Startup

Warren Buffett’s #1 success tip: Choose your circle wisely

Published

2 weeks ago

October 24, 2024

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Warren Buffett, one of the most successful investors of all time, is known for his straightforward wisdom on building wealth and achieving long-term success. But amid all his financial strategies, there’s one critical decision he believes can make or break your success—not just in business, but in life. It’s not about what stocks you pick or how much money you save; it’s about something much deeper.

According to Buffett, the single most important choice you make on your path to success is who you surround yourself with. The people in your life can either inspire and uplift you or pull you down. In this article, we’ll explore why this decision matters so much and how you can apply Buffett’s advice to accelerate your personal and professional growth.

Why the company you keep matters the most

1. The power of association: Who you surround yourself with matters

Warren Buffett has often emphasised the importance of the people you choose to spend your time with. In one of his famous quotes, he said, “You will move in the direction of the people that you associate with. So it’s important to associate with people that are better than yourself.” This simple but profound advice stems from the idea that humans are social beings who are influenced by those around them.

When you surround yourself with positive, intelligent, and driven individuals, their energy and mindset can propel you toward success. Conversely, if you’re constantly surrounded by negative or complacent people, it can be easy to adopt their attitudes and behaviours. The people you spend time with shape your mindset, work ethic, and even your approach to challenges.

2. Relationships and success: The ripple effect

The relationships you cultivate in your personal and professional life have a ripple effect on your success. Strong relationships can open doors, create opportunities, and offer invaluable support. Buffett’s own life is a testament to this idea. His long-term business partnership with Charlie Munger is often credited as one of the key factors behind his enduring success.

Munger, known for his sharp thinking and ability to challenge Buffett’s ideas, has provided a sounding board and helped guide key decisions for decades. This partnership shows the importance of having people who are not only smart but who can constructively challenge your thinking.

In your own life, whether you’re an entrepreneur, a professional, or simply someone striving for personal growth, seek out individuals who inspire you to do better. Choose friends, mentors, and business partners who challenge your perspectives and help you see things differently. These relationships can significantly impact your trajectory.

3. The influence of environment: Growth through exposure

The people you surround yourself with don’t just influence your mindset; they also determine the kind of environment you live and work in. A growth-oriented environment fosters continuous learning and improvement. When you are surrounded by people who push boundaries, set higher standards, and continually strive for excellence, you’re more likely to adopt the same habits.

Warren Buffett’s own life serves as an example. While he was always a self-motivated individual, he also credits much of his growth to the learning opportunities and mentors he had along the way, including his early association with Benjamin Graham, the father of value investing.

To create your own growth-oriented environment, look for communities, networks, or workspaces where excellence is the norm. Whether it’s a mastermind group, a professional network, or simply a circle of like-minded friends, this environment will encourage you to think bigger and push beyond your limits.

Avoiding toxic relationships: The silent success killer

Just as important as choosing the right people to surround yourself with is avoiding the wrong ones. Toxic personal or professional relationships can drain your energy, lower your self-esteem, and create unnecessary stress. Warren Buffett is known for his disciplined approach to life, which also extends to his relationships. He advises steering clear of people who are dishonest, manipulative, or have a negative outlook on life.

These toxic relationships can act as an anchor, holding you back from realising your potential. The time and energy spent managing difficult relationships could instead be used to invest in yourself or build productive partnerships.

How to choose the right people for your circle

The decision of who to surround yourself with is not just about avoiding toxic people or seeking out successful ones. It’s about finding people who align with your values and long-term vision. Here are a few tips inspired by Warren Buffett’s philosophy:

Look for character

Buffett often says that character is more important than intelligence or skill. People who are honest, hardworking, and reliable will always contribute positively to your life.

Find growth-minded individuals

Surround yourself with people who are always learning and growing. These individuals will motivate you to keep improving yourself.

Seek diversity in perspectives

You don’t want a circle that always agrees with you. Choose people who challenge your thinking and offer new perspectives.

Build mutually beneficial relationships

The best relationships are those where both parties learn and grow together. Be sure to invest in people who also invest in you.

As difficult as it may be, letting go of relationships that no longer serve you is crucial for growth. Whether it’s an unhealthy friendship, a draining work environment, or even an unsupportive family member, it’s essential to prioritise your well-being and success. Warren Buffett stresses that life is too short to spend it with people who do not bring out the best in you. Surround yourself with those who lift you up and let go of those who drag you down.

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Startup

BrowserStack launches AI-driven Low Code Automation tool

Published

55 mins ago

November 7, 2024

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Software testing platform BrowserStack has rolled out Low Code Automation, a solution to simplify test automation for quality assurance teams, developers, and non-technical users.

The newly launched solution will address challenges faced by software teams, including manual testing delays and complex automation frameworks, BrowserStack said in a statement.

