78: How Does Warren Buffett Determine Who Will Be Successful?

success

Warren Buffet was speaking to a group of students, one who asked, “How do you determine who will be successful?”  His answer was a perfect one.  (I love people who answer questions with questions.) He asked them to think back to High School and their graduating class.  He asked them to think about everyone they knew back then, and if they could pick one person that they would get to make 10% of everything that person made for the rest of their life, who would they choose?  Would they choose the valedictorian, the most popular, the one who got the best athletic scholarship, etc?  What trait do you think would most translate to future financial success?  As that was being contemplated, the next question is the one that is the show stopper, “How may people chose themselves?”  If that was all the money you could make was 10% off of someone, would you have bet on you?

If I asked you that same question right now, as you look around at everyone you know, and the question was, “Who is most likely to attain true success by the end of their lifetime?”  Would you bet on you?  I find this so fascinating that the entire episode is devoted to what it takes to believe in yourself.  I hope you spend time on the questions, as there is no one worth it, more than you.

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