How to learn any skill as fast as possible !

This method from one of Tim Ferrises Keynotes, is basically teaches a formula for learning pretty much any skill at the least amount of time possible.

Here is the basic Method spelled out and expanded:

DiSSS Method:

  1. Deconstruct the thing you want to learn. What are the most important points that might cause you to fail.  For instance you want to learn programming the first possible failure point here would be to get everything installed and ready to go on your PC. Then try to avoid these possible pain points. Maybe there is a complete package you can install to start learning to program right away?
  2. Selection, what are the most critical points you have to understand, the bare bone basics. In most fields and endeavors these fundamental basics are not that hard to learn but are clouded in non-essential information. Use the 80/20 Rule Ask: Which point will give me the basic understanding with the least amount of time? For instance you want to learn to play the guitar, what are the most important chords to be able to play basic songs? The goal here is to select the most critical points without the non-essential fluff and concentrate only on these.
  3. Sequencing Ask: What would happen if I things in the opposite way? Does it always have to go in this sequence? Could I start at the end and work backwards? Try to turn it around. Often we can find significant shortcuts by just asking questions that question the status quo of things.
  4. Simplicity. Start by simplifying things, strip away before you add. Keep it as simple as possible for the beginning.

I am a huge fan to Tim’s work and highly recommend checking out his blog and podcast. And lastly here the link to the Keynote we talked about.

Summary: Getting Things Done by David Allen

Getting Things Done outlines a process called the “5 Stages of MasteringWorkflow”. Here are the key steps:

1. COLLECTING YOUR WORK

Collecting all your work together and getting everything out of your head is the first stage of mastering your workflow. By gathering everything together like this, you don’t need to actively try and remember to do things. Instead you’re collecting it so it can be put into a system that will do the reminding for you.

In a Basket:

The in-basket represents a place where you can collect all of your work and open loops. For example, this could be your email inbox, a physical inbox or apps like Evernote and to-do lists. When collecting your work, it’s important to get everything out of your head and into one of these baskets, even if this means jotting down a note on a piece of paper and physically putting it somewhere.

2. PROCESSING YOUR WORK

Processing your work is all about taking everything in your in-baskets and working out what needs to be done with those items. A lot of people make the mistake of thinking they have to do things straight away when they arrive in their in-basket. Or if they don’t do them straight away, they promise to come back to them later, but fail to organise those things correctly which is when tasks can slip through the cracks. Processing your work and mastering this stage of GTD allows you to prioritise tasks and empty your in-basket (including your inbox) without necessarily having to do any work.

Questions to Ask:
  1. What is It? This is a simple, yet important step. Answer the question, “what is the thing your’e dealing with?” Perhaps it’s an email from HR but what is it actually about? Is it an unimportant update about employee contracts, or is it some boring reminder about health and safety?
  2. Is it Actionable?
    • Yes – If an item is actionable, you must first identify the “project” it’s part of and the “next action” required to move that item towards completion.
    • No – Often, the stuff in your in-basket requires no further action required. In which case, you can do one of the following three things: Trash /Someday /Maybe /Reference
  3. What’s the Next Action?  It’s the next thing you need to do to take that item towards completion. For example, you might have a completion goal to write a blog post, but the very next action might be to simply draft a topic.
    • Simple Rule: If something takes less then two minutes do it then and there 

 

3. ORGANISING YOUR WORK

For all of the non-actionable stuff from above, you can organise these items into one of the following areas:

  • Someday /Maybe
  • Reference. These are the useful things that don’t require any action, but might come in handy later.
  • Trash
  • Projects & Project Plans. A project is literally anything with more than two action steps that need to be completed e.g. planning a trip, buying a new TV or running a marketing meeting. When you identify an actionable item, you should record this on your master projects list which then gets reviewed on a regular basis.
  • Waiting. Keep a track of things you’re waiting for by creating a “Waiting” list. This could be as simple as a tag in your email for messages you are waiting for a reply for. You can also set a reminder on your calendar to follow up with someone at a later date.
  • Calendar. Deferred work that is time sensitive goes on your calendar to be completed at a specific time. GTD stresses the importance of ensuring that your calendar is only used for these time sensitive items and nothing else. This could be things like: call John on Friday (day specific) and attending meetings (time specific).
  • Next Actions. Any deferred work that isn’t time sensitive goes onto your “next actions” list. These are the items you will do when you have some spare time during the day.

