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5 Things Warren Buffett Does After Work

These simple extracurricular activities keep the famous investor on his “A” game.

Alp Mimaroglu

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When the Oracle of Omaha talks, people make pilgrimages. In fact, thousands of Berkshire Hathaway shareholders flock to the tiny town of Omaha, Nebraska each year to hear him talk about investing.

Of course, if any business leader can command that level of devotion, it’s Mr. Buffett. He has practically doubled or tripled his net worth in every decade of his life, and is now worth $67 billion. A single share of his company’s stock? Try $191,396. That’s enough to buy a house in any one of the 50 states.

Related: Why Warren Buffett Doesn’t Worry

Teach us your ways, Warren!

There are countless books on how Buffett accumulated his wealth (Amazon has almost 20 pages of results under his name). The number of articles about him on sites like The Motley Fool, The Wall Street Journal, and Business Insider is probably somewhere in the thousands.

But there aren’t that many articles on what he does in his spare time after work.

This isn’t surprising. In our current culture of competitive workaholics who regularly work late hours, Buffett’s office schedule is more valuable to readers than his home hobbies. But his famous Zen attitude towards managing, investing and making billions can be largely attributed to his enviable work-life balance.

Here are 5 things Warren Buffett does each day that we could all learn from:

1. Read 500 pages

Once, when asked how to get smarter, the Oracle held up a stack of papers and said, “read 500 pages like this every day. That’s how knowledge builds up, like compound interest.”

Buffett estimates that he spends 80 percent of his waking day reading at work (financial statements, journals, reports) and at home (newspapers and books). Some of us don’t read that many pages each year.

“I do more reading and thinking, and make less impulse decisions than most people in business.”

Makes sense; the better read you are, the more informed you are, the less impulsive you are.

2. Exercise a little

Warren-Buffett-drinking-coca-cola

Buffett once said that his secret to staying young is to “eat like a six-year-old.” This includes drinking up to five Cokes a day. “I’m one-quarter Coca-Cola,” he admitted. (Considering he owns $16 billion in Coca-Cola stock, that’s not too far from the truth.) Keep in mind that the 85-year-old also likes to eat hamburgers, steaks, hash browns and root beer floats.

In 2007 (at the age of 77), he revealed that his doctor had given him a simple choice: “Either you eat better or you exercise.” Buffett chose exercise, “the lesser of two evils.” The simple life change must have worked. After beating prostate cancer in 2015, he still looks happy and healthy.

3. Be grateful, not wasteful

Following in the footsteps of his hero, Chuck Feeney (who secretly gave away his entire fortune), Buffett is one of the world’s biggest philanthropists. His Giving Pledge also boasts dozens of billionaire signees, including Bill Gates, who have committed half their net worth to charitable causes. Buffett has pledged to give away 99 percent of his fortune during his lifetime.

Related: Billionaire Buffett’s 2-List Success Recipe

“If you’re in the luckiest 1 percent of humanity, you owe it to the rest of humanity to think about the other 99 percent.”

He is also famously frugal, so it all works out. Not only does Mr. Buffett live in the same house he bought in 1958 for $31,500 (ironically, it costs significantly more to live next to him). He also likes to treat investors who visit him in Omaha to McDonald’s for lunch.

4. Play a game that requires patience

Warren-Buffett-playing-bridge

Like Chuck Feeney, Buffett has admitted that he manages his ever-growing fortune like he’s playing a game. This isn’t surprising. He enjoys games, and regularly plays financial “mind games” to help him better see patterns in his investments.

He also likes to stay sharp by playing Bridge (which, like Monopoly, takes a notoriously long time to finish). In fact, Buffett likes Bridge so much that he can sometimes be found in an Omaha strip mall, paying $7 to play against retirees.

Related: 9 Things Rich People Do Differently Every Day

“It’s got to be the best intellectual exercise out there,” he claims. “You’re seeing new situations every ten minutes…Bridge is about weighing gain/loss ratios. You’re doing calculations all the time.”

