IGNORE Negativity: Warren Buffett's Emotional Stability Secrets in 6 Minutes

Good morning, Believe Nation. My name is Evan Carmichael. My one word is believe, and I believe that entrepreneurs will solve all of the world's problems. Today's message is don't care what others think. Over to you, Warren Buffett.

I wake up every morning, espresso keep me going.

I wake up every morning.

It never bothered me if people disagreed with what I thought, as long as I felt I knew the facts. I mean, there's a whole bunch of things I don't know a thing about. I just stay away from those. So I stay within what I call my circle of competence. Tom Watson said it best. He said, I'm no genius, but I'm smart in spots, and I stay around those spots. Well, I try and stay around those spots. And I just don't have a problem if somebody says you're wrong on something. I go back and look at the facts. And I think that really is much more important, frankly, than having a few points of IQ or having an extra course or two in school or anything of the sort. You need emotional stability.

I really love that last bit that he talked about emotional stability. I think it's really important for entrepreneurs to understand where your threshold is of how much crap you could take from other people, how much negativity, how much feedback and criticism that you could take without it impacting your psyche or your self-worth. I think in general as an entrepreneur you need to be prepared to get a lot of crap, a lot of negativity, a lot of stuff thrown at you. And yes, it's easy to say don't care what other people think, but understanding what your tolerance level is and where you kind of fit on that spectrum can really help you design the rules so that they're in your favor. So as an example, there's a guy on my team who doesn't handle criticism as well. You know, I'm a lot more comfortable in the uncomfortable where he can bounce around a lot more. He'll be on top of the world, like, "This is great," and then a negative feedback comes in and it really impacts him hardly, and then the positive one comes in and he jumps back up. And so for someone like him, you can't design as much risk, as much negativity, or potential negativity, so you gotta take a safe path up. Where for me, I'm more comfortable in the uncomfortable. I know that eventually something's gonna work out. And I know that at the beginning of any project, it's gonna be rough, that it may not work out, that we're gonna get some criticism. And so I'm more willing to jump all in and play in that field, even though it's painful at the moment, because I know the faster I get through that pain, the faster we're gonna come out the other side. I want that feedback and criticism and negativity as soon as possible so that I can make it better. Better for you, better for me, better for everybody. And so understanding what your tolerance level is of emotional stability, how much you can take from your friends and your family and your customers and your audience and the people watching you before you break, and then being able to play just below that limit. Because you can't just play super safe because that's not going to make you happy as an entrepreneur. But knowing where your limit is and playing just below it so that it's uncomfortable, it's painful, but you're still going to be able to get through it, I think is really important, that self-awareness. I think it's really important as an entrepreneur. So the question of the day today is, I'm curious, how high is your tolerance level for taking criticism for other people? How much does it bother you and can you get through it or not? Really curious to find out. Please leave it down in the comments below. I also wanna give a quick shout out to Lethlan Lyon. Lethlan, thank you so much for picking up a copy of my book, Your One Word. I really, really appreciate the support and I hope you're enjoying the read. So thank you guys again for watching. I believe in you. I hope you continue to believe in yourself and whatever your one word is. And I'll see you again tomorrow morning for another shot of Enespresso.

I wake up every morning, espresso keeps me going. If the rest of the people really feel me as a politician, and furthermore, bad politician, then I feel sad. Or cunning, cunning liar politician, then of course no problem, no problem. Some say something good person, some say bad person, that doesn't matter. So long my own motivation for thinking is honest, sincere. That's important. That's simple Buddhist monks. Actually, you see, Buddha, you see, taught Don't care for others saying. If one say too much praise, then at that time should think, oh, I also have the critics. Then one say, is it a lot of criticism, then you should think, oh, some people praising me. So it doesn't matter. Too much, so pay much attention, these things are silly.

How did you ignore all those naysayers and continue to sort of blaze the trail?

Well, 95% 90% of all new ventures fail. So, if you just bet against all new ventures, the odds are 90% that you're going to be right 90% of the time. But you're going to miss that 1 out of 10 or 1 out of 20 chances to really hit a home run. And I wasn't worried about the naysayers saying it wasn't going to work. I just laughed about it because I knew it was.

And you worked very hard at it as well.

I wasn't going to let it fail. And even if you read my book, it's right there. I wasn't going to let it fail. And I'm not going to let humanity fail to get rid of nuclear weapons and handle this energy thing. I'm going to keep fighting until we start getting it right.

Pay a lot of attention to reviews and those kind of things?

You know, you're always affected by opinion, but the more opinions there are of you, of me, the less I look at them because I just can't live my life based upon what other people think about me. So I can't concern myself too much with what other people think, you know, it's just not healthy. I don't think I could continue to do what I do if I was constantly worrying about what somebody thought about it.