Warren Buffett's "2 List" Strategy: How to Maximize Your Focus and Master Your Priorities

STEP 2: Then, Buffett asked Flint to review his list and circle his top 5 goals. Again, Flint took some time, made his way through the list, and eventually decided on his 5 most important goals.

Note: If you're following along at home, pause right now and do these first two steps before moving on to Step 3.

STEP 3: At this point, Flint had two lists. The 5 items he had circled were List A and the 20 items he had not circled were List B.

Flint confirmed that he would start working on his top 5 goals right away. And that's when Buffett asked him about the second list, “And what about the ones you didn't circle?”

Flint replied, “Well, the top 5 are my primary focus, but the other 20 come in a close second. They are still important so I’ll work on those intermittently as I see fit. They are not as urgent, but I still plan to give them a dedicated effort.”

To which Buffett replied, “No. You’ve got it wrong, Mike. Everything you didn’t circle just became your Avoid-At-All-Cost list. No matter what, these things get no attention from you until you’ve succeeded with your top 5.”

I believe in minimalism and simplicity. I like getting rid of waste. I think that eliminating the inessential is one of the best ways to make life easier, make good habits more automatic, and make you grateful for what you do have.