5. Have a hobby that’s just for fun

For Wall Street analysts who often work 100+ hours a week, something as mundane as a “hobby” is inevitably put on the back burner. But Warren likes his hobbies. If you can believe it, he’s a pretty good ukulele player and even writes his own songs. There are YouTube videos of him singing about Coca Cola and playing duets with Bon Jovi.

In fact, there’s probably no better way to end this post than with a video of Mr. Buffett playing ukulele duet for charity with Jon Bon Jovi. If one of the world’s richest men can afford to be this silly once in a while, we can, too.

This article was originally posted here on Entrepreneur.com.

Alp Mimaroglu specialises in marketing automation, demand generation, analytics and marketing technology. He has extensive experience with both business and consumer marketing. Mimaroglu is passionate about how technology is rapidly becoming the key to success in both the corporate sales and marketing landscapes.

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Constance Prince Maurice – For Unspoiled Luxury Between Lake And Lagoon

Romantic hideaway, stunning architectural design, luxurious setting; choose from one of the 64 Junior suites, 12 Family suites, 12 Villas or the lavish Princely Villa at Constance Prince Maurice. Unplug and recharge in a 5* luxury hideaway surrounded by an abundance of nature. Blissfully peaceful, its elegance is matched only by our discreet, intuitive service. Experience our passion for wine in the most extensive wine cellar in the Indian Ocean. A place to open your heart and let the everyday slip away.

Constance Hotels & Resorts

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Constance Prince Maurice

Constance Prince Maurice enjoys an idyllic location on the north-east coast of Mauritius. It is 15 minutes from the airport by helicopter and 35 km from the capital Port Louis. Constance Prince Maurice is situated on 60 hectares of private land which is completely unspoilt, sheltered from the prevailing winds and ensuring maximum privacy for its guests. Its tropical gardens consist of rare and luxuriant vegetation and the calm turquoise lagoon blends perfectly with the fresh green hinterland and the secluded beaches of brilliant white sand. A natural fish reserve situated in the western part of the hotel adds to the uniqueness and natural beauty of the location.

Designed by architectural mastermind Jean Marc Eynaud and designer David Edwards, Constance Prince Maurice is where style, space and architectural designs create the perfect hotel lifestyle. Peaceful by day, the hotel is amidst lush tropical greenery. Our infinity pool and natural reserves add to the décor by instilling a sense of tranquillity.

Picturesque at night, the structure of the hotel is enhanced by warm lights positioned to harmonise with the environment. Lounge in an intimate and secluded setting, pamper yourself at the U Spa by Constance and Sisley and feast on exceptional cuisine created by our chefs from around the world.

Related: Immerse Yourself In Purposeful Reading This Holiday Season

Families can choose our beach villas and complimentary Constance kids clubs while golf pros can retreat to our two 18-hole championship golf courses.

Inspired by Feng Shui principles to create the perfect sense of harmony, all beds stand high above floor level to help the circulation of Qi. In the first hall of the Archipel restaurant, internal concrete columns are at the centre of the hall so as to increase the concentration of energy in the centre.

Highlights of your stay

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  • Taste one of our 25,000 wine bottles in the Indian Ocean’s largest wine cellar.
  • Enjoy a fine dinner in a floating bar and restaurant… a Mauritius exclusive.
  • Gaze at the underwater waterfall illusion from a helicopter.
  • Experience kite surfing with friends and family

The Constance Hotels and Resorts Group owns and manages a number of luxurious island destinations in the Indian Ocean, made up of 5-star Resorts: Constance Belle Mare Plage (Mauritius), Constance Ephelia (Seychelles), Constance Moofushi (Maldives), Constance Tsarabanjina (Madagascar) and 5-star deluxe Hotels: Constance Prince Maurice (Mauritius), Constance Lemuria (Seychelles) and Constance Halaveli (Maldives).

