 For years, I have dedicated myself to reading books about money, life, motivation, and general topics. I found much more fascinating the story of successful people. The reason is simple. Reading the stories of people who have succeeded on the path you're trying to tread will reduce your mistakes and increase your chances of succeeding. I can't boast of having achieved some monumental success but the lessons I have learned from these successful people have helped share the way to think about and handle finances. One such person is Warren Buffett. Because of July 2020, Warren Buffett's network is $71.6 billion and is the 4th wealthiest man in the world. Yet, he didn't start out this way. He started his business adventure very early and has been known to be committed to identifying opportunities for investment and jumping on it real fast. I write a summary of his story and in this video, I will be sharing some lessons for young entrepreneurs from the life of Warren Buffett. Subscribe to this channel if you're new. 1. Someone's sitting in this shade today because someone planted a tree a long time ago. This is one of the reasons I am desperate to create and set up businesses. I live in a country where millions of people are unemployed, yet our university still churns out over 1 million graduates each year. Graduates who hope to secure a job in the midst of high unemployment will live in a society that wants to solve new problems with old thinking. It's not possible. Great things don't fall from the sky, while not everyone will become entrepreneurs. Certainly, not everyone will be employees either, but as long as we keep maintaining the mindset that jobs are the only way out of the unemployment mess we are in, no one is going to do anything and this problem will keep hitting us in the face. A lot has been published on the importance of identifying your talents, gifts, passions, etc. and starting a business with it. Yet, people can be so lazy they literally want to be spoon fed. If we don't build today, there certainly aren't going to be somewhere for others to leave tomorrow. If we don't sacrifice today to provide all this good to make our society better in terms of creating companies and businesses that grow and succeed, we can keep praying from now until tomorrow. Nothing will change. If things must change, the people who should create jobs ought to take their tasks seriously and get to it. And by people who must create jobs, it should not exempt you. 2. Risk comes from not knowing what you're doing. I do not know terribly much about how to succeed in business, but I know the road to failure is gambling away your life. One of the reasons why people struggle financially is because they do not focus on what their lives are made for. As much as it is great to start a business, most business success has created businesses in areas of their passion. You may not always work in areas of your passion, but you will only experience repeated unending success in areas you are passionate about. Warren Buffett has always been noted to be able to memorize large columns of numbers. He has always been a mathematical genius and so had always known how to add numbers to get good results for investments, so it was okay that he pursued investments and succeeded. Find your place and stay there. You may not have to start working where you are passionate at first, but your end goal should be doing what you are passionate about, for it is in that area that you will succeed. 3. I always knew I was going to be rich. I don't think I ever doubted it for a minute. It took me a long time, but I learned quickly that believing in yourself is a prerequisite to succeeding in business and all of the areas of your life. Have you observed that while you were in high school, the ugly boys got the girls where the handsome guys hardly do so? Well, it turned out that those guys are bold and not shy to approach girls while the others are. People who believe in themselves succeed. Not believing in yourself will make you look down on yourself, sell yourself short and never ask for what you deserve. In most UFC fights, you can tell who is going to win just by the comments of each fighter. Muhammad Ali was known to intimidate his opponents with such boldness and confidence in himself that most opponents would have wilted under Ali's confidence statements before the start of the match. If you don't believe in yourself, you won't succeed in business because you will always have those around the block who want you out of business. 4. Chains of habit are too light to be felt until they are too heavy to be broken. Habits may seem cheap, but bad habits are often hard to break. For some years, I found it difficult to be up early from bed. Then as I grew into my 20s, I woke up as early as 3am and soon got so used to it that years after, no matter where I am, I can't imagine myself not waking up that early anymore. It has become a habit I'm finding hard to break. Spending all you earn may seem like a little thing now, but it soon becomes a habit you find too hard to break later. Stop it. You may keep getting away with a lack of integrity now, but soon the habit catches up with you. 5. It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you will do things differently. You can build your business in 15 years only to ruin it in one day by a single foolish decision. Your business is your child and if you were treated like so, I figure you will be careful about the kind of choices and decisions you make around it. I know folks who have ruined their business by just a single decision they made. Recently, a business I know lost the financial fortune to a manager because the business owner didn't make a written agreement with a said manager. It is going to take you so much to build a successful business, it behooves you to take the responsibility to be very careful about the decisions you make in keeping it. Success in business doesn't come easy. It comes with checking and cross-checking again to be sure your decisions are right because if this baby fails, it is as well, your failure. If this video inspired you, like the video, we love you.