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5 Best Business Lessons From Warren Buffett

OMAHA, Neb. ( MainStreet) -- From Steve Jobs to Warren Buffett, small-business owners can learn a lot from the leaders and innovators in big business.

Buffett, now 81 and entering his 47th year of running Berkshire Hathaway (BRK.A) as chairman and CEO, has had an impressive run.

Listed among the world's wealthiest people, Buffett (and right-hand man Charlie Munger) have transformed Berkshire Hathaway from a textiles business into an umbrella conglomerate owning dozens of companies spanning the property and casualty insurance sector, reinsurance, utilities, energy, freight rail transportation, finance, manufacturing, retailing and services.

Warren Buffett, in his 47th year of running Berkshire Hathaway, has become a role model for entrepreneurs.

Buffett has amassed stakes in many large corporations, including long-term ownership in Coca-Cola (KO - Get Report).

He is admired by many, including many readers who told us are plenty of business lessons to be learned from Buffett.

"Being a good leader means to be able to have people follow towards a goal. He is doing that," says Josh Denton, president of Denton Consulting Group in Duluth, Minn.

We spoke with several leadership and management experts to get a sense of some of Buffett's attributes that could be followed by small-business owners.

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