Warren Buffett
Published on November 23, 2019
Published on Wealthy Affiliate — a platform for building real online businesses with modern training and AI.
Do You Know the Secret to Warren Buffet's Success?
There is no doubt about it that Warren Buffett has made it big! DO you know his secret? I've been reading up on him lately and discovered the secret to setting goals the Warren Buffett way.
The 5/25 Rule
Warren Buffett explains how to set goals like this.
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- Write out your 25 top goals.
- Narrow the list down to the top 5
- Ignore the rest.
The remaining 20 goals only distract from the top 5 until we achieve them. After that, we start the list again. Those other 20 goals may change or not. Some of them may move to the top 5 while others are no longer valid.
Pareto Principle
Warren Buffett's method for setting goals is an application of the Pareto principle, which states that 20% of our actions accomplishes 80% of our goals or tasks.
I'm working on my list now, and I'll amend or rewrite my goals before my birthday.
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