Warren Buffett’s Greatest Lesson About Meaningful Work
Warren Buffett needs no introduction. People love to study him, or rather his investing philosophies, so that they can learn from them and achieve similar results. Learning from the greatest investor of all time is a prudent strategy.
My interest in Buffett has more to do with him as a person, rather than an investor. While I am unquestionably impressed with him as an investor, I have an even higher regard for him as a person. Becoming a great investor is not easy, but many people achieve tremendous success in the investment world. Granted, they may not realize Buffett’s level of success, but enough to become independently wealthy.
Investing is a skill. With enough time, effort, and determination, most people can master it. Being a good person with strong character, values, and principles is different. Unfortunately, too many people lose themselves in the pursuit of financial success so that once they reach the pinnacle, they no longer know who they are, as we discussed in the article on "faking till you make it." Even worse, some cause irreparable damage in the way they treated people along the way.
Warren Buffett has maintained humility regardless of the highest levels of financial success. Even more admirably, he has shared his wisdom freely with anyone interested in learning from him. One person who benefited tremendously from Warren Buffett's teachings is his son, Peter Buffett. In 2010, Peter Buffett published a book, Life is What You Make It, in which he shared the core values he learned from his father. Below is one of the greatest lessons from Peter's book and Warren Buffett's teachings over the years as it pertains to work.
Peter learned from his father that "work should be demanding and intense…and that it should make us happy." Finding work that you enjoy is essential for your long-term well-being. To discover the work that you enjoy, Peter recommends reflecting on the activities that you have done in the past that you loved so much that you did not see the time go by, activities that never got you bored or impatient.
When looking at his father's long career, Peter observed that Warren Buffett never did his work for the money. Money was the byproduct of his efforts. Had his father focused on the money, Peter believes that the work would have turned into a job, and Warren Buffett would have lost the passion for it.
Warren Buffett has repeatedly expressed his love for what he does. Last year, when he was asked about his work, he said, "I can't buy time, I can't buy love but I can do anything else with money, pretty much. And why do I get up every day and jump out of bed and I'm excited at 88? It's because I love what I do and love the people I do it with."
We can safely assume that Warren Buffett sees his work as a calling. When you have a calling, your fundamental reason for working is not merely financial rewards and advancement. You are working for fulfillment. For a person with a calling, work is one of the most critical functions of life. This type of person would be upset if forced to stop working and is not looking forward to retirement. It is highly unlikely Warren Buffett will ever retire.
When explaining how he views his work at Berkshire Hathaway, Warren Buffett said,
"We get the opportunity to paint our own painting every day, and we love painting that painting. And that painting will never be finished."
What we learn from Warren Buffett is that work filled with meaning and purpose is the ultimate compensation. When employees have the autonomy, when they are trusted to do their work well, when they are not micro-managed, when their skills are valued, when they have the vision to which to aspire, they will not only be satisfied with their work but will "paint their own painting," as Warren Buffett so eloquently put it.