 

4. REVIEWING YOUR WORK

Review your “next actions”, “calendar” and “waiting” lists on a regular basis. It’s likely that you’ll refer to your calendar first as this will play a big part in your day. Then during your discretionary time you can review your “next actions” for anything that you can do before your next appointment. Finally you can check up on your “waiting”, “projects” and “someday” lists for anything that you might want to address. You only need to review these last few lists as often as you need to so that you ensure they don’t get too long and unmanageable.

As well as these daily reviews of your lists, it’s important to schedule a “weekly review” in your calendar. During this time you can address all your lists to ensure you’re happy with how everything is organised. Often things can get a bit messy over the course of a few days and the weekly review is a chance to tidy up those lists

 

5. DO THE WORK

Based on your review you will be able to decide what to do. You might have an appointment, or you could address some items on your “next actions” list. When deciding what on this list to tackle first, you can consider the amount of time/energy you have, the context you’re in and it’s priority. Perhaps there’s an item on your list that can only be done when you’re at the computer or on the phone (context). Or maybe there’s something on your list which is going to be more beneficial than others if completed (priority).

 

 

 

Manage Your Day-to-Day, 99U Book Series Summary

BUILDING A ROCK-SOLID ROUTINE
Laying the Groundwork for an Effective Routine by Mark McGuinness Focus on great work before everything else. Do your most meaningful creative work at the beginning of your day, and leave “reactive work”—like responding to e-mail or other messages—for later. Follow the building blocks of a great daily routine:
1) Start with the rhythm of your energy levels. If you work better in the morning, dedicate this time to your most important work.
2) Establish “associative triggers”—such as listening to the same music or arranging your desk in a certain way—that tell your mind it’s time to get down to work.
3) Manage to-do list creep by limiting your to-dos to what you can fit on a post-it note.
4) Capture every commitment that you make somewhere that you’ll see it.
5) Establish hard edges in your day i.e. When do you start and finish your workday?
Harnessing the Power of Frequency by Gretchen Rubin
Commit to working on your project at consistent intervals—ideally every day—to build creative muscle and momentum over time. Frequency makes starting on a task each day easier, keeps ideas fresh, keeps the pressure off and sparks creativity. Making steady progress towards a goal is the best way to sustain productivity. Don’t wait for your mood to be right, show up for work each day regardless of how you feel.
Q&A: Honing Your Creative Practice with Seth Godin
The best way to create a daily routine is to have a practice which means regularly and reliably doing the work in a habitual way. One of the reasons our short-term routines can not align with long-term goals comes down to fear. People fear putting themselves out there and instead practice self-sabotage. They are afraid of being a fraud and don’t position themselves as experts because putting yourself out there opens you up for criticism.
Building Renewal into Your Workday by Tony Schwartz
Move rhythmically between spending and renewing your energy by working in ninety-minute bursts and then taking a break. Make sure you get enough sleep at night. With lower energy it’s easy to prioritise smaller, easier to complete tasks to make it feel like you’re being productive. This is like having a sugar high. Instead, spend the first part of your day working on your most important or difficult task that is going to contribute to your long-term goals.
Making Room for Solitude by Leo Babauta
Make a point of spending some time alone each day. It’s a way to observe unproductive habits and thought processes, and to calm your mind. Doing this allows you to work out what really matters and unlock your creative voice. Block out some time early in the morning when others are asleep or get into the office early. Incorporate some meditation into your day. This allows you to better control your thoughts on not get distracted by them.
 
