Leader in focus: Warren Buffet

What really separates average leaders from the great ones? To get to a leadership position and, more importantly, to stay in one you not only require determination, courage and vision but also some very important skills to help you accomplish the work you are entrusted to complete. In business, it is equally important that you must be flexible and adaptive to constantly changing climates and demands. So is it possible to zero in on what is common between all great leaders? Can we learn from the way they plan, execute and achieve?

To begin with let us consider what is common to all leaders. The answer is pretty simple: People. You absolutely cannot be a leader of any sort unless you work with a team, guide them individually and as a group. But even here there is a clear differentiator between a leader and a great one. Rosalyn Carter sums this up brilliantly when she says: “A leader takes people where they want to go. A great leader takes people where they don't necessarily want to go but where they ought to be.” So it’s not just about dealing with people and keeping them happy but having the courage to believe in your own vision and lead your team into the unknown. To sum this up, you cannot be a leader without people following you and you absolutely cannot be a great leader without taking them to heights they cannot possibly imagine.

Of course, all this seems easy in text and extremely difficult to imagine, let alone achieve. But history tells us otherwise. In every sphere of work great leaders often inspire thoughts and action of people around them and go on to change the course of not just their field of study but also that of the world. In fact it would be impossible (and quite impractical) to list every single leader that has shaped the history of the world to date so for consideration of time let us consider one standout business leader who, over the last few decades, has not just inspired generation after generation of leaders, entrepreneurs and professionals but also managed to stay at the absolute top of his game. The leader in question is American investor and philanthropist, Warren Buffett who is also often referred to as the “Oracle of Omaha” or the “Sage of Omaha”. (Wikipedia, 2007) Buffett is the CEO, and the biggest shareholder of the Berkshire Hathaway Company.

Warren Buffet : the "Sage of Omaha" 

What makes Warren Buffett a good business leader? It simply is not a single trait or ability but the combination of many skills to position himself at exactly the right place at the right time. An ability that is not just rare but also the culmination of years of business experience. To begin with Warren Buffet is an excellent communicator. Today, when Warren Buffet speaks the world listens. Even stand out business leaders like Jeffrey Immelt of GE and Jamie Dimon of JP MorganChase, make numerous ‘pilgrimages’ to Omaha to simply ‘speak with Buffet.’ But it is not just Buffet’s ability to get his message across effectively that makes him stand out; it is also his ability to listen. He will always calmly try to understand argument and then reason his position before taking his time in reaching any sort of decision. And this brings us to another exceptional trait of Buffet- his incredible patience. Buffett once said “Pick the wrong company at the right price and you lose. Pick the right company at the wrong price and you lose. You have to pick the right company at the right price and to do that you have to wait and wait–patiently”. His patience is largely to thank for his financial success, but the principle applies to leadership as well. Jaw-dropping performance and winning teams don’t sprout up in a day. Strong leaders have the patience to persevere through solving conflicts and surviving trials, empowering their team along the way. Similarly, reaching career goals takes both grit and patience.

Another standout ability of Warren Buffet is his incredible eye for talent and the trust he puts in people he hires. He not just gives them tremendous responsibility but also ownership. Instead of micromanaging their every move, he provides them with the freedom to take decisions and risks, only intervening when he sees a crisis. By treating people as equals and on their individual merit, Buffet assures that they have the maximum ability to express themselves where it really matters- in their work.

Is Warren Buffett born a leader? Experience and research has shown little evidence that an individual who comes to power is a “born leader.” Warren Buffett took the falls that any other leader has to take. Warren Buffett learned from his mistakes and turned his mistakes into a positive thing. So it is not just his natural abilities that have propelled him into becoming a successful leader but also his experience, and the learning from it that has helped him achieve greatness.

Finally let us try and understand what we can learn from Warren Buffet. To begin with is to include the traits mentioned above – strong communication, the ability to listen, patience, trust in people or teams, to learn from experience and failure and the determination to succeed. Apart from this we can also learn something from Warren Buffet- the person. Despite being one of the richest men in the world, he is extremely frugal and humble. He is honest and runs his business with utmost integrity. He is not afraid of calling a spade a spade but is the first to stand up and take blame for any failure. This is the true mark of not just a great leader but also an incredible person. 

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