Buffett told him to do 3 things. Step 1: Write down your top 25 career goals on a single piece of paper. Step 2: Circle your top five picks. Step 3: Put the top five on one list and the remaining 20 on a second list.
Buffett's 5/25 rule is not only a great strategy for investing but also a useful tool for maximizing productivity. The rule is simple: identify the 25 most important things on your to-do list, prioritize them, and then focus on the top five items while ignoring the rest.
Warren Buffet created the 5/25 rule, a productivity strategy you can follow in three steps: Write down a list of your top 25 goals. Circle the 5 most important goals for you. These can be the most urgent goals or the ones that are your highest priority.
The 5/25 rule's popularity came from a story about Warren Buffett having given Mike Flint, his pilot for 10 years, advice about his career priorities. The advice is to list out his top 25 career goals, and from those 25, encircle the top 5. Buffett then advised Flint to focus on these 5 and let go of the others.
Warren Buffet's 5/25 rule is a productivity strategy based on three simple steps: Write down a list of your top 25 career goals. Circle the 5 most important goals that truly speak to you. These are your most urgent goals and the highest priorities to focus on.
The 1-3-5 rule is a productivity strategy that forces you to be productive by taking periodic breaks from your work. It's based on a simple three-step formula: pick one major task to accomplish, divide it into three medium tasks, and then divide those three medium tasks into five small tasks.
The Rule of 5 simply states that you must do 5 things every day that lead you towards your goal. Chunking down your goals into smaller action steps help you to persist daily, and it will pay off handsomely.
The 50-30-20 formula means designating 50% of your workday to activities that advance your life goals; 30% to tasks that advance mid-term goals; and 20% to working toward more immediate goals.
The 1–3–5 rule is a productivity strategy that forces you to be productive by taking breaks from your work on a regular basis. It works on a three-step formula: choose one major task to complete, divide it into three medium tasks, and then divide those three medium tasks into five small tasks.
Warren's answer was the secret sauce that makes the 20/5 rule so compelling. If you haven't selected something in your top five, you should avoid it at all costs. No matter how attractive the other goals are, you can only come back to them once you've achieved your top five.
Therefore, it's also important to set 50-50 goals, which you have only a 50 percent chance of achieving. While these goals are more challenging, they are also far more satisfying to reach. Whatever you do, don't “sandbag” by setting only goals you can easily achieve.
The concept of 50/50 goals is that 50% of a goal's success is based on achieving the quantifiable outcome and 50% is based on identifying a lesson or skill that you can apply to your business to improve results in the long run.
First, Buffett told Flint to make a list of his top 25 career goals. Then, Buffett said to circle the top five goals. But here comes the interesting part. The idea is, to remain focused on accomplishing goals 1 through 5, you have to stay completely away from working on goals 6 through 25.
Warren Buffett 1930–
Rule No 1: never lose money. Rule No 2: never forget rule No 1. Investment must be rational; if you can't understand it, don't do it. It's only when the tide goes out that you learn who's been swimming naked.
40% of your time should be devoted to your most important priority. 30% of your time should be devoted to your second priority. 20% of your time should be devoted to your third priority. 10% of your time should be devoted to everything else (urgent and obligatory tasks).
In simplest terms, about 80 percent of the results come from 20 percent of activities. Just a small number of tasks account for the majority of progress. The key then is to identify those key areas and focus energy there. This 80/20 rule has permeated time management literature and talks; it's honestly not a new idea.
The Pomodoro Technique is a time management method based on 25-minute stretches of focused work broken by five-minute breaks. Longer breaks, typically 15 to 30 minutes, are taken after four consecutive work intervals. Each work interval is called a pomodoro, the Italian word for tomato (plural: pomodori).
It goes like this: 40% of income should go towards necessities (such as rent/mortgage, utilities, and groceries) 30% should go towards discretionary spending (such as dining out, entertainment, and shopping) - Hubble Spending Money Account is just for this. 20% should go towards savings or paying off debt.
The 4 Ds are: Do, Defer (Delay), Delegate, and Delete (Drop). Placing a task or project into one of these categories helps you manage your limited time more effectively and stay focused on what matters most to you.
When applied to work, it means that approximately 20 percent of your efforts produce 80 percent of the results. Learning to recognize and then focus on that 20 percent is the key to making the most effective use of your time. Here are two quick tips to develop 80/20 thinking: Take a good look at the people around you.
At 10 feet: Look up from what you are doing, and acknowledge the customer with direct eye contact and a nod. At 5 feet: Smile, with your lips and eyes. At 3 feet: Verbally greet the customer and offer a time-of-day greeting (“Good Morning”).
The idea behind the 5-by-5 rule is pretty straightforward. If something won't matter five years down the line, don't bother wasting more than five minutes obsessing over it.
Rule 1 is a community-created rule that refers to when two players get stuck by driving directly into each other, causing them both to be stuck as they accelerate into each other. As part of Rule 1, when two players find themselves in this situation, neither of them are allowed to break the lock by driving off.