Distinctive elements for these hotels and resorts include magnificent locations with some of the most beautiful beaches in the world; distinctive architecture and design; warm hospitality; completely personalised guest experiences; gastronomic excellence matched by internationally recognised sommeliers; Constance Kids Clubs at all hotels and resorts; complete wellness and rejuvenation with U Spa by Constance; and some of the most beautiful natural diving locations in the world (PADI and CMAS are available at all hotels). Constance Belle Mare Plage, Constance Prince Maurice and Constance

Related: Turn Your Holiday Into A Luxury Affair

Lemuria Seychelles on Praslin all have 18-hole championship golf courses.

Contact us now for your island destination holiday in some of the most idyllic spots in the world.

Central Reservations: Tel: +230 402 3636

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Work Life Balance

10 Tips On Fatherhood And Entrepreneurship

Rowan Leibbrandt, Owner of premium drinks company, Truman & Orange (which has brought us Bannermans Scotch Whisky and Mazzatti Italian Beers to name the two most relevant to most dads), told us how he balances being a Superdad with giving his growing business all he’s got!

Rowan Leibbrandt

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The weird nature of this type of thing – starting a business, starting a family – is that by definition you’re always a novice: Everyone does it for the first time, everyone needs to work it out for himself. Ironically, if you’re good at both, it will be really, really hard.  Typically, things you’re good at are easy, but this seems to work the other way around: Being a successful entrepreneur and the kind of dad your kids crane their necks to find in the crowd when they’re playing sport, requires enormous, consistent, thoughtful effort.

From a certain perspective, things are clearly more challenging for today’s aspiring entrepreneur. The modern world has a complexity that dads of previous eras didn’t have to grapple with. Noah, in launching his nautical cruise business, never had to catch the red eye to Jerusalem. Marco Polo never battled with cell phone reception while on his way to meet customers. To be sure they had other challenges, but they were somewhat linear. Today, the future Steve Jobs has to wrestle with something far more mercurial and slippery: Time.

Sprinkle in the contemporary demand for a man to balance the needs of fatherhood with his career, and you have the built-in tension which, simply put, some rise to and other don’t.

Related: How To Start A Business With No Money

I’m not quite sure how I’m fairing

There are some days where we land some achievement at work and I get home and one of my sons wants to sit on my lap and tell me about his day. On those days I try to remember to fist pump and tell myself what super-human man I am. Other days I leave for an early flight before anyone else is awake and forget I was meant to take one of the boys to swimming lessons that afternoon. In any event, here are the lessons I’m learning. (I suggest starting from the top and mastering each level before moving onto the next until you gradually become the Dad-entrepreneur Jedi that I know lurks inside you.)

OK, here goes:

  1. Never ever have kids at the same time as starting a new business (oops!)
  2. If you break rule one, try very, very hard to learn your lesson and not do it again (dammit!)
  3. If you’re still reading you’re not doing very well, are you? I suggest you take a really deep breath, suck it up and get on with it. (Seriously, this is actually the most important rule – the rest are details, really.)
  4. Don’t bother reading Elon Musk’s book because you heard he had 5 kids and built a tech empire and thought, “Mmm he sounds like a guy who might have some answers”. His answer involved a small army of au pairs. Your wife probably won’t let you hire one (remember Tiger Woods?) and let’s face it most of us start up a business with a little less than Ellon-Paypal-Musk.
  5. Try not to travel on Fridays, so you can be home on Saturday mornings. Seriously, this should be obvious, but it took me a while to figure out. And get up early on Saturday to buy coffee and croissants for breakfast. That works well.
  6. Never ever send your wife pictures from a business trip unless where you’re standing is absolutely horrific. She will always assume your business travel is incredibly glamorous and way more fun than staying at home with your amazing kids. War zones, cities after some sort of natural disaster or some sort of heavy industrial setting work well. Never under any circumstances send a pic where there is any trace of blue sky, sunshine or (god forbid) a beach.
  7. Never phone your wife while anyone is laughing in the background. And don’t call her if you can hear female voices either: this will not end well. If there is a hairdryer in the hotel room I sometimes turn it on before I call to drown out any potentially fun-sounding noises that might escape from my un-airconditioned, 1-star, economy hotel in Lagos.
  8. OK, back to kids. (Rule 6, strictly speaking, comes from my “How to avoid pissing your wife off while building a business” list, but I usually include it in all my lists because the costs of getting it wrong permeates the rest of your life so powerfully.) Explain to your kids what it is you do. You’d be amazed how much they understand and how fulfilling it is to have them relate to what you’re trying so hard to do. We have a drinks company and my son, from about 4-years old, has been happily telling everyone he’d rather be a whisky salesman than a doctor. How cool is that? If anyone wants to nominate me for Best Dad 2018, please go ahead.
  9. I’ve left some of the biggies for later as they’re the hardest. Also, if you’ve mastered things so far, you are fast approaching ninja level and Jedi is in sight. This will sound simple, you’ve heard it before and (like the force) you absolutely know it without needing to be told: don’t spend your weekends on your phone, be present. It doesn’t really matter what you do: if my son wants to poke slugs in our garden, then I need to find him just the right stick and not be distracted by my phone.
  10. Buy them stuff when you’ve been away for a while. Not expensive stuff, but random, unique things from far-away places that create excitement when you return, remind them you’re thinking about them all the time, and give you an opportunity to talk about where you’ve been. (By the way I’m referring to gifts for the kids. Gifts for your wife operate on an entirely different set of principles, refer to rules 1-4 of my other list if you want some guidance as to what to buy her. Please don’t confuse the two. Please, just don’t.)

