Jay-Z And Warren Buffett Discuss How To Be Successful

Jay- Z And Warren Buffett Discuss How To Be Successful

Amazing Video by Forbes in which Jay-Z And Warren Buffett Discuss How To Be Successful. Click here to watch on Forbes website.

This unlikely paring with Warren Buffet, the most successful investor of all time and Jay Z one of the most successful recording artists of all time who are complete polar opposites, but come together for this incredible interview with Steve Forbes. The one thing that they have in common is BILLIONS of dollars that they have made through their business endeavors.
It’s a clear example that you can come from different ends of the spectrum and still be successful and create e wealth for yourself.
In this hour long discussion you will recorded at Buffett’s office building, these two icons share their very different perspectives on success, wealth and the social obligations that come with each. They found a lot more common ground than you might expect!

Higlights of the discussion

  • Warren Buffett talks about why he wouldn’t want to compete with Jay-Z in the music business and how building a personal moat between you and your competitors is the best way to succeed
  • Warren Buffett talks about how his approach to giving money away has changed over the years
  • Buffett and Jay-Z talking about the role luck has played in their lives
  • Jay-Z takes on the problems in the music industry and what he is doing to change the way the business moves ahead
  • Jay Z discusses How he almost lost some of his incredibly valuable music on a flight coming back from Hawaii

Whilst discussing success, Buffet attributes his to getting started early on in his life. He had a good head start as he began looking at investment books from the age of 7, because of his furthers work in the investment industry.

Jay Z values his success to coming up in the opposite way, he entered the music/entertainment business later in life at the age of 26 after garnering much need life experience, which enabled him to hit the ground running.

Both men attribute passion and consistency as pillars of their success as well. They have been disciplined in their approaches as Buffett sticks to investments in industries he can understand and Jay-Z sticks to his own entertainment style rather than succumbing to new trends. As a value investor, Buffett stays away from the hottest new stock or industry that trades at astronomical P/E ratios.

Another commonality between the two men is the role of downplaying emotion. Jay-Z doesn’t let emotion get in his way of making decisions in terms of his music production. He doesn’t like to give in to what’s “hot” in the industry. Buffett takes the same approach.

On the topic of self-improvement, Buffett urges everyone to essentially invest in themselves by developing habits of success. He suggests that of the people you admire, list the characteristics about them you like and then learn to master those qualities. In investing, Buffett likes companies with wide moats and a competitive advantage. You can advance yourself he says if you “build your own moat around yourself.”

According to these two entrepreneurs, here are some of the core qualities to find success

  • Passion
  • Drive
  • Discipline
  • Ability to ignore emotion
  • Consistency
  • Ability to learn from mistakes
  • An element of luck

I hope you enjoyed this video where Jay-Z And Warren Buffett Discuss How To Be Successful. To view the original on Forbs please click here.

What other qualities are important for entrepreneurs to develop successful habits?

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