20 SLOT RULE

*** This isn't as depressing at it looks, read below ***

This is a quick visual I made to represent an article I recently read and found to be quite interesting. The post is about a piece of advice Warren Buffet gave to students at USC Business School.

His advice is simple, “I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you had 20 punches — representing all the investments that you got to make in a lifetime. And once you’d punched through the card, you couldn’t make any more investments at all.”

You can apply the rule to more than just financial investments, but time investments as well. If you think of it in this regard it really becomes about the importance of selective focus.

The following excerpts are from a post written by James Clear.

"Your odds of success improve when you are forced to direct all of your energy and attention to fewer tasks."

"If you want to master a skill — truly master it — you have to be selective with your time. You have to ruthlessly trim away good ideas to make room for great ones. You have to focus on a few essential tasks and ignore the distractions. If you view your life as a 20-slot punchcard and 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."

"Don’t waste your next slot. Think carefully, make a decision, and go all in. Don’t just kind of go for it. Go all in. Your final results are merely a reflection of your prior commitment."

Full article here:
https://medium.com/the-mission/warren-buffetts-20-slot-rule-how-to-simplify-your-life-and-maximize-your-results-760e7109ffe8