How Does the Richest Person In the World Stay Focused?
"The difficulty lies not in the choice itself, but in making one at all." - Michael Hauge
Warren Buffet is known as an ultra-successful investor. He has been at the top of the Forbes list for many years. So, how does someone with riches like Buffet stay focused?
First, Buffet understands the importance of setting clear goals. He outlines specific objectives and prioritizes them accordingly. This allows him to stay on task and ensure that his energy is focused on activities that will help him achieve his goals.
Second, Buffet relies on discipline and structure to remain committed to his goals. He has a daily routine that helps him focus and stick to his plan. He also sticks to a strict budget, which helps him stay on track with his finances.
Finally, Buffet spends a lot of time reading, learning, and researching. He believes that in order to stay successful, one must stay up-to-date in their field. By taking the time to stay educated, he makes sure his decisions are thoroughly thought through.
Well that sounds all well and good, but what specific tools does he use to actually make this happen? We can look for clues in an answer that Buffet likes to provide when students ask him for life advice.
Welcome to Warren Buffet’s ‘Not Do’ List, the antidote to the ‘To Do List.’
The ‘Not Do’ List is a mental checklist that Buffet uses to avoid unproductive activities and bad habits. He advises people to avoid situations that could lead to distractions and derail progress. This list includes items such as not staying up late and watching too much television, not letting an impulse buy derail savings goals, and not letting competition consume too much mental energy. Additionally, Buffet encourages people to recognize their strengths and weaknesses and prioritize accordingly
Buffet might ask you to write down a list of the top 25 goals you have in life. That can be tough for some people, while others can easily rattle off 25 unique goals. Now - here’s the second step: power-rank them all into an order 1 - 25. That was pretty tough! But here comes the most difficult part:
The goals that you ranked 1-5 become your ‘Do at all costs’ list, whereas the goals you ranked 6 - 25 become your ‘Avoid at all costs’ list. Buffet claims that pursuing goals 6-25 actually distract you from accomplishing goals 1-5, which you yourself have identified as your most highly-prioritized outcomes.
By following his 'Not Do' List, Buffet has been able to remain focused and achieve his goals. He also encourages others to set clear goals and prioritize them in order to remain on track and achieve success.
This counter-intuitive method may have just lead to the largest fortune in history.
Keep reading to learn more about the Leadership Theory.
