Warren Buffett is one of the richest men on the planet. There are a lot of things that current and aspiring entrepreneurs can learn from the master investor.
According to Entrepreneur, Warren Buffett shared his top 3 advice for success in business at the White House's United State of Women Summit. He also revealed other lessons that he has learned over the years.
1. Tap on women's leadership potential. According to Buffett, America has not achieved its full potential because it did not offer the same work opportunities for women. "It was like somebody playing with one hand tied behind their back," he said. He also shared a time when he asked his wife who he might hire for a new director role. His wife suggested a woman, Charlotte Guyman, and he immediately agreed. He did admit, though, that he was not able to initially consider Guyman because of her gender.
2. Don't just be content with satisfying your customers, delight them. This could be Warren Buffett's most important piece of advice for entrepreneurs. "If there's one thing to remember: Delight your customer," he said. "If you've been treated well and honestly, if you've been delighted by the person you're doing business with, you're going to return to that person."
CNBC noted that Buffett clarified that delighting your customers is different from merely satisfying their needs. Customers don't usually remember how much they paid but they will definitely remember the experience they had with your company. "Your customer is going to get to vote and talk, and you want them out there as salesmen for you," he added.
3. Buffett also urges college students to find their passion. "Find the job that you would hold if you didn't need to have a job, so that every day is fun," he revealed. "Because if you're having as much fun as I'm having at 85, and I hope you do, there's nothing like it."