Related: 20 South African Side-Hustles You Can Start This Weekend

And finally, learn how to deal with feeling guilty. This is hard and there will be times when you fail to be the best dad and entrepreneur you can be. In fact, this will happen often. But remember the guilt is there because you’re trying so hard at both not because you aren’t. Use it to remind yourself what is important and help you think harder about how to do the best at both these amazing jobs you’re fortunate enough to have.


Win This Father’s Day

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Win with Truman & Orange!

To enter, email the answer to the following question with the header: “Entrepreneur Magazine competition”.

Name the whisky and the beer distributed by Truman & Orange. 

Email your answer, together with your name and cell number to bannermans@trumanandorange.co.za to stand a chance to win a bottle of Bannerman’s Finest Scotch Whisky and a bottle of each of the Mazzatti Birra Superiore range (Don’t forget to put “Entrepreneur Magazine competition” in the subject line).

Find out more on the Truman & Orange range here.

Ts and Cs are as follows:

  • Prizes are not transferable or redeemable for cash and the judge’s decision is final
  • Winners will be notified by email
  • No persons under the age of 18 may enter the competition.

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Work Life Balance

Avoid Burnout With These Small Changes To The Way You Work

Follow these five tips to work smarter, not harder.

Lisa Promise

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Workplace burnout is real. I know, because I’ve been there, and I know most others have as well at some point or another. Thrive Global’s Arianna Huffington is no different. She’s on a mission to fix what she deems a “culture of burnout,” after her own collapse from exhaustion in 2007.

Huffington rightly says: “When we take care of ourselves, we are more effective, we are more creative and we are more successful in a broad definition of the word.”

Medical News Bulletin recently published “Can Positive Psychology Traits Prevent Burnout?,” referencing a study where participants completed a survey about the balance of the effort versus reward from a job. This particular research was focused on the manufacturing industry in China, given the “monotonous and repetitive nature of their work,” but this can be said for many professions and sectors. It was found that hope, self-efficacy, resilience and optimism can help to manage work stress, and people with these qualities are less likely to become burnt out.

Related: (Video) Avoid Burn Out

There have been many studies published over the years that working less results in higher productivity (hint: the optimal number is less than 40 hours per week). Perhaps even more important is that it’s nearly impossible to stay focused for long stretches at a time. Some research suggests that you should be breaking as frequently as every hour.

Work smarter not harder

In line with that, I believe in working smarter, not harder. While there are 24 hours in a day, they weren’t all made for work. I’m in the camp that working eight hours nonstop is actually more unproductive than it is beneficial. Your brain has peak operating times, and what works for one may not work for another.

