Understanding your Circle of Competence: How Warren Buffett Avoids Problems - Farnam Street
Understanding where you have an edge and where you don't can help you prevent problems, spot opportunities others miss, and rapidly learn. We all have a circle of competence - an area in which we have a lot of earned knowledge.
Mental Models | Reading Time: 5 minutes Mastering Success: Navigating Within Your Circle of Competence Understanding where you have an edge and where you don’t can help you prevent problems, spot opportunities others miss, and rapidly learn. We all have a circle of competence – an area in which we have a lot of earned knowledge. The size of that circle is not important. What is important is knowing when you are approaching the perimeter. Within your circle of competence, you operate with an advantage. As you approach the perimeter (the limitations of your knowledge), your advantage
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