Surviving Adversity

Recently my mentor shared an article with me, it emphasizes the mindset of accepting and preparing for adversity.  The article talks about a quote from Warren Buffet that needed some light shined on it.  Back in Berkshire’s 2001 financial report, Buffet said: “Predicting rain doesn’t count, building an arc does.”  This is considered The Noahs Rule.  Basically, Buffet had predicted the troubles in the coming financial year of 2001 but did not take any action, thus he and his company suffered severe losses. The Noah Rule is broken into three parts.  First, consider scenario planning.  Second, create plans for each scenario.  Lastly, take action accordingly. It is about evaluating your future goals and preparing yourself for possible obstacles, mishaps, or changes.  We consider this adversity.  Whether your goal is to get an A in your chemistry class, earn $1000 in options trading, or learn to invest in real estate, your path will hit some bumps along the way.   This is an essential mindset for you to understand.  Having plans of action for possible bumps keeps you calm and ready for ‘the worst.’  In the event of an obstacle, your predicted cases will prevent you from making emotional decisions in times of stress or confusion.  You just fall back to your predetermined plan of action.  In turn, an individual who can battle and learn from adversity will continue to grow for the rest of his/her life.  

Link – https://www.inc.com/scott-mautz/warren-buffetts-little-known-noah-rule-is-key-to-surviving-adversity.html?cid=search 

 



Categories: Miscellaneous

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