Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

Market Wisdom

Learning not to Hurry is a Key to Success

Learning not to hurry is one of the most important lessons a successful person must learn. Unfortunately, modern culture often values speed and being first over everything else.

Hence, learning not to hurry is one of the most vital skills you can learn from successful people. A classic example of a successful mover who knows not to hurry is super investor Warren Buffett.

Uniquely, the Oracle of Omaha tells investors not to imitate him if they want to get rich quick, Forbes contributor Jeff Rose points out. Importantly, all of Buffett’s market moves are slow and deliberate.

Learning not to Hurry from Warren Buffett

Moreover, Buffett’s daily routine is a case study in not hurrying, Business Insider reports.

For instance, Buffett wakes up around 6:45 a.m. each day and tells PBS, “I have no desire to get to work at four in the morning.“ Therefore, Buffett gets plenty of sleep and arrives at the office relaxed and ready to work.

Incredibly, Buffett’s schedule is empty which gives him plenty of free time, Accelerated Intelligence’s Micheal Simmons reveals. This gives Uncle Warren plenty of time to research the markets and investments.

Plus, not hurrying gives Buffett lots of time to learn and think. Instead of busywork, Buffett has plenty of time to sit and think about his investments and the future of Berkshire Hathaway (NYSE: BRK.B).

Learning not to Hurry is the key to the Learner’s Lifestyle 

Hence, Berkshire Hathaway had $111.97 billion in the bank on December 31, 2018, because Warren Buffett knows how not to hurry. Not hurrying pays off for Uncle Warren because he does not rush into stupid decisions.

Buffett could accumulate a vast amount of knowledge and insight about the market because he refuses to hurry. In fact, Simmons writes “Buffett’s genius is that he prioritizes learning so he can have higher quality insights.”

In the final analysis, Buffett practices what Simmons calls “the Learner’s Lifestyle.” To clarify, in the Learner’s Lifestyle a person devotes a specific amount of time each day or week to acquiring new knowledge and skills. For example, Buffett spends several hours reading and studying each day.

Obviously, you cannot read, study, or learn if you are in a hurry. In fact, many successful people have no clue to wider developments in their fields because they are in a constant hurry. For instance, the busy CEO who does not know who his most dangerous competitors are until they steal his customers.

Tips for Learning Not to Hurry

Fortunately, you can learn not to hurry. All learning not to hurry requires is a little self-discipline, and a lot of common sense.

Some tips for learning not to hurry and living the Learner’s Lifestyle include:

Never check messages first

Generally, any batch of email, social media, mail, or phone messages contains several “important messages” that require however an immediate response. However, my experience is 95% of important messages are not important.

Thus you can avoid start your day in a hurry by checking messages later.

Try scheduling a specific time later in the day, say right before or after lunch for answering messages. Moreover, go through all your messages and phone calls before you answer any of them and only respond to the truly important stuff.

Eliminate interruptions

For instance, turn social media and the phone ringer off when you are working, studying, or reading. In addition, put your phone on airplane mode.

If you have the money, routing messages to a professional screener; such as a personal assistant, is a good idea. Notably, there are services like Upwork that can allow you to hire a virtual personal assistant. Such a service allows you to take advantage of an amenity once only available to the wealthy.

Notably, Buffett has secretaries in his office who handle all of his messages. Hence, Uncle Warren only hears about what is really important and ignores all the distracting garbage. You can do the same thing with modern technology.

Learn to Schedule

The fastest way to get into a hurry is to have no schedule. Therefore, successful people like Buffett have a simple schedule they follow each day.

For instance, Buffett tries to work for a set amount of time each day; five hours, eats breakfast at the same place McDonald’s, and begins his day by reading The Wall Street Journal.

My personal schedule is to take care of the most important or biggest tasks first and handle the smaller stuff later in the day. For instance, I will write the big high-paying article first, and look at social media, email, check bank accounts, etc., later in the day.

Additionally, simpler schedules; like Buffett’s, are easier to follow. Conversely, complex or detailed schedules are easier to ignore.

Understand when to Hurry

Obviously, there are occasions when hurrying is necessary. For instance, when you are trying to catch a plane or a train or complete an assignment on deadline.

However, the times you really need to hurry are very rare. For example, most deadlines are negotiable and there is usually another bus, or train, or plane you can catch.

Thus, it is always a good idea to ask if you really need to hurry. Ask yourself if the rewards for the task are worth the trouble of hurrying for it. If the answer is no, then do not hurry.

Hurrying only when it is necessary is a habit you can and must learn if you want to manage your time successfully. In the final analysis, learning not to hurry can be your key to success.