FINDING FOCUS IN A DISTRACTED WORLD
Scheduling in Time for Creative Thinking by Cal Newport. Block out time for creative thinking or a specific task and defend it. Respect those blocks of time as you would any client meeting. Start with a smaller amount of time if you need to and work up. It’s also a good idea to use a different environment for this creative thinking. I go further into this here.
Banishing Multitaksing from Our Repertoire by Christian Jarrett
Studies show that the only time you can effectively multitask is when you’re doing automatic tasks like walking. For activities that require conscious attention, there’s only task-switching. Kill the background noise; turn off your phone, e-mail, and any apps unrelated to your task. Even the presence of background activity (and temptation) can drain your focus. Even if you’re not using the Internet, because it’s there it requires willpower to ignore it, which reduces our mental power. i.e. Ignoring distractions isn’t enough, we have to remove them. Tackle the projects that require “hard focus” early in your day. Our Willpower to do the hard stuff is the highest in the morning. More about Willpower here.
Q&A: Understanding Our Compulsions with Dan Ariely
Often we make bad decisions unintentionally. For example, most people get into work and check email first thing to make it seem like they’re doing work. Email is so tempting because we can literally push the refresh button and often something exciting will come up. Instead of opening your email first thing, leave it until later. If it’s open and you see an email come in, it’s going to be very hard to ignore. One way of combatting our compulsions is to make progress visible. With email it’s easy because you can see all of the replies. But with problem solving you may be thinking for 30 hours before the idea hits you and it doesn’t feel like progress. Marking progress is a huge motivator for long-term projects. Make your daily achievements visible by saving iterations, posting milestones, or keeping a daily journal.
Learning to Create Amidst Chaos by Erin Rooney Doland
Use positive distractions to help you ignore the negative distractions (e.g. Social media or email). For example, race the clock to see how quickly you can do a task or reward yourself with 3 minutes social media time as a reward for focused work. Practice strengthening your willpower to help you ignore negative distractions. Your concentration levels and the amount of time we can focus for weakens throughout the da. Give your brain a break. Alternate challenging creative work with more “mindless” tasks to give your brain time to rest and refuel.
Tuning In to You by Scott Belsky
These day, when a meeting, movie or lecture comes to an end we immediately check in to social channels to see what’s going on. Take a break from checking your smartphone during transitional moments, and open yourself up to opportunity and serendipity. Take the time to see how you’re feeling, be in the present and chat to someone you don’t know.
TAMING YOUR TOOLS
Making E-mail Matter by Aaron Dignan
The average office worker now spends approximately 28% of their time sorting, responding to and sending email. No matter what kind of work you do, chances are you spend too much time in your Inbox. Keep your long-term goals in view by posting your complex, long-term goals by your workstation to keep them top of mind when prioritising your tasks. Then connect the dots between the emails you receive and the goals you’ve set. Let go of anything that doesn’t advance you towards these goals. Be conscious of your own bandwidth and practice letting go of certain e-mail and social media conversations. There will always be more opportunities than you actually can take on.
Using Social Media Mindfully by Lori Deschene
Be mindful when logging on to social media by clarifying your intention. Being mindful allows you to engage authentically and reduces our dependency on the connection which can otherwise limit our effectiveness and ability to be present. Part of being mindful with social media is using it consciously vs compulsively.
Q&A: Reconsidering Constant Connectivity with Tiffany Shlain
Be sure to take a technology break every now and then (aim for once a week). Make a ritual of unplugging on a regular basis. Turning everything off is like hitting the “reset” button on your mind—it gives you a fresh start. Don’t take technology into the bedroom. Sending emails right before bed or as soon as you wake up isn’t healthy. It doesn’t set you up well for sleep or for your day.
Awakening to Conscious Computing by Linda Stone
“Information overload”? More like “information over consumption”. In most areas of our lives we’ve learned how to filter and select. But in the digital sense, we’re still very inexperienced. It’s time to open up to the idea of conscious computing. Studies have shown that by many people actually hold their breath or breath very shallowly when sitting in front of a screen. This lack of oxygen contributes to many stress related diseases. The body becomes acidic, the kidneys begin to reabsorb sodium and the imbalance of oxygen and carbon dioxide throws off our biochemistry. This all leads to poorer quality focus and decision making.
Reclaiming Our Self-Respect by James Victor
