Buffett has been consistent and disciplined in following his own advice, and this is also true with regard to all of the principles that Buffett reveals.
Learning has no meaning if it can't be practically applied, as far as business goes. Along with that practicality comes the discipline to follow your own advice; something that Buffett was an expert at.
Stop and think of that for a second. Because most business leaders must in one form or another be a teacher or coach along the way, that always comes with the opportunity to teach - but not live - what you teach.
This is a problem because it can not only send mixed signals to your people, but it can also con you into believing you're doing what you say because you understand it so well. It can make you believe because you teach it that you're implementing it.
What Buffett has to offer us here is a reminder to continually measure yourself to ensure that what you truly believe and teach others - both verbally and by example - is also being lived and practiced by you in the company.
There's nothing worse than seeing a business leader tell others how to do something that they aren't willing to pick up and do themselves. It's not only disheartening to workers, they know that deep down you really don't believe it if you don't live it.
It's a way to measure yourself also. If you really don't do what you say, ask yourself if it's something the company should follow. What's the reason you won't do what you ask others to do? I'm not talking about doing everyone's job here, I'm talking about the way you even came up in the company.
Word, rumors, legends; they're bantered around the company in connection with anybody rising in leadership. Most the time they will either be true or based upon something true.
There is nothing more powerful in business than living what you truly believe and letting your people observe your actions that back it up.
Everything that Buffett believes in he does and practices, and the leaders across Berkshire Hathaway (BRK) do the same.
Other Buffett Resources:
Warren Buffett: The trouble with being a legend
Warren Buffett: 'I told you so'
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