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The 'Circle Of Competence' Theory Will Help You Make Vastly Smarter Decisions

https://www.businessinsider.com/the-circle-of-competence-theory-2013-12#

businessinsider.com

The 'Circle Of Competence' Theory Will Help You Make Vastly Smarter Decisions
"I'm no genius. I'm smart in spots-but I stay around those spots." - Tom Watson Sr., Founder of IBM The concept of the "Circle of Competence" has been used over the years by Warren Buffett as a way to focus investors on only operating in areas they knew best.

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Circle of competence

Circle of competence

If you want to improve your odds of success in life and business then define the perimeter of your circle of competence, and operate inside. 

The concept has been used by Warren Buffett and relates to the importance of  honestly definining what we do know and to stick to those areas. 

The circle can be widened, but only slowly and over time. 

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