Warren Buffett is one of the richest men in the world and is self-made billionaire investor. In his lectures to the business students he most of the time says – “I could improve your ultimate financial welfare by giving you a ticket with only 20 slots in it so that you have 20 chances to 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.”If you have limited chances then you make your choices very wisely and carefully.
You take careful and calculative steps and you’d do so much better.In simple words, you have to very selective about your investments. You can earn more than in investing in 20 things than in 100 things. But it should be very calculated, thoroughly researched and very selective.
Focusing on simple things can make you very successful. How can we use this rule in our life to maximize our results and make things simple?1- If you are really interested in mastering any skill then do it, don’t ignore it and distract yourself from it. Commit to one area and specialize it. Running from one field to other will leave with you nothing.
2- Be selective about your decisions in your life. And never regret it after making decisions. Don’t choose anything out of your interest and just by looking at your friends. 3- Commit to your work.
Success is a long process; it will come with time and with proper planning. Do your works so good and silently, let your success speaks loudly. 4- You won’t get more chances; you have to be very significant and focused. Time will pass and if you won’t do it correctly then you won’t get anything. 5- Learn from your previous mistakes.
If your 1st slot was not successful don’t worry you have 19 more. But you should not repeat the same mistake, don’t choose the things that make you unsuccessful.6- Keep things simple. Do the things that you are comfortable with. Keep things simple and understandable. 7- Don’t afraid to be unique.
People may not like your ideas but maybe your ideas are very different and best. Don’t doubt yourself and do not take decisions based on what others say. 8- Don’t settle for less than expected and never stop working for more. Invest and earn more.9- Listen to the ideas of others as well; maybe they have better ideas than yours. But it’s totally up to you to follow it or not.
Don’t make decisions based on others opinions.10- Be smart, careful and always believe in yourself.