l'll fish where the fish are

A man that stuck with Warren Buffett for many years, Charlie Munger, made a quote that I've been thinking about all morning, trying to understand exactly how to apply the wisdom in my own life. I said that I had free time, it's coming to an end so I'll soon be back to work. I want to return to work having understood this principle because it worked out great for him and it looks like it makes sense a lot.

His quote was

• The first rule of fishing is to fish where the fish are. The second rule of fishing is to never forget the first rule

The simplest way I can interpret that advice is that I should stop working hard in the wrong places. It looks like a really obvious thing I should already be doing but I don't and many of us do spend years "fishing" where there are no fish so we don't get the fish and we ask why. The water doesn't create fish because we're at the spot looking so we could look our entire life and get nothing.

The biggest mistake I kept making for a while when I made attempts of starting my own business was focusing on the tools and skills I had first and trying to force it to work. I don't check to see whether the opportunity to use that skill even exists in the location I've chosen.

The fish Mr Munger speaks of are the things we want like money and success in all our endeavors.

What is the point of your own talent in an empty room Also if the results of the talent is not wanted in the room you're showing it, guess what, you're technically still showing in an empty room. So the place you choose to do the work is more important than how much effort you put into the work.

I can't use this wisdom without first being very honest with myself on what I'm trying to do. If I'm trying so hard to find success in a place oversaturated with people already fighting for the same thing, I'm making life insanely difficult for myself.

We may not always get an opportunity where the rewards are a lot and the competition is little because everyone wants rewards but if you can commit yourself to the things that only a few are willing to pay the price to get, you're going to guarantee success and greatness, but if you are not getting the results you desire for so long, you could choose to have a never give up attitude or you can stop looking at your equipment and start looking at the water.

Original source of the image from Pixabay but edited by me

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