Leadership Lessons by Warren Buffett

Leadership Lessons by Warren Buffett

In a speech to business students, legendary investor Warren Buffett set an interesting task.

He asked the students to look around and think about which of their colleagues will be successful in the long run, to such an extent that they want to receive 10% of this person’s income for the rest of their lives.

“You will most likely choose a person who has leadership qualities and who can make other people pursue their interests. This will be a person who is generous and honest, someone who gives recognition to other people for their ideas, “says Buffett.

However, the qualities he describes are less and less common in today’s business environment. One thing is clear, we all need more moral leaders.

To do this, we need to change our understanding of what a good leader does. The tough but charismatic, super-masculine man that many still consider the ideal leader is a tragic misconception of what it means to be a great leader. While determination and quick wit are important leadership qualities, the same goes for compassion and attention to others.

How can we achieve the desired change in leadership? By identifying and encouraging the development of good leadership traits. We can start with Buffett’s favorites for selflessness, generosity, and honesty. Here are three more qualities that will improve your leadership skills and bring a brighter future for your employees.

Take care of your subordinates

“Caring for your people must be more important than results. Then, and only then, they will do their best to make your business successful, “says Dr. Jim Loer, author of “Leading with Character: 10 Minutes a Day to a Brilliant Legacy, advises leaders.” According to him, caring for others is an active process. “A leader who understands the essence of leadership loves his employees for what they do. They give life to your business, without them you have nothing, “he said.

Manage empathy

Demonstrating empathy on the part of the leader is key to maintaining high engagement among his subordinates. This type of leader invests time and effort in listening to the needs, problems, and hopes of their employees and in taking the necessary measures to meet their demands.

Be there for your employees when they need support and help

It is up to the leaders to remove the obstacles that hinder the development of workers. Before blaming your team’s poor performance of certain people lately, consider the unprecedented stress and strain they are under in their current working environment. A recent survey found that 53% of Americans say their mental health is negatively affected by pandemic concerns. If you haven’t done enough as a leader to pay attention to the mental health of your company’s employees, now is the time to do something about it.

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