It’s now quite common to be expected to work at home, after hours and eve on vacation. People expect their emails and phone calls to be responded to immediately. This has lead to the problem that we cannot make a distinction between urgent and important. Everything is now urgent. It’s often easier to do the trivial things that are urgent vs. the important and more difficult things. This results in us spending more time on other peoples goals than our own. A healthier  relationship with your devices is to take ownership of your time and invest in your own life. Don’t trust technology over your own instincts and imagination. Doing busywork is easy; doing your best work is hard. You have a choice in where to direct your attention. Choose wisely. The world will wait. And if it’s important, they’ll call back.
SHARPENING YOUR CREATIVE MIND
Creating for You and You Alone by Todd Henry
Most of the time, creatives are asked to produce a creative outcome for a client that is being paid for. Remember that it’s important to take time to create for yourself as well. Block out some time each week to pursue unnecessary creative projects that enhance your skills and allow you to take risks. Without these risks you can’t push your boundaries and hone your skills (which can later be applied to on-demand creating).
Training Your Mind to be Ready for Insight by Scott McDowell
As a beginning it’s easy to think you can beat, pummel and thrash an idea into existence. In reality this isn’t the case. So what do you do when you need to be creative but creativity isn’t coming? The most successful creative minds consistently lay the ground word for ideas to germinate and evolve. They are always refine their personal approach to hijacking the brains neural pathways, developing a tool kit of tricks to spark creativity. Often when working on a tricky problem, often the solution is to become disengaged with the problem. For example going for a walk to take a time out. If you’re always working, you don’t allow time for new ideas to come to fruition. Down time it key for letting this happen. Creating limitations can also be an effective route forward. Whether these come from a client or yourself, they can help give parameters to your creativity.
Q&A: Tricking Your Brain into Creativity with Stefan Sagmeister
This Q& A with Stefan Sagmeister focuses brain hacks that can be used to lead us to aha moments and why it’s important to map creative projects into your daily schedule. The first tip is to start with the difficult tasks first thing in the morning. It’s hard to later refocus and convince yourself to do something hard if you’ve started with the easy things like email. Secondly, your brain naturally wants to think in repetition as it’s easy. This means it’s harder to find new ideas as your brain uses these shortcuts. Try thinking of a problem from a different perspective in order to trick your brain into breaking this repetition and spark creativity. Start with an endpoint that has nothing to do with the project. It’s important to carve out time in your schedule to work on your own. Don’t touch this time, for example, block out Friday’s and if anyone asks for a meeting on Friday at 10am you can suggest an alternative. Be precious and protect these clocks of time.
Letting Go of Perfectionism by Elizabeth Grace Saunders
As a perfectionist, if you achieve the perfect outcome you’re looking for, you feel on top of the world. On the flip side, if you fall even just a little bit short perfect you are crushed. An overemphasis on perfection can lead to an enormous amount of stress which can make you hesitant about taking on new projects, or even worse you abandon creative pursuits due to the physical, mental and emotional stress it brings. Ironically, perfectionism can inhibit your ability to reach your full potential. The trick to overcoming this is to recognise that there’s no perfect time to start a new project instead of waiting for the ideal moment. Instead of sweating over every detail, recognise the amount of time that’s been allocated to a project and the steps involved for completion and evenly divide your time between these steps. At the even bear in mind that you are doing your best with the time given vs. spending an eternity going back trying to improve each element again until perfect. By taking the less-than-perfect approach you’re able to do more and far better work than taking a perfectionist approach that may mean you do nothing at all.
Getting Unstuck by by Mark McGuinness
When you get stuck and are suffering from a creative block, just remember that it happens to the pros all the time and try and think about what’s causing the problem. The most common problems are: 1) Inspiration drought. This can be solved by taking a break for a while and letting your subconscious find the answer. 2) Emotional barriers. Give yourself permission to write, draw or express what you like, without worrying about peoples opinions. Once you have the first draft done you can refine your work. 3) Mixed motivations. Once the deal is done, put all motivations out of your head and focus on nothing but the work. 4) Personal problems. Use your work as refuge and give yourself credit for showing up and doing some work, even if it’s just a small amount. 5) Poverty. Set yourself the creative challenge of doing the most with what you have; whether that’s time, energy or money. 6) Presentation problems. This is where creativity blends with communication. You need to be able to communicate your ideas, so beef up your presentation skills.

