Finding you competence - How Warren Buffett made Billions

This is where many fail.

“I’m no genius. I’m smart in spots—but I stay around those spots.”

— Tom Watson Sr., Founder of IBM


The circle of competence was made popular by Buffett, who says that he will only invest in companies or areas which he is able to understand. This means he has perfect self-awareness about his boundaries. ie, He knows his competence very well.

As marketers, this can't be more true in the times of digital advertisements.

Nowadays what I see is that marketers are spreading themselves too thin by trying to execute campaigns on all platforms at once. It barely works out.

What you need to do is to find out your competence initially. It might be Instagram. It might be Linkedin. Then create an audience from there to convert them to your initial customers by doubling down on those one or two platforms.

After you built a pillar platform, it is way easier to launch a new platform and send your followers to that one. As always, one step at a time.
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