How much time should I spend thinking instead of doing? It’s one of the biggest questions I struggle with. One side of me says, “Without doing you will never achieve anything.”
Another side says, “Without thinking things through, you might end up doing the wrong things.”
Thinking by itself is worthless because if you never do anything, what’s the use? And if you only act without thinking, you’ll probably end up in jail or in a ditch. That’s why this topic is so important. But most of us never even consider living by a thinking/doing ratio.
I live by a 20/80 ratio.
Before I explain why that is, and how you can create your own ratio, let’s look at some of the most respected individuals of our time: Warren Buffett and Charlie Munger, two investors who are celebrated for their good decisions and thinking processes.
They are not only thinkers, but they are also successful practitioners.