Monday, May 9, 2016

Warren Buffett on Time Management

Warren Buffett, the greatest investor of the 20th century, gave a valuable lesson on time management.

One of his staff asked him about productivity and how to he could be more effective. Buffett's advice was as follows:

1. Write out a list of the top 25 things you need to get done.

2. Go through the list and make another list of the top 5 things that need to be done from the list of 25.

After the staff member had made the two lists Buffett asked him to say how he would manage the 2 lists. The man replied, "I will concentrate on the list of 5 and from time to time I will work on the other 20 from the first list".

What would you have said?

I have to confess that as of this morning I would have replied in the same way.

Buffett's response was that you should concentrate wholly on the second list of 5 and treat the first list as a don't touch at any cost list until the list of 5 is complete.

The reason for this was that the other 20 items will distract you from what really needs to be done.

It is a great lesson and I'm going to give it a go.

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Grant aka drkelp

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