Some people are at their best in the mornings, while others are most efficient late at night. I firmly believe that dictating what hours you should work and when is not the best method to yield quality work.

I often get asked how I can get things done. I work from home, and some have the perspective that I have no one to hold me accountable throughout the day. Inquiring minds wonder everything from what my daily schedule looks like, to how I motivate myself to finish up a project or prospect for my next client.

Related: Even If You Work Hard And Love What You Do, You’re Still At Risk Of Burning Out

tim-ferrissLet me start by saying that I strongly value flexibility. It’s the reason why working for myself is the best fit for me. But I hold myself accountable, and there’s a certain amount of self-discipline involved in doing that. Everything I do is because I’ve set goals for myself.

I have a duty to uphold to my clients and my partners, and a commitment to myself about the success of my business. I also pride myself in the underrated aspect of efficiency. It’s not how long you do something for, but how well you do it.

Several books I’ve read over the years on this topic have stuck with me. Getting Things Done, by David Allen, addresses the two-minute rule. If you can do something in two minutes or less, do it now. Don’t make a note and come back to it later. The time you spend thinking about it, planning it and recording it is more than the time it actually takes to complete the task.

Tim Ferriss’s 4-Hour Work Week covers the topic of efficiency as well. He’s a prime example of taking the phrase “Work smarter, not harder” to a whole new level. To be successful, it doesn’t necessarily mean you need to work more, only that you need to work more efficiently.

Based on experience, I’ve adopted these top five tips to do just that:

Free up your mind

There is no need to remember everything. You read that right. Why are you keeping everything in your mind, which only serves to bog you down and make you feel overwhelmed? Find a record-keeping system that works for you.

Related: Admin Hacks For Entrepreneurs

Some people prefer old-fashioned paper notes. I prefer electronic. With a Mac laptop and an iPhone, I use Notes and Reminders apps to store everything I need to do or think about. I schedule reminder times to make sure I’ve checked something off my list. No matter what device I’m on, I know it’s available to me.

Schedule

Plus, I schedule everything on my calendar – my morning activities to start my day, hours allocated for every client and even things like time to take a walk. But again, I’m flexible. I move things around as needed, but I know I have set time to focus on a task at hand.

Plan and bucket

Some projects seem daunting from the start, but they need to be done whether you want to or not. Oftentimes the hardest part of a project is starting it.

Create a plan and break it down into manageable chunks. If you can complete a portion each day, not only will your mind stay sharp, but that focus will also help to make the task more bearable. As the saying goes, Rome wasn’t built in a day.

Follow the 80/20 rule

I’m a longtime follower of the 80/20 rule, also known as the Pareto Principle: 80 percent of results come from 20 percent of the work.

Why are you spending time on things that take 80 percent of your resources but deliver 20 percent of the value?

Stop doing meaningless tasks, or outsource them if they must be done. Prioritisation is one of the most important keys to efficiency.

Take breaks

It might seem counter intuitive that you can get more done by working less, but the human mind was not created to work non-stop. As research suggests, breaks are beneficial. Go for a walk, have lunch away from your desk, read a book, catch up with a friend or colleague – I promise you’ll feel refreshed and ready to reengage.

Related: Is Working Too Hard Destroying Your Business?

The 40-hour workweek is so synonymous with the American culture that it’s unlikely to change in the corporate world anytime soon. Most of us know that 40 hours isn’t really 40 hours anyway, it’s “whatever it takes.” That being said, with influencers like Huffington working to educate companies on the detriments of overwork, there’s hope.

There’s nothing wrong with working hard – it’s to be admired and valued. But don’t work long hours only for the sake of it. The companies that are getting it right realise that face time isn’t everything.

The results you deliver, the reputation you hold and the relationships you build should always outweigh the hours of your workweek. As an entrepreneur, you can take advantage of this and you can evangelise this approach to others. Work smarter, not harder, and you’ll be better for it.

This article was originally posted here on Entrepreneur.com.

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