Farnam Street

Key takeaways from Understanding your Circle of Competence: How Warren Buffett Avoids Problems

Understanding your circle of competence allows you avoid problems. As we can learn from Warren Buffett, avoiding problems is easier than solving them. Open at source

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If you want to improve your odds of success in life and business, then define the perimeter of your circle of competence, and operate inside. Over time, work to expand that circle but never fool yourself about where it stands today, and never be afraid to say “I don’t know.”

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Key takeaways from Understanding your Circle of Competence: How Warren Buffett Avoids Problems

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