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Warren Buffett Revealing His Secret To Becoming Wealthy And Successful

Warren Buffett Revealing His Secret To Becoming Wealthy And Successful

Lots of people aspire to do plenty of things at the same time, from getting a well-paid job, to traveling around the world, becoming an amateur singer, and having their own a cafe, etc.; but the sad truth is, those who want to achieve a lot of things end up achieving nothing.

Why is that?

The ones who succeed, are those who have ONE very clear goal:

I want to change the world with technology. Period.

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I want to be a world-class actor. Period.

I want to improve the lives of children in developing countries. Period.

Our brains become paralyzed when we multitask.

Science supports this.

In one experiment people were shown images of letters and numbers at the same time.[1] One group was instructed what to focus on while anothe r group was not. When the group was told to focus on numbers, they would be asked if the digits were even or odd. When they were told to focus on letters, they need to answer if they were vowels or consonants.

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It turned out the group with focus performed much better. The group with no focus was simply distracted too much and had a hard time making the judgment and decision easily.

Too many life goals = no goal at all

The same applies to our life goals.

The fewer goals we have, the better we can direct our energy and attention to them, and the closer we get to success. To become an expert of anything, we need to be selective with our time and wisely spend the time on what matters most.

Yet when we have too many goals, we don’t know what to pay attention to and things will get messed up easily.

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If you aren’t sure how to invest your time and energy wisely to achieve success, let’s take Warren Buffett’s advice.

Warren Buffett’s ‘20-Slot Rule’ teaches us the smartest investment for life.

When Warren Buffett lectured in a business school, his advice for ultimate financial welfare was to assume you only have 20 slots. That means you can only have 20 investments in your whole life.

When you know the number is limited, would you rather invest in each slot independently, or make your investment in the slots benefiting each other? Obviously, it would be a lot more worth it to accumulate the investments which can benefit the upcoming ones.

This doesn’t apply to only financial investments, but your life goals too.

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Imagine having only 20 must-do items for your life, what’d they be?

Try to think about the 20 most important things you want to achieve in life, and review if each of them are interrelated (at least in some way). If not, what should be removed? What should be kept? And what should be added back instead?

When you’ve fixed your 20 most important slots, you’ll be much clearer about what you want and how much to invest in them. This approach is effective in helping you to eliminate goals that are seemingly great but indeed are bad for your future.

Don’t be greedy. Remember, the more focused you are, the more successful you’ll become.

Reference

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Chloe Chong

Chloe is a social media expert and shares lifestyle tips on Lifehack.

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Last Updated on January 21, 2020

What Is Creativity? We All Have It, and Need It

What Is Creativity? We All Have It, and Need It

Do you think of yourself as a creative person? Do you play the drums or do watercolor paintings? Perhaps compose songs or direct plays? Can you even relate to any of these so called ‘creative’ experiences? Growing up, did you ever have that ‘artistic’ sibling or friend who excelled in drawing, playing instruments or literature? And you maybe wondered why you can’t even compose a birthday card greeting–or that drawing stick figures is the furthest you’ll ever get to drawing a family portrait. Many people have this common assumption that creativity is an inborn talent; only a special group of people are inherently creative, and everyone else just unfortunately does not have that special ability. You either have that creative flair or instinct, or you don’t. But, this is far from the truth! So what is creativity?

Can I Be Creative?

The fact is, that everyone has an innate creative ability. Despite what most people may think, creativity is a skill that everyone can learn and hone on. It’s a skill with huge leverage that allows you to generate enormous amounts of value from relatively little input. How is that so? You’ll have to start by expanding your definition of creativity. Ironically, you have to be creative and ‘think out of the box’ with the definition! Creativity at its heart, is being able to see things in a way that others cannot. It’s a skill that helps you find new perspectives to create new possibilities and solutions to different problems. So, if you encounter different challenges and problems that need solving on a regular basis, then creativity is an invaluable skill to have.Let’s say, for example, that you work in sales. Having creativity will help you to look for new ways to approach and reach out to potential customers. Or perhaps you’re a teacher. In this role you have to constantly look for new ways to deliver your message and educate your students.

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How Creativity Works

Let me break another misconception about creativity, which is that it’s only used to create completely “new” or “original” things. Again, this is far from the truth. Because nothing is ever completely new or original. Everything, including works of art, doesn’t come from nothing. Everything derives from some sort of inspiration. That means that creativity works by connecting things together in order to derive new meaning or value.From this perspective, you can see a lot of creativity in action. In technology, Apple combines traditional computers with design and aesthetics to create new ways to use digital products. In music, a musician may be inspired by various styles of music, instruments and rhythms to create an entirely new type of song. All of these examples are about connecting different ideas, finding common ground amongst the differences, and creating a completely new idea out of them.

What Really Is Creativity?

Creativity Needs an Intention

Another misconception about the creative process is that you can just be in a general “creative” state. Real creativity isn’t about coming up with “eureka!” moments for random ideas. Instead, to be truly creative, you need to have a direction. You have to ask yourself this question: “What problem am I trying to solve?” Only by knowing the answer to this question can you start flexing your creativity muscles. Often times, the idea of creativity is associated with the ‘Right’ brain, with intuition and imagination. Hence a lot of focus is placed on the ‘Right’ brain when it comes to creativity. But, to get the most out of creativity, you need to utilize both sides of your brain–Right and Left–which means using the analytical and logical part of your brain, too. This may sound surprising to you, but creativity has a lot to do with problem solving. And, problem solving inherently involves logic and analysis. So instead of throwing out the ‘Left’ brain, full creativity needs them to work in unison. For example, when you’re looking for new ideas, your ‘Left’ brain will guide you to a place of focus, which is based on your objective behind the ideas you’re searching for. The ‘Right’ brain then guides you to gather and explore based on your current focus. And when you decide to try out these new ideas, your ‘Right’ brain will give you novel solutions outside of the ones you already know. Your ‘Left’ brain then helps you evaluate and tune the solutions to work better in practice. So, logic and creativity actually work hand in hand, and not one at the expense of the other.

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Creativity Is a Skill

At the end of the day, creativity is a skill. It’s not some innate or natural born talent that some have over others. What this means is that creativity and innovation can be practiced and improved upon systematically.A skill can be learned and practiced by applying your strongest learning styles. Want to know what your learning style is? Try this test. A skill can be measured and improved through a Feedback Loop, and can be continuously upgraded over time by regular practice. Through regular practice, your creativity goes through different stages of proficiency. This means that you can become more and more creative! If you never thought that creativity was relevant to you, or that you don’t have a knack for being creative… think again! You can use creativity in any aspect of your life. In fact you should use it, as it will allow you to to break through your usual loop, get you out of your comfort zone, and inspire you to grow and try new things. Creativity will definitely give you an edge when you’re trying to solve a problem or come up with new solutions.

Start Connecting the Dots

Excited to start honing your creativity? Here at Lifehack, we’ve got a wealth of knowledge to help you get started. We understand that creativity is a matter of connecting things together in order to derive new meaning or value. So, if you want to learn how to start connecting the dots, check out these tips:

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Featured photo credit: rawpixel via unsplash.com

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