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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 May 7, 2021

Productivity Boost: How to start your day at 5:00 AM

Productivity Boost: How to start your day at 5:00 AM

I have been an early-riser for over a year now. Monday through Friday I wake up at 5:00 AM without hitting the snooze button even once. I never take naps and rarely feel tired throughout the day. The following is my advice on how to start your day (everyday) at 5:00 AM.The idea of waking up early and starting the day at or before the sunrise is the desire of many people. Many highly successful people attribute their success, at least in part, to rising early. Early-risers have more productive mornings, get more done, and report less stress on average than “late-risers.” However, for the unaccustomed, the task of waking up at 5:00 AM can seem extremely daunting. This article will present five tips about how to physically wake up at 5:00 AM and how to get yourself mentally ready to have a productive day.

Many people simply “can’t” get up early because they are stuck in a routine. Whether this is getting to bed unnecessarily late, snoozing repetitively, or waiting until the absolute last possible moment before getting out of bed, “sleeping in” can easily consume your entire morning. The following tips will let you break the “sleeping in” routine.

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Relocate your alarm clock.

Having an alarm clock too close to your bed is the number one reason people simply cannot get up in the morning. If your alarm clock is within arms reach of your bed, or if you can turn your alarm clock off without getting out of bed, you are creating an unnecessarily difficult situation for yourself. Before I became an early-riser, there were many times that I would turn off my alarm without even waking up enough to remember turning it off. I recommend moving your alarm clock far enough away from your bed that you have to get completely out of bed to turn it off. I keep my alarm clock in the bathroom. This may not be possible for all living arrangements, however, I use my cellphone as an alarm clock and putting it in the bathroom makes perfect sense. In order to turn off my alarm I have to get completely out of bed, and since going to the restroom and taking a shower are the first two things I do everyday, keeping the alarm clock in the bathroom streamlines the start of my morning.

Scrap the snooze.

The snooze feature on all modern alarm clocks serves absolutely no constructive purpose. Don’t even try the “it helps me slowly wake up” lie. I recommend buying an alarm that does not have a snooze button. If you can’t find an alarm without a snooze button, never read the instructions so you will never know how long your snooze button lasts. Not knowing whether it waits 10 minutes or 60 minutes should be enough of a deterrent to get you to stop using it.

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Change up your buzzer

If you use the same buzzer day in and day out, you begin to develop a tolerance to the sound. The alarm clock will slowly become less effective at waking you up over time. Most newer alarm clocks will let you set a different buzzer tone for the different days of the week. If you change your buzzer frequently, you will have an easier time waking up.

Make a puzzle

If you absolutely cannot wake up without repetitive snoozing, try making a puzzle for yourself. It doesn’t take rocket science to understand that the longer your alarm is going off, the more awake you will become. Try making your alarm very difficult to turn off by putting it under the sink, putting it under the bed, or better yet, by forcing yourself to complete a puzzle to turn it off. Try putting your alarm into a combination-locked box and make yourself put in the combination in order to turn off the alarm — it’s annoying, but extremely effective!

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Get into a routine

Getting up at 5:00 AM is much easier if you are doing it Monday through Friday rather than sporadically during the week. I recommend setting an alarm once that repeats everyday. Also, going to bed at about the same time every night is an important factor to having a productive morning. Learn how much sleep you need to get in order to not feel exhausted the following day. Some people can get by on 4-6 hours while most need 7-8.

Have a reason

Make sure you have a specific reason to get up in the morning. Getting up at 5:00 AM just for the heck of it is a lot more difficult than if you are getting up early to plan your day, pay bills, go for a jog, get an early start on work, etc. I recommend finding something you want to do for yourself in the morning. It will be a lot easier to get up if you are guaranteed to do something fun for yourself — compare this to going on vacation. You probably have no problem waking up very early on vacation or during holidays. My goal every morning is to bring that excitement to the day by doing something fun for myself.

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As I previously mentioned, I have been using these tips for a very long time. Joining the world of early-risers has been a great decision. I feel less stressed, I get more done, and I feel happier than I did when I was a late-riser. If you follow these tips you can become an early-riser, too. Do you have any tips that I didn’t mention? What works best for you? Let us know in the comments.

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