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

"Ask questions constantly and never assume that we have achieved 'expert' status in anything."

Anybody that's read anything about Warren Buffett and Berkshire Hathaway (BRK-A) knows one of the primary things he considers as vital to the business is making sure he stays within his circle of competence.

What's interesting about that concept, is there's another side to it, and that's to never assume our competence is at an "expert" level.

Once we assume we've achieved being an expert in something, we're setting ourselves up to be bit from behind. If we believe we've achieved, we stop asking questions; if we stop asking questions, we stop learning; if we stop learning, we stop growing; if we stop growing, the only alternative is to go into decline.

In a way, Buffett is saying at best, we're barely competent, and that's a healthy attitude to live with.

Here's another thing to resist along those same lines: don't compare yourself against other business leaders or companies. Even if you're further along at this time than they are, it only takes them asking the right questions and getting the right answers to turn that around.

While we may be content with what we do know, in reality there will always be more that we don't know than what we do.

To understand this is to live in the healthy tension of working with what we have while always searching for new and better ways of doing things.

We are always students on a continuing journey until we leave this earth. Those that know this will comprehend the value of daily working and operating with an openness and search that keeps the business and life on a forward path. Buffett has been on that journey for some time; so should we be.

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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