Book-of-the-Week Newsletter: Willpower

Willpower by Roy Baumeister Book Summary

The main Take-Aways:

1. Willpower in a finite resource, that gets depleted as you use it. Think of it as a battery. We use up Willpower all the time, but the more demanding a task is the more Willpower it will use up.

2. You recharge Willpower by resting and eating food that is high in Glucose, like fruits.
3. Do the most demanding work when you have the most Willpower, meaning in the morning or after a meal. 
4. Decisions take up a lot of Willpower, before making an important decision make sure that your are recharged.
5. When our Willpower is low there will be bad consequences like: 1. Things are much more frustrating 2. We do things we latter regret 3. We eat bad food 4. We make more mistakes.
The best way to prevent these consequences is by being aware of our low Willpower and making an effort to recharge it.

Future vs Present Time Perspective

There are actually three Time Perspectives; Future, Present and Past Time Perspective.  Lets go through them:

Past Time Perspective = The only time you want to think about the past is to either learn from your mistakes or to think about pleasant experiences. Try to minimize the thinking about the past in a negative way.

Present Time Perspective = Living in the moment is necessary  to get the most out of the moment. You have to be in the moment to create your future.

Future Time Perspective = Absolutely essential for success, the long term thinking and preparation for the future. This is what makes pupils successful in school, only with a Future Time Perspective you can study for hours instead of playing outside. The amount of time you spend preparing for the future is the biggest indicator of how successful someone will be.

 

In short:

  • Minimize thinking negative about the past.
  • Prepare for the future, spend a set amount of time reading, learning and planing for tomorrow.
  • The rest of the time spend in the Now because it’s the only thing we will ever have. Don’t just prepare but execute and go into action.

Goal Stetting to the Now

This Method for setting goals I learned from Gary Keller’s book “The One Thing”. Here is how it works:

 

Someday Goal (What is the One Thing you want to do someday?)

Five-Year Goals (Based on my someday Goal what is the One Thing I can do in the next five years)

One Year Goal (Based on may Five-Year Goal, what is the One Thing I can do this year?)

Monthly Goal (Based on my One Year Goal, what is the One Thing I can do this month)

Weekly Goal (Based on my Monthly Goal, what is the One Thing I can do this week?)

Daily Goal (Based on my Weekly Goal, what is the One Thing I can do today?)

Right Now (Based on my Daily Goal, what is the One Thing I can do right now?)

Use this method together with the Focus Question and you have a powerful tool to choose the most important things to do right now.

Focus Question, Gary Keller

I got this lesson from the book The One Thing by Gary Keller.

Our Focus is at his best when its concentrated on one thing at a time! To find that one thin there is something called a focus question you can use:

 

What is the One Thing I can do such that by doing it everything else will be easier or unnecessary?

 

This Question has two parts, with a special meaning:

  1. Only one thing and something that is doable (“I can do”).
  2. The leverage test, your One Thing must make other things unnecessary

 

Ask this Question for every area of your life on a daily basis (Wealth, Love, Health, Happiness) to choose your main objective for that area. You can also add a time frame such as “right now” or “this year”.

 

I highly recommend reading Gary Keller’s book The One Thing it will change your life. He also has a Website with many great tips on the topic of Time-Management.

 

 

“Invert always Invert” Charlie Munger

I learned this lesson from Charlie Munger’s book Poor Charlies Almanack and I used regularly ever since.

 

It’s quiet straight forward, instead of thinking forwards think backwards. Turn the question around and ask the opposite!

  • For instance instead of asking what you are good at begin by clarifying what your bad at.
  • Instead of asking what your website should look like begin by asking what it  defiantly should not look like and then work from there.
  • Instead of asking what business you want to start ask what business you don’t want to start.
  • Instead of asking what you weaknesses are find out what your biggest  strengths are and build your foundation on them.
  • Instead of asking yourself what you look for in a partner, ask what you absolutely don’t want. …

 

This simple method will help you greatly when there are a lot of options to choose from! You can use it pretty much in every area of life.

 

 

Deep Work by Cal Newport

Here are my Notes on the Book Deep Work by Cal Newport: 

Deep Work = Intense Concentration on One project only.

Deep work is becoming increasingly valuable in our economy at the same time that it also is becoming increasingly rare. This represents a classic market mismatch: If you cultivate this skill, you’ll thrive professionally.

Monastic philosophy
This philosophy attempts to maximize deep efforts by eliminating or radically minimizing shallow obligations.

Bimodal philosophy
This philosophy asks that you divide your time, dedicating some clearly defined stretches to deep pursuits and leaving the rest open to everything else. minimum unit of time for deep work in this philosophy tends to be at least one full day.

That the easiest way to consistently start deep work sessions is to transform them into a simple regular habit.

Call this approach, in which you fit deep work wherever you can into your schedule, the journalist philosophy.

Make Rituals when working Deep:

  • Where you’ll work and for how long. Your ritual needs to specify a location for your deep work efforts.
  • How you’ll work once you start to work. Your ritual needs rules and processes to keep your efforts structured.
  • How you’ll support your work. Your ritual needs to ensure your brain gets the support it needs to keep operating at a high level of depth. For example, the ritual might specify that you start with a cup of good coffee.

Work with others:
When it comes to deep work, in other words, consider the use of collaboration when appropriate, as it can push your results to a new level.

