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The Munger Technique: The Best Way To Improve Yourself - Darius Foroux

https://dariusforoux.com/munger-technique/

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The Munger Technique: The Best Way To Improve Yourself - Darius Foroux
The Munger Technique will make you a reliable person. When you improve yourself a little bit every day, the improvements add up.

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The Munger Technique

The Munger Technique

*Just like compound interest multiples one’s savings, improving one’s mind daily, during the best hour of the day, multiplies one’s mental compounding interest.

This ‘mental’ compounding interest advice comes from investor Charlie Munger, in his book University of Berkshire Hathaway.

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Investing In the Best Hours Of Your Day

  • The morning hours are usually the best hours of your day, and what you do at that time has the power to change your life.
  • Keep yourself away from distractions and just focus on your morning goals, like meditating, reading, writing or exercising.
  • Checking e-mail, watching the news, or consuming useless (junk) content is the worst thing you can do in the morning.

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The “Water Mindset”

Taking a cue from Bruce Lee’s famous quote ‘Be Water’, we must adopt a water mindset and adapt to our body and physiology: our best hour of the day could be any hour of the day, as long as it is according to you. Give yourself the best hour of the day.

All of us cannot wake up and join the 5 AM Club as our bodies are different and each morning isn’t the same.

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Working at Night

Working at Night

There is an inverse correlation between the number of hours we work and the effects it has on our lives.

Studies point out that 40% of people are working at night

How to Limit Working at Night

  • Turn off work devices before 10 PM and tuck them away. It is about making it difficult for yourself to work.
  • Put books everywhere in your house. Make it harder to work at night and easier to read.
  • Use sleep mode, if this option is available to you. Since most of us want our phones available for emergencies, use sleep mode on; it locks your screen and doesn't display any notifications.

The Tortoise and Rabbit Inside You

One of Aesop's fables is about the race between the tortoise and the rabbit.

In life, we have both inside us. One urges you to go fast; the other to go slow, but steady. Sprinting at times is good, but we should not think we can always rely on our speed as we will burn out. We achieve more by making a little progress every day.

Dwight Eisenhower
“Plans are nothing; planning is everything.”

Dwight Eisenhower

Woody Allen

Woody Allen

“Eighty percent of success is showing up.”

Don’t Resist

When everything is going right, you’re going with the flow. When everything is not going right, you’re trying to go against it.

So instead of feeling frustrated, choose to take it easy. Have that ice cream. Sleep in. Don’t work out.  Eventually, you’ll want to get back to your productive routines.

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Improve decisions by focusing on the process

Improve decisions by focusing on the process

Most people assume that good decision making is choosing a course of action that leads to the desired outcome.

In reality, decision making is about how you end up with your...

Thought-provoking questions

Before making a decision, don't just ask the obvious questions like "what are my alternatives?" or "what are the consequences?"

Consider instead these questions:

  1. Why might my belief not be true?
  2. What other evidence might be out there?
  3. Are there similar areas I can look for to gauge whether similar beliefs to mine are true?
  4. What sources of information could I have missed?
  5. What reasons could someone else have to support a different belief?
  6. What other perspectives are there?

Think about what you can’t know

Asking yourself critical questions forces you to think about what you can't know.

Critical questions direct you to friends, mentors, communities, books, courses, and even podcasts for insights that encourage an outside perspective.