Going For It…
 
Hello dear reader & welcome to my world again this week.

I read an article recently on Warren Buffett. Apparently, when he lectures at business schools, he says, “I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so you have 20 punches ~ representing all the investments for you to make in a lifetime. And once you have punched through the card, there would be no further investments to make at all.”

He says, “Under those rules, one would really think carefully about what you did & be forced to load up on what we really thought about. So essentially I would one assume, we all do so much better.”

To Warren it seems perfectly obvious. But this is one of the very few business classes in the U.S. where anybody will be saying so. It just is not the conventional wisdom.

On reading the article, it appeared obvious the winner has to bet very selectively. I am not sure therefore why it is not obvious to very many other people.

Warren Buffett's “20-Slot” rule is not just useful for financial investments, it is a sound approach for time investments as well. In particular, what struck me about this strategy was the idea of “forcing yourself to load up” & go all in on an investment involving our personal commitment.

The key point is this:
Your odds of success improve when you are forced to direct all of your energy & attention to fewer tasks. And, perhaps this is why some organisations no longer train people to become capable of many skills. Alternatively, the less skills people obtain, the more control one has? Perhaps…

If you take a look around, you will notice very few people actually go “all in” on a single skill or goal for an extended period of time.

Rather than researching carefully & pouring themselves into a goal for a year or two, most people “dip their toes in the water” & chase a new diet, a new university degree, a new exercise routine, a new side business idea, or a new career path for a few weeks or months before jumping onto the next new thing.

In my experience, so few people display the persistence to practice one thing for an extended period of time so you can actually become very good in many areas ~ maybe even world-class, with just one year of focused work. If you view your life as a 20-slot punch-card & each slot is a period of focused work for a year or two, then you can see how you can enjoy significant returns on your invested time simply by going all in on a few things.

My point here is, everyone is holding a “life punch-card” &, if we are considering how many things we can master in a lifetime, there are not many slots on the card. You only get so many punches during your time on this little planet. Unlike financial investments, your 20 “life slots” are going to get punched whether you like it or not. The time will pass either way.

So, may I suggest one does not waste your next slot? Think carefully, make a decision, & go all in. Do not just kind of go for it. Go all in. Your final results are merely a reflection of your prior commitment.  [1]
 
Thank you for taking the time to be with me once again. I hope my journey may encourage you also. This is Kenn Butler in Paradise, Nelson. With my best wishes for another week… I look forward to being with you all again soon.
 
 
 
 
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