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Warren Buffett Says Most People End up Being Average Because They Don’t Keep This List

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Warren Buffett Says Most People End up Being Average Because They Don’t Keep This List

Sitting down and setting your life goals can be exciting and motivating. It gives us purpose, sets clear intention, makes us feel productive and creates the feeling of moving forward.

But have you ever started out making a mental or physical list of your goals only to end up with quite a few? Then when you start acting on them, they either end up cast aside or only half achieved? Having goals has been drummed into us from an early age but are having all these goals actually hindering us?

Warren Buffett, one of the most successful businessmen in the world today, questions the need for having so many goals. Instead he puts his success down to eliminating, sometimes important goals, in order to focus on the few that will bring the success we desire.

Warren Buffett asked his pilot to list 25 priorities in his life

To illustrate Buffett’s idea, there’s a great story involving his personal airplane pilot of 10 years, Mike Flint, and how Buffett helped him to focus and prioritize his goals using a 2-list strategy.

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Buffett asked Flint to carefully think about, and write down his 25 top career goals. Once Flint spent time doing this he came back and presented them to Buffett. He then asked Flint to pick out the top 5 most important goals.

So at this point Flint now had two separate lists – the list of 5 goals and the list of 20 remaining goals.

Like many of us, Flint concluded that he would focus primarily on his top 5 and work towards the other 20 as and when he could find the time.

However, Buffett stopped him and said that this is actually the path of becoming unsuccessful because really he should now throw away his list of 20 altogether – no matter how important many of them may be – and focus solely on the top 5.

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Why? Because that list of 20 is essentially a distraction.

Average people don’t know they should AVOID seemingly important things in their lives

The reason we often never succeed with our goals is because we don’t prioritize, focus and therefore, complete, the important few.

It’s human to get demotivated and distracted – two feelings that can be the death of our goals. The bigger the list of goals we have, the more chance there is to give up and move on to the next one in the hope that this one will succeed.

If what Malcolm Gladwell claims is true, to become an expert in any field we must spend 10,000 hours of deliberate practice towards gaining knowledge in that area. That equates to 20 hours each week for almost a year, for a total of 10 years.

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So imagine Flints original list of 25 goals – that would mean it would take him 250 years to fully master his complete list. You can see how having too many goals can lead you down the path to a less successful and fulfilling life.

Make sure you keep the “Avoid-at-all-cost list”

Minimizing has become a hot topic when it comes to living the best life we can and this also applies to our life goals. Like our physical stuff, it can be hard to make a decision to throw certain goals out of the window when they feel important to us. But the process itself allows us to work out our priorities and what’s truly important.

Try writing out 25 goals – whether it’s long term goals or even short term weekly or monthly goals – and start the process of prioritising in order to discover your top 5.

Now, instead of literally throwing the list of 20 away completely, label this your avoid-at-all-costs list to serve as a reminder of what not to focus on. This is the list that will decrease your time and focus and ultimately your success. In other words, if you start working on this list you are in danger of having 20 half-finished goals instead of 5 completed ones.

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Whatever your top 5 goals are, whether you want to learn a new language or skill, or work towards a particular career goal, make a conscious effort to stick to these. Keep motivated to achieve these goals and don’t wander onto your second list. Remember, your time investment is key to success and this time will be compromised the more goals you take on.

Get the success you want: prioritize efficiently, focus intently and stick to it.

Featured photo credit: Fortune Live Media via flickr.com

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Jenny Marchal

A passionate writer who loves sharing about positive psychology.

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Last Updated on October 21, 2021

How to Create Your Own Ritual to Conquer Time Wasters and Laziness

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How to Create Your Own Ritual to Conquer Time Wasters and Laziness

Life is wasted in the in-between times. The time between when your alarm first rings and when you finally decide to get out of bed. The time between when you sit at your desk and when productive work begins. The time between making a decision and doing something about it.

Slowly, your day is whittled away from all the unused in-between moments. Eventually, time wasters, laziness, and procrastination get the better of you.

The solution to reclaim these lost middle moments is by creating rituals. Every culture on earth uses rituals to transfer information and encode behaviors that are deemed important. Personal rituals can help you build a better pattern for handling everything from how you wake up to how you work.

