Bill Gates and Warren Buffett have been friends for over three decades, and have shared valuable tips with each other. One lesson Gates learned from Buffett was the importance of clearing up a busy schedule in order to be happier and more productive. Gates admitted that during his years as CEO of Microsoft, he had every minute of his schedule packed, making him a difficult boss who would send requests to employees at 2 a.m. However, after seeing Buffett’s intentionally light calendar, Gates realized that success did not require filling every second of his schedule.
Buffett’s approach of working smarter, not harder, has been backed by science. A 2014 Stanford University study found that workers’ proficiency declines steeply when they work more than 50 hours per week, and those working up to 70 hours get the same amount of work done as those working 55 hours. Research suggests that people tend to be happiest when they can keep busy without becoming over-stressed. The optimum amount of daily free time on a person’s schedule is up to 9.5 hours, according to a 2021 study, which can result in lower stress levels and long-term health benefits.
It took Gates years to find a healthy work-life balance, as he admitted in a commencement speech at Northern Arizona University. He used to believe in working without vacations or weekends, but has since learned the importance of nurturing relationships, celebrating successes, and taking breaks when needed. Gates advised the audience not to wait as long as he did to learn this lesson, emphasizing the importance of taking time for oneself and being considerate of others’ needs.
Gates and Buffett’s friendship has been characterized by mentorship and mutual learning. Gates shared that he could have learned the lesson of a more balanced schedule sooner had he paid closer attention to Buffett’s approach. Buffett, on the other hand, emphasized the value of time, noting that it cannot be purchased. The two billionaires have exchanged insights over the years, each bringing their own perspectives on success and happiness.
In the competitive world of business, the idea of taking time for oneself and maintaining a healthy work-life balance can sometimes be overlooked. However, the lessons shared by Gates and Buffett highlight the importance of prioritizing personal well-being and relationships. By setting aside discretionary time and working smarter rather than harder, individuals can improve their productivity and overall happiness. It may not always be easy to find this balance, but the long-term benefits are significant.
Ultimately, the wisdom shared by Gates and Buffett serves as a reminder to individuals to take care of themselves and those around them. Success is not solely measured by productivity and long hours worked, but also by the ability to enjoy life, nurture relationships, and find fulfillment in personal pursuits. By learning from the experiences of these two successful entrepreneurs, individuals can strive for a more balanced and fulfilling approach to work and life.
