Warren Buffett Shares His Most Essential Advice For Generation Y


Warren Buffett assumed the role of mentor to the youth yesterday when he gave networking and career advice in an "Office Hours" session with Levo League, a site aimed to assist youngsters in making their dreams come true.

The Berkshire Hathaway CEO shared personal stories about his fear of public speaking, and notably told women to "stop holding yourself" back.

Here's 9 points Buffett highlighted as some of the most important steps to follow on the path to success:

1. Find your passion.

2. Be careful who you admire.

3. Learn how to communicate effectively.

While getting his MBA from Columbia University, Buffett revealed that he was "terrified of public speaking," causing him to withdraw from a Dale Carnegie class. But after graduating he saw the ad for the course again and decided to give himself a second chance.

4. Develop healthy habits by studying people.

5. Learn how to say "no."

6. Don't work for someone who won't pay you fairly.

7. Become involved with growing businesses.

8. Learn everything you can about your industry.

Buffett says he reads for six hours every day because he believes that growing your intellectual capacity will help you solve problems more effectively.

9. Young women should seek mentors.

At the end of the interview, Buffett reminded everyone to keep getting up after all falls because "you are healthy, and bright and have decades ahead of you."