How To Make Your New Year’s Resolutions Succeed Using Warren Buffett’s Method

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# How To Make Your New Year’s Resolutions Succeed Using Warren Buffett’s Method

Xue Miao

It seems wildly popular to make New Year’s resolutions at the start of the year.

It’s also the time of the year when our level of inspiration is at its peak, and we will start listing all the things that we wish to accomplish in the new year.

However, the very human me has been part of the 80% of the population with failed New Year’s resolutions every single year.

Determined to make them work this year, I tried to look for new approaches to achieve my big goals and dreams.

There were so many methods out there that could teach me how to stick to my goals, but I found myself gearing towards the method by one of the venerated figures in the personal finance sphere – Mr Warren Buffett.

Just like many high achievers out there, Warren Buffett employs highly effective strategies that allow him to stay focused and attain the success that we witness today.

And what makes this method so popular is because of how simple and straightforward this method is.

Let’s do it.

## TL;DR: How To Make Your New Year’s Resolutions Using Warren Buffett’s Simple 3-Step Method

Warren Buffett's Simple 3-Step Method
1List down the top 25 goals that you wish to achieve
2Rank the items in order of importance, and pick out the top 5 goals
3Focus on these top 5 goals and eliminate the rest

If you value productivity and speed, this might be what you’re looking for.

This method is REALLY simple, and you can complete this three-step exercise very quickly.

### Step 1

List down the top 25 goals that you wish to achieve for the year.

Nothing is off the table, and you can jot down anything that you hope to accomplish.

Note: This exercise can also be done for a shorter timeframe (e.g. three months) if you wish to attain goals with a shorter timeline.

### Step 2

Rank the items in order of importance.

Pick out the top five goals that you have.

Place these five goals into List A.

The rest of the 20 goals will be in List B.

### Step 3

The five goals on your List A will be the ones you are to focus on.

Now, what about the next 20 items on List B?

Everything that is on List B has become part of your Avoid-At-All-Cost list.

None of them should get any attention unless the ones in List A have been completed.

## Why This Method Works

Sounds too easy to be true, right?

All of us have limited energy and attention to the things around us.

With more choices than ever today, it is easy to get distracted and lose focus.

Because of this, it is also increasingly difficult to dedicate sufficient time to hone a skill to a high level of competency.

By allowing ourselves to zoom into the five most important things, we get to eliminate potential distractions and prioritise our time to what is truly important to us.

And your odds of success will improve when you focus on a singular pursuit instead.

While Warren Buffett’s advice referred to career goals, this can extend to most of our goals, including health, relationships and personal goals.

## Does This Mean That We Ignore the Rest?

There is a reason why the rest of the 20 items made it to your List B.

They are important to us to a certain extent.

This is why most of us have trouble putting them off completely, which would eventually lead to us keeping them around but not completing them.

And this is why Buffett’s strategy is wonderful.

When these 20 items are compared against your top five priorities, they are considered secondary priorities which would serve as distractions.

By employing Buffett’s method, you will force yourself to focus on attaining your goals.

Once you’ve completed these five goals, you can move on to the sixth on the list.

The main focus is to dedicate your time and energy to only a few specific tasks at any given point in time.

## What Are Your New Year’s Resolutions This Year?

Time and attention are finite resources that we have while we are on Earth.

And they get more precious when there is an increase in things that fight for our attention.

When we are forced to eliminate options and reevaluate our priorities, we get to work on the things that truly matter to us.

A millennial who is learning to adult. She doesn't believe in the rat race and hopes to live on a farm someday.
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