“When the storms come your way, will you be ready?” Are you sure or not? If not then then here is the Warren Buffett rule to never fail ever even if you fall or suffer adverse situations.
Let’s see what Warren Buffett advices on how to avoid failing.
The Noah Rule
- You know who is Noah? Noah is the biblical prophet who saved lives of many animals and humans by building ship merely on the anticipation on great floods.
- What Warren Buffett wants to say from this is that become imagery leaders who can anticipate the market conditions.
- This is the first rule by which one can foresee the adverse situations before they happen and minimize the loss.
- From the investing view, Warren Buffett rule says to invest in those companies who are strong enough to adapt the market changes. He is saying to invest in companies that doesn’t fluctuate much irrespective of how market behaves. This will help in levelling your risks.
- Warren Buffett had also confessed that he anticipated September 11 terrorist attack but he himself violated his own Noah Rule. In his sage advice, he says not to ever violate this rule.
Hire Smartest People In Organisation
- Is there any way to not to fail? Yes! Work with the smartest people, they either have the solution to avoid failing or will offer you with solution to how to overcome failures.
- This rule is also verified by Amazon Founder, Jeff Bezos. He says, “Every time we hire someone, he or she should raise the bar for the next hire, so that overall talent pool is always improving.”
- Steve Jobs affirms this Warren Buffett rule by saying,” It doesn’t make sense to hire smart people and tell them what to do; we hire smart people so they can tell us what to do.”
So in nutshell, Warren Buffett rule to not to fail summarizes in the argument that every business problem can be solved by investing in talent hiring. When people of your business succeed you also succeed.