Skip to main content

Buffett’s Three-Step Rule of Focus for Success

To set you on the right course, take a coaching lesson from Buffett himself. He once walked his personal pilot through a life-changing exercise in goal-setting that's since become popular in productivity and career circles. It's a simple, three-step process to set boundaries, say no to distractions, and home in on success. It goes like this:

1. Write down a list of your top 25 career goals.

2. Circle the five most important goals that truly speak to you. These are your most urgent goals.
Now here's the real kicker.

3. Completely eliminate the other 20 goals you have listed. Just cross them off, despite if they hold weight or some level of importance.

Buffett says those 20 goals are lower and not urgent priorities, therefore, any effort invested in them steals away dedicated focus and energy from your five highest-priority goals.
The point is to say no to everything on that list except for what you have declared, in your heart-of-hearts, to be the five most important things. These are what you should put all your effort and focus into achieving. The rest are merely distractions that will get in the way of your reaching your ultimate success.

As seen in Inc and written by Marcel Schwantes is the founder and chief human officer of Leadership From the Core.

Comments

Popular posts from this blog

Harvard's Endowment commits to a target investment range into real estate between 10% to 17% for 2016

Years ago, before the downturn I was paying very close attention to the investing allocation of my Alma Maters Endowments Investing Strategy HMC (Harvard Management Company), especially in the area of real estate.  I believe that not only was Harvard a great place to understand the importance of investment allocation strategies before the downturn but even more so since the downturn. In fact, investors who are looking to enhance the performance of their investment portfolios probably won’t find a better investment model than the one used by the $37.6 billion endowment for Harvard University. The entity in charge of managing the endowment, Harvard Management Company (HMC), has accrued an impressive investment track record across its 41-year history. As of fiscal year 2015, the endowment had produced an average annual return of 12.2% – 290 basis points higher than the average 9.3% return of a typical U.S. 60/40 stock and bond portfolio. The methodology behind HMC’s success i...

Real Estate Analysis

Just a little while ago myself and my patriarch sat down with another family and began discussing real estate and our strategy.  As the family office really didn't understand real estate, they started to ask questions on how we looked at deals and evaluated opportunities. Thinking back I think that a lot of the questions came from the fact that they created their wealth in the LBO market and thus understood the different nuances of businesses.  Now many families created their wealth from a business but this particular family was involved in 39 different industries, thus I believe their frame of reference was a little different. Our family office created their wealth in real estate and one big part of that has to do with the degree of analytics that is used in our office.  In fact, I have been asking for about 10 years why people are not more analytical about real estate decisions.   All too often a family office is approached by rea...

Real Estate - The Bedrock Asset for Family Offices

Global Family Office Report 2015: Largest Family Office Research Study undertaken offers insight into family office investments in real estate  The average family office portfolio allocates approximately 13% to real estate, and there is a home bias in holdings according to The Global Family Office Report 2015, produced by Campden Wealth Research, in partnership with UBS.  The average family office, with assets under management of USD 806 million, invested approximately USD 105 million in real estate activity in 2014, be it in residential or commercial real estate.  Family offices prefer to invest locally or nationally for both commercial and residential property. Since real estate direct investment typically takes place in-house, this may be a reflection of the local knowledge and skill set of the staff. Where investments are made further afield, they are made with the expectations of higher returns, with international or regional investments coming with signi...