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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 December 2, 2020

7 Reasons Why Quitting Facebook Now Is Good for Your Future

7 Reasons Why Quitting Facebook Now Is Good for Your Future

For the past 100 years or so, there have been huge improvements in communication. From letters to phone calls to text messages to video calls to social networks. Following all these improvements, one of the biggest inventions of the 21st century was founded in 2004[1], and it started to spread like wildfire, first in the US and then around the world. Now, quitting Facebook has become nearly unheard of.

There are more than 1 billion monthly active Facebook users. Although initially it aimed to bring all people together for the sake of connecting, the effects of Facebook on masses became a huge debate after it gained so much popularity, with some even suggesting you deactivate your account.

The advantages of social media and its ability to connect us to people around the world are well known. Now, it’s time to dive into the ways Facebook affects your productivity and why you should ultimately consider quitting Facebook.

1. Facebook Allows You to Waste Time

While being on Facebook and scrolling through the news feed, many active users are not aware of the time they actually spend on viewing others’ life events or messaging with Facebook messenger. It has become so addictive that many even feel obliged to like or comment on anything that is shared.

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You might think of the time spent on Facebook as your free time, though you are not aware that you can spend the same time taking care of yourself, learning something new, or doing your daily tasks.

2. It Can Decrease Motivation

By seeing someone else’s continuous posts about the parties they went to or friends they see frequently, you might feel insecure about yourself if your own posts are not as impressive as the ones in your news feed.

However, there is rarely such a thing as going out every day or having amazing vacations every year. Unfortunately, though, we internalize the posts we see and create a picture in our minds of how others are living.

One study found that “participants who used Facebook most often had poorer trait self-esteem, and this was mediated by greater exposure to upward social comparisons on social media”[2].

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Basically, when we see posts depicting lives we consider “better” than ours, our self-esteem takes a hit. As many of us are doing this for hours at a time, you can imagine the toll it’s taking on our mental health. Therefore, if you want to raise your self-esteem, quitting Facebook may be a good idea.

3. You Use Energy on People You Don’t Care About

Look at the number of friends you have on Facebook. How many of them are really good friends? How many of the friend requests you get are real people or your actual acquaintances?

You have to admit that you have people on Facebook who are not related to you and some you barely know, but who still comments on their photos or offer a like now and again. Basically, instead of offering your time and energy to the genuinely rewarding relationships in your life, you’re spending it on people you don’t really care about.

4. Facebook Feeds You Useless Information

It is one thing to read newspapers or magazines in order to get information, but it is an entirely different thing to be faced with false news, trends, and celebrity updates through continuous posts. I bet one of the things that you will not miss after quitting Facebook is the bombardment of information that seems to have no effect on your life whatsoever.

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5. It Damages Your Communication Skills

When is the last time you actually hung out in real life with your friends, relatives, or colleagues? Because of the social media that is supposed to help us communicate, we forget about real communication, and therefore, have difficulties communicating effectively in real life. This negatively affects our relationships at home, work, or in our social circles.

6. You Get Manipulated

One of the biggest problems of Facebook is its influence on people’s creativity. Although it is assumed to be a free social media site, which let’s you to share almost anything you want, you have this tendency to want to get more likes[3].

In order to get more likes, you must work very hard on your shared posts, trying to make it funny, creative, or clever, while you could spend the same time doing something that genuinely improves your creativity. After quitting Facebook, you’ll be amazed at all the creative hobbies you have time to develop.

7. It Takes Over Your Life

The marketing strategy of Facebook is quite clear. Its creators want you to spend as much time as possible on the site. While working on their posts and choosing which pictures to share, many people actually try to be someone else. This often means they end up being isolated from the real world and their true selves.

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It is possible to put the same time and energy toward becoming a better version of yourself instead of faking it. Why not try it by quitting Facebook?

Final Thoughts

There are many reasons to try quitting Facebook. By knowing how it may be impacting your productivity and mental health, you can search for motivation to get off social media and back into your real life.

These points will guide you in seeing what your life would be like if you were to delete your account. Leaving Facebook doesn’t sound so bad after all, does it?

More on How to Quit Social Media

Featured photo credit: Brett Jordan via unsplash.com

Reference

[1] The Guardian: A brief history of Facebook
[2] Psychology of Popular Media Culture: Social comparison, social media, and self-esteem.
[3] Better by Today: Do Facebook ‘Likes’ Mean You’re Liked?

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