SYS-CON MEDIA Authors: Kevin Benedict, Gilad Parann-Nissany

Blog Feed Post

The Odds You’ll be as Successful as Warren Buffett

Warren Buffett's March Madness

9.2 quintillion to 1.

Yea, you were TOTALLY going to win.

Millions of people filled out an NCAA Tournament bracket in the ultra-slim hope of being perfect and winning $1 billion. After only two days of hoops, everyone was busted. One guy in Illinois actually was perfect — until Dayton came along.

Thus, Warren Buffett, the master of risk management and mad scientist behind the contest, wins again.

(Check out ESPN Rick Reilly’s entertaining day inside Buffett’s office.)

Buffett, 83, built his fortune — estimated at $53 billion — because he knows how to give himself the best odds. He makes smart investments (GEICO, Fruit of the Loom), stays ahead of the curve and gives as much as he gets.

So pick yourself up, concede the billion-dollar loss and observe how Buffett’s success can translate to your own. But let’s a have a little fun with it, shall we?

Winning the Game of Life

Cartoon via insider_monkey on Flickr

At this moment, pretend your odds of a wildly successful career stand at:

5,000 to 1

Each time you act like Warren Buffett — based on the tips below — your odds will improve. You in? Cool.

Just for agreeing to better yourself (a huge first step), your prospects have brightened.

3,500 to 1

Like Buffett, you should meticulously review all opportunities. Some will be duds, others may open doors. For instance, if a person hands you a business card, you must send a follow-up email (like this) and leave no stone unturned.

Then, you better your odds to…

2,000 to 1

Buffett loves to invest in the US economy and, essentially, the Millennials who will one day take the helm.

To make sure he’s right, discover the skills you need and learn them. The more you can do = higher chance you get hired or promoted (#1 on this pivotal career list).

Acquire in-demand job skills and your odds change again…

1,600 to 1

If you humble yourself and ask a person you respect, “Can you help me get better?”…then the calculation moves a bit more…

1,000 to 1

In one of Buffett’s annual letters to shareholders, he said:

“America has had no shortage of challenges. Without fail, however, we’ve overcome them.” 

If you, like Buffett, view a challenge as an opportunity in disguise — and use it as motivation — then you know what happens…

750 to 1

The billionaire investor says thanks by giving generously to charity. When’s the last time you wrote someone a thank-you note, either on email or with paper and pen?

Make thank-you notes part of your routine and…

300 to 1

Buffett once said he would give up his private jet before he would lose Web access. Translation: you don’t need fancy things to do great stuff. The low-cost Internet will do just fine.

What are you passionate about? All you need: desire, energy and commitment.

For your efforts, the odds improve again…

100 to 1

Finally, Buffett knows you need to fail before you can succeed. So take chances, get your hands dirty and figure out what you’re made of. Then you hit age 30 with a few boxes checked off.

That’s how you reach…

5 to 1

5 to 1 odds? That’s a bet even Warren Buffet would make.

(This content was originally posted at News to Live By.)

Read the original blog entry...

More Stories By Shelly Palmer

Shelly Palmer is the host of NBC Universal’s Live Digital with Shelly Palmer, a weekly half-hour television show about living and working in a digital world. He is Fox 5′s (WNYW-TV New York) Tech Expert and the host of United Stations Radio Network’s, MediaBytes, a daily syndicated radio report that features insightful commentary and a unique insiders take on the biggest stories in technology, media, and entertainment.