How to choose your priorities like Warren Buffett #23
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The following is an excerpt from The Round Up, a somewhat frequent newsletter that I send out.
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Today we are going to be talking about:
- Goal Setting Advice from Warren Buffet
- A content creation strategy from Charli Marie
How to prioritize your life from Warren Buffet
Warren Buffet is the found and co-owner of berkshire hathaway, a hedgefund that is known of some incredibly reliable long-term growth.
Warren buffet gave this advice to Mike Flint:
Step 1
Write down your goals. These can be long term career goals, or your priority list for the week.
Step 2
Review the list and circle your top 5 goals.
Step 3
At this point you should have two lists: List A is your top 5 and List B are the 20 other items you didn’t circle.
What should you do with these lists?
Flint confirmed that he would start working on his top 5 goals right away. And that’s when Buffett asked him about the second list, “And what about the ones you didn’t circle?”
Flint replied, “Well, the top 5 are my primary focus, but the other 20 come in a close second. They are still important so I’ll work on those intermittently as I see fit. They are not as urgent, but I still plan to give them a dedicated effort.
To which Buffett replied, “No. You’ve got it wrong, Mike. Everything you didn’t circle just became your Avoid-At-All-Cost list. No matter what, these things get no attention from you until you’ve succeeded with your top 5.
One for me – One for them
A common problem creators have is balancing the work they do for themselves vs the work they do for clients. Many creators work started as a hobby – something they enjoyed. When I say “creator” I am also talking about photographers, artists and anyone else that does creative work.
I first heard the idea of “One for me – One for them” from Charli Marie, who is the creative director at Convertkit, the email platform that is bringing you this email right now.
The basic idea is that you create one piece of work for yourself. Then one for your fans or peers.
Often when getting into creative work you’ll be told that you need to “just create for yourself”. The idea is that you attract people that are similar to yourself. But sometimes you don’t always have that luxury. It’s necessary for professional artists and creators to create work that they’re not entirely passionate about. At the same time it’s important that they don’t fall out of love with their craft. And this is where the one for me – one for them strategy is a cool idea.