Warren Buffett is one of the richest people on the planet and perhaps one of the most generous philanthropists of our time.
His excellent reputation is due not only to hard work but also to personal modesty and professional integrity, writes Marcel Schwantes, founder of Leadership From The Core, for Inc.com.
The Omaha Oracle is respected for giving something back to society – he promised a significant portion of his wealth to charity, and in 2010 Barack Obama awarded him the Presidential Medal of Freedom, the highest civilian award in the United States.
For Buffett, the importance of maintaining a positive reputation is linked to three classic tips.
Don’t risk your integrity
In this, the entrepreneur puts his confidence that a person would not change his values, even when faced with challenging and stressful situations. Business is full of difficult decisions, so it is really important to be clear, even when faced with a crisis.
Buffett is certainly an example in this regard. He built his reputation after years of hard work, from a teenager with a talent for selling soda to get extra pocket money, to a self-built billionaire with a huge and diverse portfolio of insightful ideas and investments, certainly understanding the value of hard work and integrity.
This includes showing attention and generosity to others. Buffett knows how to build lasting professional relationships by carefully delegating positions and trusting that people can do the job assigned to them.
Buffett’s career shows that you don’t have to be ruthless to succeed. It is quite far from that.
If someone is facing a challenging situation, such as a crisis in the workplace that requires a quick solution, an interpersonal conflict that negatively affects, or even an exciting business opportunity that requires a thoughtful solution, they should be calm and not lose sight of the big picture.
Patience is a virtue that can be practiced until it becomes a natural part of the job. If a person tends to get too excited, deep breathing can help him overcome it and consider the prospects. This protects against ill-considered decisions.
Build a positive profile
Buffett’s reputation is based on his principled and focused approach to his personal and professional life. He shows that it is not only possible to be a confident and respected professional without sacrificing your humanity, but that it is preferable to be fair in your relationships with others.
When it comes to building a good reputation, there are a few things that are worth prioritizing:
- Establishing trust, transparency, and fairness
- Offering good value and high-quality products and services
- Treat others with dignity and respect
- Communicate clearly and quickly
- Providing community service
- Business practices must be a reflection of the leader, which means paying attention to how his decisions affect others. If professional opportunities are perceived as a chance for added value for the whole community, the reputation will affect the personal growth of the individual.