Devoted to Managers and those that seek to improve their management skills

How to Filter Knowledge

Buffett talked one time about the reason he had no interest in having his office in New York. His comment was that the endless amount of information thrown around would be a continuous distraction to purpose.

I can personally attest to that as I've worked in the go-go excitement of the investment world where the next big thing comes to your attention about every half hour of every day you come to work. While it does get your blood pumping, it is the worse place to be when investing yourself.

When we hear about all the problems related to the vast growth of information and new things, it's doesn't have to be overwhelming at all. Think for a moment about life in general. How many things, on a daily basis, do you need to take in to live it? We don't panic about missing the next big thing. When we know what we want in life, it's not that hard to filter through things that have nothing to add to our experience. Business and management is the same.

One thing Buffett has always done, as one writer said concerning his being so well connected yet not looking for the latest tips from others: "Instead, he has relied on his own encyclopedic, indeed, legendary knowledge of publicly available annual reports, which he devours like pulp fiction." He has confirmed that himself when he has said that useful information is easy to get.

So what's the secret to filtering knowledge? One thing it isn't, is going through tons of material until you find the needed little nugget that will make a difference. In other words, filtering doesn't means sifting; nobody would have the time to do that.

The answer is the same for all business success, and that is to be completely immersed in the purpose of your business and who you serve and why. If we take these two areas and keep them close to us, we will be protected from the temptation to follow every new thing that comes our way.

While knowledge can be enjoyable to learn, when it comes to business and management, there are many things that are a vast waste of our important time, and need to be put aside so we can focus on who and what we are as a business or department. If something important comes along that fits in with whe we are, we'll know it because we live and breathe that purpose.

Filtering knowledge isn't about being a genius, is about knowing what a company represents and resisting taking time away from that to pursue things that aren't connected to it. Remaining true to who we are is the check and balance to keep us from going far astray.

Other Buffett Resources:

Wisdom of Warren Buffett

Warren Buffett, investor

Warren Buffett: The trouble with being a legend

Warren Buffett: 'I told you so'

Company growth

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