This division between what and how is crucial but is overlooked in the professional world. It’s often straightforward to identify a strategy needed to achieve a goal, the how to do it is much more challenging.

4D`s

  1. Discipline #1: Focus on the Wildly Important
  2. Discipline #2: Act on the Lead Measures
    Once you’ve identified a wildly important goal, you need to measure your success. In 4DX, there are two types of metrics for this purpose: lag measures and lead measures. Lag measures describe the thing you’re ultimately trying to improve. For example, if your goal is to increase customer satisfaction in your bakery, then the relevant lag measure is your customer satisfaction scores. Lead measures, on the other hand, “measure the new behaviors that will drive success on the lag measures.” In the bakery example, a good lead measure might be the number of customers who receive free samples. Lead measure: time spent in a state of deep work dedicated toward your wildly important goal.
  3. Discipline #3: Keep a Compelling Scoreboard. Ben Franklin. I kept track of the hours spent in deep work that week with a simple tally of tick marks in that week’s row.
  4. Discipline #4: Create a Cadence of Accountability. Weekly review in which you make a plan for the workweek ahead.

At the end of the workday, shut down your consideration of work issues until the next morning, shut down work thinking completely.

Why lazy is good:

  1. Reason #1: Downtime Aids Insights
  2. Reason #2: Downtime Helps Recharge the Energy Needed to Work Deeply. Interruptions have a cost on our concentration.
  3. Reason #3: The Work That Evening Downtime Replaces Is Usually Not That Important.

The ability to concentrate intensely is a skill that must be trained.

Once you’re wired for distraction, you crave it.

Instead of scheduling the occasional break from distraction so you can focus, you should instead schedule the occasional break from focus to give in to distraction.

Deadline Technique:
In particular, identify a deep task (that is, something that requires deep work to complete) that’s high on your priority list. Estimate how long you’d normally put aside for an obligation of this type, then give yourself a hard deadline that drastically reduces this time. If possible, commit publicly to the deadline. Tighter Deadlines.

Productive Meditation
The goal of productive meditation is to take a period in which you’re occupied physically but not mentally—walking, showering—and focus your attention on a single well-defined professional problem, depending on your profession.

 

When you notice your attention slipping away from the problem at hand, remind yourself that you can return to that thought later, then redirect your attention back.

  1. I suggest starting with a careful review of the relevant variables for solving the problem and then storing these values in your working memory.
  2. Once the relevant variables are identified, define the specific next-step question you need to answer using these variables.

 

About Social Media/  Entertainment!

The Craftsman Approach to Tool Selection: Identify the core factors that determine success and happiness in your professional and personal life. Adopt a tool only if its positive impacts on these factors substantially outweigh its negative impacts.

Don’t use Social Media for entertainment!

Important Steps:

  1. Identify the main high-level goals in both your professional and your personal life.
  2. Once you’ve identified these goals, list for each the two or three most important activities that help you satisfy the goal. These activities should be specific.
  3. Consider the network tools you currently use, are they Useful.
Use the 80/20 Rule.

Don’t Use the Internet to Entertain Yourself
Put more thought into your leisure time. In other words, this strategy suggests that when it comes to your relaxation, don’t default to whatever catches your attention at the moment, but instead dedicate some advance thinking to the question

Schedule Every Minute of Your Day:
We spend much of our day on autopilot—not giving much thought to what we’re doing with our time. This is a problem.

ToDo:
At the beginning of each workday, turn to a new page of lined paper in a notebook you dedicate to this purpose. Down the left-hand side of the page, mark every other line with an hour of the day, covering the full set of hours you typically work. Now comes the important part: Divide the hours of your workday into blocks and assign activities to the blocks. If it gets disrupted just replan it for the rest of the Day.

 

Our Circle of Influence

Every Person has his own personal Circle of Influence, in this circle are all the things that we are knowledgeable and competent in, things like our Occupation, , Skills, Languages …

The Problem is when ever we leave this circle we become vulnerable to people who know more than us, this process is uncomfortable but essential to learn new things. It gets dangerous when we try to act outside of that circle without sufficient preparation or learning, we make much more mistakes.

This often happens in investing, when people try to invest in things they have no idea about.

The lesson here is stay in your circle of competence and when you leave it only to learn and expand that circle, but never act outside that circle. When you are outside of your circle of competence be humble enough to ask for guidance.

 

Lesson from Warren Buffet