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The Billionaire and the Batboy: What Warren Buffett Learned from Eddie Bennett

Warren Buffett, the great investor who is the chairman of Berkshire Hathaway and now the richest person in the world according to Forbes, told a story about a batboy in Berkshire Hathaway’s 2002 annual report.

The batboy was Eddie Bennett, who was 19 years old in 1919. He began his career with the Chicago White Sox, who went to the World Series that year.

The next year, Eddie moved to the Brooklyn Dodgers. He had the Midas touch. They also won their league title that year. Two in a row for Eddie.

But once again, Eddie saw a better opportunity. So he joined the Yankees in 1921. They won their first pennant ever. Eddie knew he was in the right place so he stayed put. The Yankees won five American League titles in the next seven seasons. 

What did this mean to Eddie? He made as much during the World Series as he made all year. So by choosing the right team with whom to associate, he doubled his income.

And he became perhaps the best known batboy in baseball history.

5 lessons Eddie Bennett teaches us

#1 – Sometimes it pays to switch teams.
If you’re with a team that doesn’t look like a bigg winner, and you see a better one, then go for it!

#2 – Don’t have a scarcity mentality.

People who think like this can’t work with others because they don’t think there’s enough to share. Eddie shows us that we may actually make more money BY working with others than we could on our own.

#3 – You don’t have to be the star to be a star.

Eddie became famous in his own right. He’s written about just like Babe Ruth and Lou Gehrig. In fact, he’s the first of that great trio that we’ve blogged about!

#4 – Every job is important.

A supporting role is just as important as the starring role. Eddie knew his place and the importance of what he did. He knew that if he did a good job in his role, other people would thrive in theirs. And he would reap the benefits along with them!

#5 – He had a passion for what he did.
The fans knew it and the players knew it. They respected him for the role that he played. It’s reported that Eddie and Babe Ruth became good friends because they were both at the top of their game.

What Warren Buffett learned from Eddie

In the annual report we referenced earlier, Warren Buffett describes himself as the batboy for Berkshire Hathaway. He turns the heavy-hitting over to the leaders of the businesses in which he invests. He plays a supporting role so they can step up to the plate and hit home runs.

It’s a lesson in management and leadership – give your people the tools they need when they need them and watch them succeed bigg!
 

Speaking of giving your people tools, share Bigg Success with them.
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We thought it only fitting for our bigg quote today to come from Warren Buffett.

“To be a winner, work with winners.”

Otherwise, you risk striking out!

Next time, we’ll discuss tips for spotting your bigg opportunity. Until then, here’s to your bigg success!

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Strategies for Becoming More Confident

By Bigg Success Staff
09-11-08

Life Skills

rise_to_the_top 

The difference between those who are successful and those who succeed bigg is confidence. Elite athletes and those who are peak performers in their career have high self-confidence.

Here are some of the techniques they use to be at the top of their game:

Practice Consistently

The only way to be ready to "step up" is to put in the work. When the game is on the line, the Yankees are always happy to see Derek Jeter at the plate. When the pressure is on, Derek shines. Experience, along with countless hours of practice, allows us to master our craft and perform confidently.

Disregard Doubt

If we focus on what we can do, rather than what we cannot do, we can overcome self-doubt. Where is the benefit of worrying about the unknown? Winners push down feelings of doubt, by focusing what they know they can do to finish the task at hand.

Try Harder

If we label a defeat as a "failure", we are telling ourselves we lack ability and count ourselves out. Confident people never admit to defeat or feel defeated. They just try harder to achieve their goal next time. They look for ways to improve their effort through preparation, concentration, skill execution, or other factors.

Play to Win

When we play not to lose, our focus is negative and reactive. When we play to win, we aren't afraid to take chances and take control.

Manage Emotions

When we face adversity without confidence, we tend to get angry, upset, depressed, or pessimistic. When things don't go our way and we are confident, we don't get emotional, we don't give up, and we find a way to overcome the situation.

Success Breeds Confidence

Bring more success your way, by recalling your past successes. Remember your accomplishments and that feeling of success. Remind yourself that you can do it!

Find Success

Confident people recognize their accomplishments on a consistent basis. They set small achievable goals along with bigg ones. They structure success into their daily lives by setting and accomplishing meaningful, attainable goals.

Success Networks

Confident people reach out for help to get to where they want to be. If you want to learn how to do something, find someone who is successfully doing it and learn from them.

Success Talk

Confident people say the words "I can" and "I will".  Their self talk is never doubting and negative, but rather instructional and motivational.

Look Successful

Act confident to feel confident, even if things aren't going your way. Confident people always stand up straight, walk with a bounce in their step, and keep a smile on their face. Acting confident helps you feel confident which makes you look confident. 

*Improve your self-confidence by identifying your abilities and positive attributes. Complete the Finding Your Self-Confidence worksheet.

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