Bill Gates and Warren Buffett Ponder the Elements Of Success
1/21/2013
Bill Gates and Warren Buffett, among the richest men on the planet, are great friends. They agree on many things, not the least of which is the main ingredient for success. To quote Buffett, page 523 of his book, SNOWBALL:
“Then at dinner, Bill Gates Sr. posed the question to the table: What factor did people feel was the most important in getting to where they’d gotten in life? And I said, ‘Focus.’ And Bill [Gates Jr.] said the same thing.”
As an entrepreneur and business owner, many times I’ve wondered if there’s a blueprint for success. An equation, perhaps? I’m an engineer, I like equations. Focus? Can it be that simple?
Over the years I’ve taken it way beyond wondering. How, exactly, have successful people made their millions? To find out, I’ve studied dozens of biographies: Walt Disney, Charles Schulz, Michael Jordan, Aerosmith, Henry Ford, Willie Mays, Les Schwab, Milton Hershey, Mark Twain, Will Rogers, J. Paul Getty, Stephen King, to name a few. I read and then reread Jim Collins’ classic, GOOD TO GREAT. Then I read his latest, GREAT BY CHOICE. I devoured Covey’s SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE. I’m an eager student of Dale Carnegie and Napoleon Hill.
This research has revealed certain recurring truths. Here’s my take:
Success = PEARL (Passion Effort Ability Risk Luck)