Warren Buffett doesn’t follow the rules, but his defiance has certainly paid off. The Warren Buffett leadership style is as risky as it is successful.
As the leader of the world’s 11th largest company, which makes $210 billion each year, there are few people better than Warren Buffett that you could turn to for business advice.
The Berkshire Hathaway owner is one of the best investors of all time. The Warren Buffett leadership style has made him the second richest person in the world, with a total worth of $75.6b. Likewise, his company is worth an additional $423b.
Read on to discover how Buffett grew his empire to be worth such a huge value:
Warren Buffett leadership style: The key doctrines that took Berkshire Hathaway to the top
Buffett owes his success to a number of strong beliefs. While Buffett’s style goes against the norm in some ways, he has reached a level of success that most can only dream of.
Unlike other CEOs, Buffett rarely manages those below him. New Berkshire Hathaway staff are given autonomous status soon after arriving at the company are not forced into meetings or pestered about results, leaving them with more time to manage their businesses.
While most companies refer to their staff collectively, Buffett’s company names specific people within its annual report to investors. This public praise helps to motivate staff to go above and beyond to please.
Admits his mistakes
As a man at the top of the social ladder, Buffett clearly hasn’t done much wrong during his time in business. However, he is always happy to admit when he has made a bad decision. He said that his reluctance to sell his Tesco shares was a mistake, while he also took the blame for the decline of jet rental company NetJets.