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This simple piece of advice from Warren Buffet can have a profound impact on your life. Read on to learn what it is.
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Warren Buffett is not only one of the most successful investors in the world, but also a source of wisdom about achieving success. In a recent interview with Bill Gates, he shared one key piece of advice: “Associate with people who are better than you are.” This might sound counterintuitive to some, but Buffett’s rationale is that surrounding oneself with people who challenge and push you to improve will ultimately lead to personal and professional growth.
Who you hang around with matters
Want to become wealthy? Hang out with wealthy people. What to become smarter? Hang out with smarter people. The idea of associating with people who are better than you are is not new, and it has been echoed by many successful leaders throughout history.
Jim Rohn, a motivational speaker, famously said, “You are the average of the five people you spend the most time with.”
This means that the people you surround yourself with significantly impact your mindset, behavior, and even your level of success with your personal finances. By surrounding yourself with people who are more knowledgeable, experienced, or driven, you can learn from their example and be inspired to aim higher.
Who should you associate with?
But what does it mean to associate with people who are better than you are? It doesn’t necessarily mean seeking out celebrities, billionaires, or industry leaders and trying to become their friends or mentors (although, that wouldn’t hurt).
Rather, it means actively seeking out individuals who possess attributes or skills that you admire or seek to develop, and finding ways to learn from them. This could be through attending industry events, joining networking groups, taking classes, or even following them on social media.
The point is to make a conscious effort to surround yourself with people who can provide value and inspiration. On top of that, you don’t want to just surround yourself with “yes” people either. You want people who will be honest with you and tell you the truth. Negative feedback is how we get better.
Be humble
Of course, associating with people who are better than you also means being humble and receptive to feedback and criticism. It can be intimidating or uncomfortable to be around people who seem to have it all figured out, but true growth comes from being open to new perspectives and willing to learn from mistakes.
Additionally, associating with people who are better than you are can help you identify weaknesses and blind spots, and create opportunities to work on them. As Buffett put it, “It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.”
Don’t just be a taker, be a giver
Another benefit of associating with people who are better than you are is the potential for collaboration and mutual growth. Surrounding yourself with diverse and talented individuals can lead to partnerships, joint projects, or even mentor-mentee relationships.
This can not only broaden your knowledge and skills but also create opportunities for career advancement and business success. However, it’s not enough to just take from them. We should also offer something of value in return.
Instead of focusing on what we can gain from others, we should think about what we can do for them. Whether it’s offering our expertise, our time, or our support, being a giver can help us establish deeper and more meaningful connections. Ultimately, the key to building lasting relationships is to approach them with a combination of humility and generosity.
Warren Buffett’s advice to associate with people who are better than you are is a simple yet powerful approach to achieving success. By surrounding oneself with people who challenge, inspire, and teach, individuals can elevate their own mindset, behavior, and level of success. It requires being proactive, open-minded, and humble, but the potential rewards are substantial. You don’t have to do it alone. Seek out mentors and like-minded people who are willing to support you. So, go out there and start elevating your game by associating with people who can help you achieve your goals.
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