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4 Comments

Stuck At Decision Making? Use Warren Buffet's Method! ⭐

Raise your hand if you've heard about "Warren Buffet".

warren

Although this post won't help you make rich like him, it will surely make you rich "mentally" just like him haha!

There is a famous mental model that he developed for people to make good investing decisions, which can be extended to our general lives too! So today I thought of sharing it in the hope that you can understand it and use it for your startups.

Circle of Competence

According to this model, people should understand where they are strong mentally and stay within that area of expertise to succeed.

coc

Once you understand where you are strong, you should double down your efforts on becoming subject matter expert. Follow this thought process and you might be surprised with the results.

In order to make it work, here are two things you need to do -

1. Identify the impact

Can't figure out an idea to build or create something? You might wanna try a new approach. Instead of thinking new ideas, focus on identifying what you want to impact. Once you do that, ideas will come to you naturally.

For instance, do you know how I usually come up with new content ideas for the community? I simply choose an area like productivity, growth, etc. and then start thinking about the things that might help you guys. That's how I am able to keep writing new stuff!

2. Recognize your passion

Find out what drives you from inside. Think about what you already know. Can you figure where you might have the highest expertise? You don't need to be an expert right away. You can figure out things as you go along the way.

For me, design and UI/UX was always a place where I had good amount of knowledge. So when I launched Brutask and ruttl, I tried using my experience to my own head advantage.

Well, I guess that's it for today folks!

What do you usually do when you need to make decisions? Any particular tricks that have worked in the past? Share your ideas in the comments down below and help out the community! 👇

Love,
Siddhita ❤️


I've tried explaining this concept in shortest manner possible to make it simple! If you guys are really curious to learn more in depth, I would suggest you to read this article -

https://coffeeandjunk.com/circle-of-competence/

  1. 1

    Great post, loved the Phelps/ El Guerrouj example. I think this post is quite recognizable for a lot of Indiehackers.

    When I created my business, there was (and still is) a lot to learn. There are many topics that I know a bit about, and just a few I truly know. That's sometimes hard to accept, but once accepted might be a superpower.

    Bruce Lee made a cool quote for it:

    “I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.”

    1. 2

      Haha yess I've read this quote too @maevaeverywhere! That's what I love about building businesses. There is just never a time when you've learnt it all!

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