to say that Warren Buffet found his sweet spot while working as a stockbroker. A Sweet spot is an intersection where the things that one undertakes to do things they are good at and things they enjoy and get monetary or financial benefit from them. Buffet’s sweet spot revolved around ensuring that his work promoted the interests of his customers. The stock brokerage failed to do this since it involved false representation and enticing customers on frivolous assertions. As soon as Buffet found his sweet spot, he decided to leave the stock brokerage to work for Benjamin Graham.

Working at Benjamin Graham’s Firm

Graham’s firm provided Buffet with a platform where he could realize his sweet spot. It was evident that Buffet enjoyed the work he was doing at his new firm which was concerned with evaluating the value of stocks and various companies. After this evaluation was done, they would undertake to acquire the low-priced stocks or companies that they felt would be feasible for business (“Warren Buffett”, 2015). During the interview with Bill George, Buffet professed his admiration for Graham as an individual (George, Sims & Gergen, 2013). Warren Buffet also highlighted that by the time Graham closed his firm, he had acquired the necessary skills and knowledge to finally start his own company (George, Sims & Gergen, 2013).

Impact of Buffet’s Sweet Spot

Buffet’s sweet spot impacted on the lives of various stakeholders within the business environment. The first category of persons that are affected are the customers. His sweet spot is enshrined in values of honesty and integrity. These ensure that the interests of the customers are placed before the inherent interest of any business which is to realize profits. This ensures that businesses do not engage with the sole purpose of making money but rather with the desire to improve the lives and welfare of the customers who either utilize the business’ products or services.

The second category of people who are affected by Buffet’s sweet spot are his business associates and potential partners. He often seeks to understand the motivating factor of his potential partners and associates. In the event that a potential partner is motivated by the love for money, he rescinds the partnership for a person who is interested in the love for the business (George, Sims & Gergen, 2013).

The third category of people who are affected the employees who work for his companies. Buffet ensures that he creates strong bonds with the people who are mandated with taking care of his businesses and he is always transparent in his undertakings with his employees. He often exercises the laissez-faire leadership style while going about his role as the owner of the companies. This leadership style encourages autonomy among the senior heads that are in charge of managing the various companies. Before giving this autonomy, Buffet ensures that he has analyzed the various traits of the leaders in the company and is satisfied that they can perform up to his required standards (George, Sims & Gergen, 2013).

Conclusion

In conclusion, it is evident that finding one’s sweet spot is one of the greatest keys to unlocking one’s potential in both business and other activities in life. An individual should strive to look for income generating activities that they are good at and they are comfortable with. Undertaking a job or a business venture that one enjoys gives them the competitive advantage to foster innovation and proactiveness in dealing with the tasks that are required in the business. This has a strong effect on the overall performance of an individual and the productivity of the organization they are in. Virtues such as honesty and integrity in dealing with people are some of the intricate things that will distinguish between successful individuals and the ones that are not. Finally, before one engages in any work or business venture, they need to figure out the factors that are driving them. If a person’s motivation is money they might resort to unscrupulous ways to maintain profit. The desire to foster the growth of a business needs to be the underlying principle every individual should possess in order to maintain a successful business venture.

References

George, B., Sims, P., & Gergen, D. (2013). True north (1st ed.). San Francisco, Calif.: Jossey-

Bass.

Warren Buffett. (2015). Biography. Retrieved 28 March 2017, from

http://www.biography.com/people/warren-buffett-9230729