Warren Buffett made his $109 billion fortune using a value-based investing strategy and being frugal to the point of obsession. But you don’t need the Oracle of Omaha’s money or know-how to boost your bank account. You just need one thing in particular.
In a video uploaded to LinkedIn in 2018, Buffett dished some secrets to his success. The first is to invest in yourself. Believe in your vision. But even more importantly, you must get others to believe in it as well. Learn to communicate better if you want to increase your net worth.
“The one easy way to become worth 50 percent more than you are now — at least — is to hone your communication skills — both written and verbal,” he said, according to CNBC. “If you can’t communicate, it’s like winking at a girl in the dark — nothing happens. You can have all the brainpower in the world, but you have to be able to transmit it.”
It’s a sentiment that all of our business tycoons share. They know how to tell a story. Apple founder Steve Jobs seemed to embody the notion companies create desire as much as they create products.
British tech mogul Richard Branson considers himself to be in the storytelling business.
“Today, if you want to succeed as an entrepreneur, you also have to be a storyteller,” he wrote in a 2016 blog post. “Of course, it is no use being a good storyteller if your product or idea is rubbish. But it is not enough to create a great product; you also have to work out how to let people know about it.”
For some, this ability comes easy. They can weave a story and communicate their wants as easily as if they were breathing. But for most of us, it’s a struggle. Warren Buffett said he was the latter.
Warren Buffett Keeps this Diploma on His Wall, Not His Degree
The Nebraska native has an impressive resume to match his even more impressive investment portfolio. Buffett attended the University of Nebraska, Columbia Business School, and the Wharton School at the University of Pennsylvania. But you won’t find any of his degrees in his office at Berkshire Hathaway. There is one diploma he prominently displays, he said.
It’s a diploma from a public speaking course he took at Dale Carnegie school. It’s a business development program for young men and women. Warren Buffett said the course changed his life because it helped him overcome his anxieties about public speaking.
“I actually have the diploma in the office,” he told CNBC. “And I don’t have my diploma from college, I don’t have my diploma from graduate school, but I have got my Dale Carnegie diploma there because it changed my life.”