Warren Buffet Explains his Greatest Investment
He said, “I knew you were going to ask. The answer is, ‘Yes.’”
A commitment:
He had committed to give one personal face-to-face affirmation everyday for two weeks. I thought it was a leap. He said, “I like challenges.”
At the end of our coaching call, I asked, “What do you want me to ask you about next time?”
He said, “Ask me about giving personal affirmations.”
There was a 95% chance he would make change.
95%:
In his book, It’s Not About the Money, Bob Proctor explains research on the likelihood that you will make change.
Personal change might begin with a good idea. But good ideas aren’t enough.
- You have a 10% chance of making change if you say, “That’s a good idea.”
- You have a 25% chance of making change if you say, “”I’ll do it.”
- You have a 40% chance of making change if you set a time to do it.
- You have a 50% chance of making change if you plan HOW to do it.
- You have a 60% chance of making change if you make a commitment.
- You have a 95% chance of making change if you set a specific time to share your progress with someone. (Level 6 appointment.)
Warren Buffet’s greatest investment:
“… there’s one investment that supersedes all others: Invest in yourself. Address whatever you feel your weaknesses are, and do it now.
I was terrified of public speaking when I was young. I couldn’t do it. It cost me $100 to take a Dale Carnegie course, and it changed my life.
I got so confident about my new ability, I proposed to my wife during the middle of the course.” Warren Buffet
Today’s challenge:
Invest in yourself. Think of a good idea that nudges your leadership in a positive direction. Make a “Level 6” appointment.
How might you make personal change?
How might you help others make personal change?
*The post is inspired by an email I received from Whitney Johnson. In that email she referenced Bob Proctor’s book.
Be precise. Write down the exact change you want to make.
Post it somewhere that you can read it three times a day.
Brilliant. Thanks Paul. I have a couple white boards in my office where I often do just that. Cheers.
Dear Dan,
An interesting post with good take away!
We need to accept challenges and work towards progressive steps with commitment. A professional leader works with optimism and vision backed by an organised approach to excel at goals.
Loved the 6 different success rates! Obviously, 95% success will be opted with the team’s support and 100% execution. 5% is then left to destiny, I suppose!
Thanks Dr. Asher. Great seeing you here today. I think the real challenge with the six different rates is applying them to ourselves rather than to others. 🙂
Dan,
We tend to plan our lives around the clock & the calendar, once you commit your there.
So from a sense of delivering “don’t specify if you can’t commit”, or from the standpoint don’t promise something you can’t deliver!
Turn your ‘can’t do into can do” by commitment, once you master the act of commitment your there.
Thanks Tim. Hope you had a great Easter weekend.
What I take for your comment is “Choose your commitments carefully.”
How might you make personal change?
How might you help others make personal change?
Identify relevant, useful things to alter, rather than thrash around “changing” things simply for the sake of change. Random mutations are changes, and most don’t last beyond a single generation as they are not actually useful.
Thanks Mitch. Irrelevant change is draining because we put our energy into something that doesn’t matter. Wonderful observation.
When changing, take time to ask, “How much does this matter?”
I should add that we don’t have to try for big change. Small changes can matter.
Dan, exactly. We seem to use the word “change” when we mean “progress”. Every organisation I’ve worked for has had a “Change Management” program, but not one has had a “Progress Management” program. Why is this? Lack of faith? That the changes aren’t for the benefit of the participants? Lack of vision?
Progress Management Program … now that’s brilliant!
Thanks for sharing this Dan. I’ve added this book to my list and look forward to what other insights I can discover.
Thanks Bobby. I appreciate you dropping in. Happy Reading.