Skip to content

CAIL Innovation Blog

Insights on “ How to Think “ – to be successful

  • by

To meaningfully improve outcomes and to make innovation more rewarding, it’s important to know “ How to Think “.      

An example of this is Warren Buffet referring to Charlie Munger as the smartest man he knows – his partner at Berkshire Hathaway. Together they’ve built a $1 Trillion empire.  His speeches are a masterclass in decision making, rationality, and success.

Here are Charlie’s 10 best insights to help you win at business and in life :

1.Knowing what you don’t know is more useful than being brilliant

Most people spend their lives wrestling with the consequences of poor decisions. But the truth is it’s much easier to avoid stupidity than trying to be smart !

>  Admit you know little or nothing – and remove ego from the equation.

2.A majority of life’s errors are caused by forgetting what one is really trying to do

We set goals and pursue them – then get distracted.

To achieve something meaningful, you need to constantly “ correct course “.

>  To do this Set a north star and keep it front of mind.

3.Mimicking the herd invites regression to the mean

If you do the same as everyone else, you’ll get the same results !

With most people being – Unhappy , Unfulfilled , Unmotivated – recognize following society’s standards traps you in them.

>  Be bold. Go against the grain. Be willing to try.

4.To get what you want – You have to deserve what you want

You can’t control results, but you can control your –  Character , Work Ethic , Willingness To Learn

>  Because of thisRecognize it’s about earning what you want.

5.The fundamental algorithm of life – Repeat What Works

It’s easy to overcomplicate things.

With everything you do providing feedback, smart people listen and follow up accordingly.

When something goes poorly – do less of it.

>  When something goes well – do much more of it.

6.Those who keep learning – Keep Rising

Unfortunately, most people stop learning at 18 !

Recognize knowledge is an asset that compounds over time.

The more you know, the better you think, you make better choices, and achieve results.

>  Schedule time to learn new things and develop your thinking.

7.You don’t have to be brilliant –  Only Wiser Than Others

Buffet and Munger’s approach  –  Rationality and Patience.

>  Be methodical, know how to test, and when to change – for impressive results.

8.The best thing a person can do is help another person know more

The best way to live your life is in service to others – especially those also interested in learning.

>  Be knowledgeable and innovative. Share your ideas and insights to help people win.

9.Make time almost every day to Sit and Think

We live at a time of constant input where many people want quick gratification, be efficient,  maximize productivity, etc.

But life is cause and effect.

>  Because good look ahead, decision making, and the ability to act are critical to success –  taking time to become more aware and thinking things through is a priority.

10.Know the big ideas in the big disciplines and use them routinely

Principles from the sciences (Maths , Physics , Biology , Philosophy , Engineering) and lessons learned in life – have a profound impact.

And realize “ How you look at a situation “ and “ The desire to make something better “ hugely influence the outcome.

>  Study mental models. Build a toolkit. Treat your mind like your greatest asset.

Dec 1, 2022    –   CAIL Innovation commentary         905-940-9000

Leave a Reply

Your email address will not be published. Required fields are marked *