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Errors of Omission: What are you not doing that you should be Doing?

Warren Buffett often says that he is less scared by the errors he has made than by the sheer enormity of all the opportunities that he never even saw as they passed him by.

Your progress in life is far less linked to whether you execute perfectly on the things you actually act on, and far more linked to whether you are able to see great opportunities as they pass you by.

In psychology we define 2 types of error:

  • Type 1 – poor execution and
  • Type 2 – never even seeing the opportunity to act

Our psychological makeup has us much more worried about the type 1 errors – because we are fully aware of them. We should be much more worried about the type 2 errors, because they are the ones that make the biggest impact on our trajectory through life.

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