Unfortunately, when most people see rituals, they see pointless superstitions. Indeed, many rituals are based on a primitive understanding of the world. But by building personal rituals, you get to encode the behaviors you feel are important and cut out the wasted middle moments.

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Program Your Own Algorithms

Another way of viewing rituals is by seeing them as computer algorithms. An algorithm is a set of instructions that is repeated to get a result.

Some algorithms are highly efficient, sorting or searching millions of pieces of data in a few seconds. Other algorithms are bulky and awkward, taking hours to do the same task.

By forming rituals, you are building algorithms for your behavior. Take the delayed and painful pattern of waking up, debating whether to sleep in for another two minutes, hitting the snooze button, repeat until almost late for work. This could be reprogrammed to get out of bed immediately, without debating your decision.

How to Form a Ritual

I’ve set up personal rituals for myself for handling e-mail, waking up each morning, writing articles, and reading books. Far from making me inflexible, these rituals give me a useful default pattern that works best 99% of the time. Whenever my current ritual won’t work, I’m always free to stop using it.

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Forming a ritual isn’t too difficult, and the same principles for changing habits apply:

  1. Write out your sequence of behavior. I suggest starting with a simple ritual of only 3-4 steps maximum. Wait until you’ve established a ritual before you try to add new steps.
  2. Commit to following your ritual for thirty days. This step will take the idea and condition it into your nervous system as a habit.
  3. Define a clear trigger. When does your ritual start? A ritual to wake up is easy—the sound of your alarm clock will work. As for what triggers you to go to the gym, read a book or answer e-mail—you’ll have to decide.
  4. Tweak the Pattern. Your algorithm probably won’t be perfectly efficient the first time. Making a few tweaks after the first 30-day trial can make your ritual more useful.

Ways to Use a Ritual

Based on the above ideas, here are some ways you could implement your own rituals:

1. Waking Up

Set up a morning ritual for when you wake up and the next few things you do immediately afterward. To combat the grogginess after immediately waking up, my solution is to do a few pushups right after getting out of bed. After that, I sneak in ninety minutes of reading before getting ready for morning classes.

2. Web Usage

How often do you answer e-mail, look at Google Reader, or check Facebook each day? I found by taking all my daily internet needs and compressing them into one, highly-efficient ritual, I was able to cut off 75% of my web time without losing any communication.

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3. Reading

How much time do you get to read books? If your library isn’t as large as you’d like, you might want to consider the rituals you use for reading. Programming a few steps to trigger yourself to read instead of watching television or during a break in your day can chew through dozens of books each year.

4. Friendliness

Rituals can also help with communication. Set up a ritual of starting a conversation when you have opportunities to meet people.

5. Working

One of the hardest barriers when overcoming procrastination is building up a concentrated flow. Building those steps into a ritual can allow you to quickly start working or continue working after an interruption.

6. Going to the gym

If exercising is a struggle, encoding a ritual can remove a lot of the difficulty. Set up a quick ritual for going to exercise right after work or when you wake up.

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7. Exercise

Even within your workouts, you can have rituals. Spacing the time between runs or reps with a certain number of breaths can remove the guesswork. Forming a ritual of doing certain exercises in a particular order can save time.

8. Sleeping

Form a calming ritual in the last 30-60 minutes of your day before you go to bed. This will help slow yourself down and make falling asleep much easier. Especially if you plan to get up full of energy in the morning, it will help if you remove insomnia.

8. Weekly Reviews

The weekly review is a big part of the GTD system. By making a simple ritual checklist for my weekly review, I can get the most out of this exercise in less time. Originally, I did holistic reviews where I wrote my thoughts on the week and progress as a whole. Now, I narrow my focus toward specific plans, ideas, and measurements.

Final Thoughts

We all want to be productive. But time wasters, procrastination, and laziness sometimes get the better of us. If you’re facing such difficulties, don’t be afraid to make use of these rituals to help you conquer them.

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More Tips to Conquer Time Wasters and Procrastination

 

Featured photo credit: RODOLFO BARRETO via unsplash.com

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