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You’ve got a brilliant product idea, but the perfect name for your business eludes you. Or maybe you’ve been daydreaming about launching that YouTube channel, yet your calendar remains perpetually packed for weeks on end. Perhaps you’ve been refining your website for months, tirelessly tweaking it, all to create that flawless call-to-action that will make your newsletter subscribers soar.
Do any of these scenarios strike a chord?
If this sounds familiar, you’re not alone. You, my friend, are caught in the sneaky grip of procrastination. It’s a common problem we all face, but there’s hope! Warren Buffett, the Oracle of Omaha, has a simple yet powerful rule that can help you break free from inaction and set you on the path to greatness.
Embracing Warren Buffett’s Noah Rule: The Power of Action
In his 2001 shareholder letter1You can read the full 2001 Berkshire Hathaway shareholder letter here., Warren Buffett introduced a potent and enduring concept – the Noah Rule.
🧠 Warren Buffett’s Noah Rule states, “Predicting rain doesn’t count, building arks does.”
It simply means “action matters more than prediction.”
Buffett admitted that during Berkshire Hathaway’s most tumultuous year, he had anticipated risks but failed to take decisive action.
Buffett penned this revelation in the shareholder report to highlight the critical error he made that year. Berkshire Hathaway endured a disastrous year, further worsened by the tragic events of 9/11. Buffett revealed that he had actually foreseen many of the market events preceding that fateful day. However, he “didn’t convert thought to action,” thereby violating the Noah Rule (he had anticipated the rain but neglected to build an ark).
The Noah Rule emphasizes the paramount importance of taking action over merely predicting outcomes.
Embracing action equips you to weather the storm, whereas idle talk without action leaves you exposed to harsh consequences.
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Applying Warren Buffett’s Noah Rule to Your Life
Similar to Warren Buffett’s framework of Circle of Competence, the wisdom of the Noah Rule transcends the world of finance and can be readily applied to your personal and professional life. Whenever you find yourself hesitating, procrastinating, or doubting your ability to act, remember Buffett’s sage advice: “Predicting rain doesn’t count, building arks does.”
Focus on taking meaningful, decisive action, even in the face of uncertainty, and you’ll find yourself navigating the storms of life with confidence and resilience.
💡When you’re not making progress, you can start by simply asking, can I do something about it?
The Four Faces of Procrastination: Unmasking the Barriers to Action
Only put off until tomorrow what you are willing to die having left undone.
– Pablo Picasso
So, why do we procrastinate? Let’s delve into the four main reasons behind this self-sabotaging behaviour:
Time Constraints: The Illusion of a Packed Schedule
The most common excuse for procrastination is the lack of time. But if you scrutinize your daily routine, you’ll likely discover hidden pockets of time spent on mindless activities like social media, sleeping in, or watching TV.
Feeling overwhelmed with work often leads to procrastination. However, some of that busyness might be unnecessary. Scott Young in his article2 You can read Scott’s article “Is Life Better When You’re Busy?” here.explained the reasons why someone would act busy:
🚨 Busyness as signalling: Flaunting a packed schedule implies importance and status.
👀 Busyness as dodging commitment: Using busyness as an excuse to decline social obligations.
🥸 Busyness as self-deception: Believing that having no outstanding tasks is ideal.
Analysing your “packed schedule” will also help you understand if you are actually prioritising things that bring you happiness or spending your energy hopelessly doom scrolling on Instagram.
The key is to find the sweet spot between idleness and excessive busyness to avoid being overwhelmed.
💡 Instead of getting lost in distractions, prioritize meaningful tasks that add value to your life. Transform those spare 30 minutes into a pursuit of something new and fulfilling.
The Plateau of Stagnation: When Progress Comes to a Standstill
At times, you might find yourself stuck in a plateau, where progress seems impossible. There are three types of people when facing plateaus:
🤷🏽♂️ Dabblers: They give up and move on.
😢 Stressors: They frantically try to push through.
🧐 Masters: They embrace plateaus as a part of growth.
Shaan Puri in his guide3This guide by Shaan Puri has 12 frameworks that will help you make better decisions in your business. has a framework on “Getting Un-Stuck” that provides the Plateau Breakthrough Recipe: relax, get into the right mindset, and change your mental state with music, movement, and meaning.
Perfectionism: The Endless Wait for the Right Time
Some individuals may procrastinate because they want everything to be perfect before taking action. This can lead to an endless loop of inaction, as perfection is often unattainable.
