Warren Buffet’s Two-List Strategy to Master Your Focus and Priorities

I’m a minimalist. I love keeping things simple and eliminating everything extra. First, I don’t have time for it. Second, I don’t need it.

Life’s far easier when I keep things simple. I can accomplish more, save more, and live more. That’s why when I read Warren Buffet’s two-list strategy on the power of elimination, I knew I needed to share it with you.

The Two-List Strategy

The story of Buffett’s two-list strategy originates from a conversation he reportedly had with his personal pilot, Mike Flint. Flint had worked for Buffett for years, and one day, Buffett asked him about his career goals and what he wanted to achieve in life.

Buffett challenged Flint to list his top 25 goals—everything he wanted to accomplish. After Flint finished, Buffett asked him to circle the five most important goals. Flint did so, and Buffett confirmed that these five were the most crucial to his future.

When Buffett asked what Flint planned to do about the other 20 goals, Flint said he would focus on the top 5 but also work on the others occasionally when he had time. This seemed logical—why not tackle as many goals as possible? But Buffett immediately stopped him and gave him the real advice–the remaining 20 goals were now Flint’s “avoid at all costs” list.

Buffett explained that the biggest danger wasn’t failing to achieve those top 5 goals but being distracted by the other 20. These are the goals that seem important enough to work on but ultimately pull your focus away from what really matters.

The Danger of “Almost” Goals

“Almost” goals are the sneaky distractions that look just important enough to steal your focus but not impactful enough to truly change your life. They’re the projects you start but never finish, the side hustles that drain your time, or the commitments you say yes to out of guilt rather than passion.

Research shows that multitasking can reduce productivity by up to 40%, and those “almost” goals are the mental equivalent of multitasking your life away. You spread yourself thin, investing bits of energy everywhere and making real progress nowhere. These goals trick you into thinking you’re doing something worthwhile when, in reality, they’re pulling you away from your true priorities.

Steve Jobs was known for saying no to hundreds of good ideas so he could focus on the few great ones. He famously said, “I’m as proud of what we don’t do as I am of what we do.” His ability to avoid “almost” goals allowed him to drive Apple’s greatest successes.

The danger of these almost goals is that they keep you busy but not effective, creating an endless loop of activity without accomplishment. You might feel productive, but at the end of the day, you’re no closer to your top priorities. When you chase every shiny object, you lose the chance to excel at the goals that truly matter.

Why the Two-List Strategy Works

We all want to do it all. But trying to do everything typically results in accomplishing nothing.

The two-list strategy forces you to choose. It kills the illusion that you can juggle 25 things at once…because you can’t. No one can.

By focusing on your top 5, you get the clarity and direction you need. The rest? It’s just noise. When you cut the noise, you finally start making real progress. So, stick to your top 5. Master those. Let the rest go.

How to Stay Committed to Your Top 5 Goals

Staying committed to your goals requires more than just motivation; it’s about creating habits and systems that keep you on track, even when motivation fades. Here are a few tips to help you along the way:

• Break Down Your Goals: Divide your big goals into smaller, manageable steps to make them less overwhelming.
• Set Specific Deadlines: Assign deadlines to each step to maintain urgency and accountability.
• Use Tracking Tools: Utilize planners, apps, or sticky notes to monitor daily progress and stay on track.
• Celebrate Small Wins: Recognize and reward your achievements, no matter how small, to keep your motivation high.
• Eliminate Distractions: Cut out activities, commitments, or habits that don’t align with your top 5 priorities.
• Practice Saying No: Set boundaries and say no to requests that pull you away from your main goals.
• Keep Your Goals Visible: Write down your top goals and place them where you’ll see them daily, like your desk or phone screen.
• Create Support Systems: Share your goals with friends or join groups that provide accountability and encouragement.
• Review Your Progress Regularly: Schedule regular check-ins with yourself to assess your progress and adjust your actions if needed.
• Focus on Consistency Over Perfection: Stay committed even when you slip up; it’s about getting back on track quickly.

My Challenge to You

The most dangerous distractions are the ones that you care about but don’t really care about you. They’re the extras–the nice-to-haves.

I challenge you to write down your top 25 things you need to do. Now, I want you to circle the top 5 and forget about the rest until the top 5 are done.

That’s it. That’s all I want for you. Give it a try and let me know how it goes.