While traditional test automation requires coding expertise by often limiting non-technical testers to contribute, this tool allows user—irrespective of their technical background—to create and manage AI-driven automated tests without writing code. Users can also use BrowserStack’s cloud infrastructure for reliable test execution.

“(The AI-powered Low-Code Automation (LCA) simplifies the process of building and maintaining test automation suites compared to traditional tools like Selenium. It reduces the steep learning curve and complexity often associated with automation projects, leading to a quicker return on investment (ROI),” Chintan Doshi, Director of Product Management at BrowserStack, told YourStory.

To support development teams worldwide, Low Code Automation speeds up testing cycles, boosts product quality, and enhances user experience by reducing technical barriers.

“Citizen testers—such as business analysts, product managers, and customer support teams—can easily add validations and create automated tests with the test recorder, without requiring coding skills. This reduces their dependency on developers and QAs and empowers them to actively contribute to testing efforts,” Doshi explained.

Founded in 2011 by Ritesh Arora and Nakul Aggarwal, BrowserStack provides a cloud-based platform for developers to test websites and mobile apps across devices, operating systems, and browsers on demand.

With headquarters in San Francisco and Mumbai, the company has expanded its product line to include over 15 products, of which 10 were launched in the past 18 months.

In August, the Accel-backed firm acquired Berlin-based Bird Eats Bug, an advanced bug-reporting tool. The acquisition aims to address the existing gaps in bug reporting and streamline fragmented testing workflows.

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Startup

Flipkart’s delivery arm Instakart reports widening losses, lower revenue in FY24

Published

2 hours ago

November 7, 2024

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Flipkart’s delivery service arm Instakart’s FY24 losses increased multifold to Rs 1718.4 crore, from Rs 324.6 crore in the previous year, hurt by higher expenses and marginally lower revenues.

The company, which is in the logistics, warehouse, courier and allied services business, clocked an operating revenue of Rs 12,115.3 crore in FY24, 5% lower than Rs 12,787.4 crore it posted a year ago, according to filings made with Toefler.

During the period, the company’s total expenses increased 6% to Rs 14,149.4 crore, mainly driven by employee benefit and other expenses.

Logistics services accounted for the majority (about 78%) of Instakart’s total operating revenues, with Rs 9,429.8 crore, marginally lower than what it collected in the previous year.

Warehousing services, which accounted for about 10% of total operating revenues, witnessed a 28.4% drop in revenue, while collection services, which accounted for 12%, remained stable.

Just a week ago, Flipkart Internet reported a 21% rise in FY24 revenue at Rs 17,907.3 crore helped by rising income from its advertising services.

Flipkart India Ltd, which is Flipkart’s business-to-business (B2B) arm, reported a 26.4% rise in revenue from operations at Rs 70,541.9 crore in FY24.

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Startup

Google Cloud to boost support for early-stage AI startups with new programmes, partnerships

Published

3 hours ago

November 7, 2024

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Google has rolled out a range of programmes and partnerships to accelerate the growth of AI startups In India. The initiatives, announced at an AI Startups Summit in Bengaluru, will support early-stage AI founders in building, scaling, and expanding their customer base through the utilisation of Google Cloud services.

The tech giant recently introduced Emerging ISV Partner Springboard—a 12-week programme designed to fuel growth for AI startups. Participants will benefit from hands-on support in creating go-to-market assets, consultations with Google AI experts for product refinement, guidance on technical architecture best practices, and streamlined onboarding to Google Cloud Marketplace.

“Google is committed to empowering AI startups to drive innovation and growth. These initiatives demonstrate our dedication to providing critical support and resources to early-stage founders, helping them build and scale successful AI-powered businesses,” said Manish Gupta, Senior Director, Research, Google DeepMind.

During a fireside chat at the Global Google Cloud Summit, Google Cloud CEO Thomas Kurian applauded startups leveraging AI and cloud technology.

“At Google Cloud, our mission is to support these pioneers by providing the essential tools, resources, and mentorship they need to thrive. Through strategic partnerships, tailored programs, and advanced infrastructure, we are committed to enabling businesses to scale their impact and drive the next wave of digital transformation,” said Kurian.

Early-stage founders will receive enhanced support through the Google for Startups Cloud Program, which will offer $200,000 in Google Cloud credits over two years. AI-based startups will receive even greater support, receiving $350,000 in credits to address the demanding computational needs of advanced AI development, the company said in a statement.

In addition, Google has collaborated with Y Combinator to provide exclusive access to NVIDIA H100 GPUs and Google Cloud TPUs, along with cloud credits, support, and mentorship for its Summer 2024 group of AI-focused startups.

Furthermore, the tech giant is also joining forces with early-stage accelerators and incubators such as 500, StartX, and Berkeley Skydeck to provide early-stage founders with a special package, including Google Cloud credits, expert advice, and technical workshops

Earlier, the California-headquartered firm also announced the launch of Startup School: GenAI, a four-week training programme designed to help startups leverage AI.

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