Aziz Ansari explains this very beautifully in his book Modern Romance4Modern Romance is a fun read and talks about Aziz’s journey in finding love. the current problem with society.
At certain times, though, this “I need the best” mentality can be debilitating. I wish I could just eat somewhere that looks good and be happy with my choice. But I can’t. The problem is that I know somewhere there is a perfect meal for me and I have to do however much research I can to find it. That’s the thing about the Internet: It doesn’t simply help us find the best thing out there; it has helped to produce the idea that there is the best thing and, if we search hard enough, we can find it. And in turn, there are a whole bunch of inferior things that we’d be foolish to choose.
Aziz Ansari, Modern Romance
This can be seen in our daily life. We seek perfection in everything we do because of the idea that there is something out there that will help us build something “perfect” and in turn, we should wait.
We stop progressing because of this constant “I need the best” mentality.
Think progress, not perfection.
Ryan Holiday, Obstacle is the Way
Waiting rarely makes things easier; in fact, it often makes them harder. The right time is now. Get started (🚀).
Fear of Failure: The Invisible Barrier to Success
Procrastinating can be a way of avoiding potential failure, as not taking action prevents the possibility of not meeting expectations or experiencing disappointment.
Jeff Bezos, in his shareholder letter5This is mentioned in the book Invent and Wander by Walter Isaacson., mentions two types of failures:
🧪 Experimental Failure: When developing a new product, or service, or experimenting in some way, and it doesn’t work, it’s still a valuable learning experience. Embrace these failures as part of the growth process.
🫠 Operational Failure: When you already have established expertise in a field, and a new project turns into a disaster. It’s an example of poor execution. This type of failure is unacceptable.
Innovative people thrive in environments where they can make decisions and take risks.
Remember that your biggest mistakes won’t be your failures; they’ll be the opportunities you never seized.
I can accept failure, everyone fails at something. But I can’t accept not trying.
Michael Jordan
Conquering Procrastination
Warren Buffett’s Noah Rule holds the key to overcoming procrastination and unlocking your true potential. It’s a simple yet powerful reminder that taking action is far more critical than merely predicting outcomes.
To conquer procrastination, try incorporating these practical techniques into your daily routine:
🎯Set specific, achievable goals: Break your objectives into smaller, manageable tasks that you can realistically accomplish within a set time frame. Use the time-blocking technique.
📝 Prioritize tasks: Determine which tasks are most important and tackle them first. This will help you stay focused and motivated. Shaan Puri has a powerful framework to help with prioritizing tasks – “OBT” or the “One Big Thing”. Ask yourself, what’s the OBT you want to achieve in a day?
Another important way to think about your tasks is based on energy. Even though we have 24 hours per day, we don’t have 24 hours’ worth of energy to do focused quality work. Ask yourself, what are the tasks that you want to utilize your energy on?
⏰ Use time management tools: Utilize calendars, to-do lists, and productivity apps to help you stay organized and on track.
One of my favourite tools is the “two-day rule” as explained by Matt D’Avella. If you’re working on a project, never miss two days in a row. For example, if your goal is to start a blog, you have to work on it at least every alternate day; you can’t skip two days in a row.
🍅 Implement the Pomodoro Technique: Work in short, focused intervals (usually 25 minutes), followed by a brief break. This can help maintain your energy and concentration levels.
🚫 Minimize distractions: Identify and eliminate any potential distractions (e.g., social media, television, etc.) to create a conducive work environment and build a focused Knowledge Pipeline.
Unleashing the Power of Warren Buffett’s Noah Rule
Don’t let the illusion of time constraints, the paradox of busyness, the plateau of stagnation, perfectionism, or the fear of failure hold you back. Embrace the wisdom of the Noah Rule and propel yourself towards the life you’ve always dreamed of. A life of learning and growth by taking action.
Remember, the right time is now. Seize the day, take action, and start building your ark.
Footnotes:
- 1You can read the full 2001 Berkshire Hathaway shareholder letter here.
- 2You can read Scott’s article “Is Life Better When You’re Busy?” here.
- 3This guide by Shaan Puri has 12 frameworks that will help you make better decisions in your business.
- 4Modern Romance is a fun read and talks about Aziz’s journey in finding love.
- 5This is mentioned in the book Invent and Wander by Walter Isaacson.
