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Monday,17 November, 2008#

Advice From the World's Richest Man

For my Gems of Wisdom today I thought I'd share with you all some advice from the world richest man according to Forbes - Warren Buffet.

THE LIFE OF THE RICHEST MAN IN THE WORLD

Here are some very interesting facts about the life of Warren Buffet (former second richest man who once donated $31 billion to charity), during a one-hour interview of him by CNBC (excerpts edited for clarity):

1. He bought his first share at age 11 and he now regrets that he started too late
2. He bought a small farm at age 14 with savings from delivering newspapers.
3. He still lives in the same small 3-bedroom house in mid-town Omaha that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.
4. He drives his own car everywhere and does not have a driver or security people around him
5. He never travels by private jet, although he owns the world's largest private jet company.
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis. He has given his CEO's only two rules:

Rule number 1: Do not lose any of your shareholder's money.
Rule number 2: Do not forget Rule number 1.

7. He does not socialise with the high society crowd. His past time after he gets home is to make himself some pop corn and watch television.
8. Bill Gates, the world's richest man, met him for the first time only 5 years ago. Bill Gates did not think he had anything in common with Warren Buffet. So he had scheduled his meeting only for half hour. But when Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
9. Warren Buffet does not carry a cell phone, nor has a computer on his desk.
His advice to young people: "Stay away from credit cards and invest in yourself", and remember:

A. Money doesn't create man but it is man who created money.
B. Live your life as simple as you are.
C. Don't do what others say, just listen to them, but do what you feel is good.
D. Don't go for brand names; just wear those things in which you feel is comfortable.
E. Don't waste your money on unnecessary things; just spend on what you really need.
F. After all, it is your life, then why give others the chance to rule your life?"

Take a moment to ponder if you can also benefit from the insight of someone who has already achieved!


Sincerely,

Joseph Bismark

Group Managing Director, QI Ltd

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QuestNet Mr Joseph Bismark

Profile

When Joseph 'Japadas' Bismark became the Group Managing Director of multimillion-dollar global conglomerate QI Group of Companies in December 2008, the face of the organisation that he co-founded a decade ago began to change immediately. His role of Executive Chairman of QI Group's subsidiary QuestNet also took on new life.

Even as Mr Bismark took over the mantle from his partner, he had already established a firm channel of communication with employees of the organisation and thousands of entrepreneurial aspirants through his popular Gem of Wisdom (GOW) series.

A firm believer in the power of teamwork, he has repeatedly stated, "I am only as good as my team".

A man of immense spiritual character and inspiration to his family, friends and business partners worldwide, Mr Bismark's leadership style is as unique as the man himself. His views and actions serve as a constant reminder that success is not just built on material achievements, but also on spiritual growth, inner satisfaction and peace, which we acquire through meaningful service to others. His musings on this Gems of Wisdom blog help ensure that employees and customers of the company never lose focus of the fundamental values on which the QI Group was built.


What are the Gems of Wisdom?

"Welcome to the blog of the Gem of Wisdom (GOW) series. This is the place where I am able to share my thoughts and reflections on life with all of you. My treasured employees within the QI Group have long been privy to these Gems through an internal QuestNet company email I send out a few times a week, as well as through the QI Group intranet. As many of the email and intranet's readers have shared the GOW with their friends and associates outside of the company, I have had more and more requests to make my little Gems available to a wider audience.

It seems there are many people out there who want to take a more proactive approach in analysing the world around them and their place within that world, both literally and spiritually. And so, here I am, entering the online universe in a humble attempt to spread a bit of what my own life experiences have taught me through these Gems of Wisdom. I hope you enjoy reading them as much as I enjoy writing them; such is the joy of sharing. Please join me in not only sharing my thoughts, but in sharing your own thoughts, comments, feedback, and even your own Gems of Wisdom, with me."

-- Joseph Bismark

Gems for All

True to that philosophy, Mr Bismark has empowered his team to give a voice to the changes they seek, helping him to lead the organisation into a new decade of excellence. Gems of Wisdom is that voice through which even the most junior employees of the group are able to take part in the evolution of the company and share their personal thoughts. By turning his Gem of Wisdom series into the Gems of Wisdom blog, Mr Bismark has opened that channel to everyone.















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