Intersting 10000

Warren Buffett... Bill Gates... Sachin Tendulkar... The sheer mention of these larger-than-life demigods fills us with awe and reverence. They seem like glorious stars; so many light years away that we are content just gazing at them.

Most of us have grown up believing that all great people have some inborn talent. As if they were just meant to be that way. Have you ever thought if it would be possible to be like them? If you haven't, you may want to reconsider after reading this. Okay, let's consider what it takes to become a super-achiever.

Achievement= Innate talent+ Opportunity+ Preparation.

There is not much to debate about this equation. These three ingredients pretty much make up the recipe for success. The interesting part is this... Research on super-achievers has led psychologists to this conclusion: Preparation plays a much bigger role in determining an individual's success than innate talent. Wow! This means that even if you're not a born genius, you haven't lost the battle. All you need is a willingness to prepare well.

Now the next question is quite obvious. How much preparation to become a world-class expert? Through extensive research in the 1990s, psychologist Anders Ericsson arrived at a precise number: 10,000 hours. Various studies strongly pointed that 10,000 hours of practice was required to achieve world-class expertise in anything. It seems that it takes the brain this long to assimilate all that it needs to know to achieve true mastery.

Warren Buffet, for instance, is famed for his discipline and the hours he spends studying financial statements of potential investment targets. But his informal schooling in business and investment started much early when he was just 5. As a kid, Buffett displayed a keen interest in making and saving money. He would go door to door selling chewing gum, Coca-Cola, or weekly magazines. While still in high school, he carried out several successful money-making ideas. By age 11 he made his first investment buying a stock. And by age 13, he had filed his first income tax return.

Take our own little master-blaster Sachin Tendulkar. He is known for spending long hours at the nets, always perfecting his cricketing reflexes. Take Microsoft's founder Bill Gates. He met the 10,000-hour rule when he gained access to a high school computer at the age of 13, and spent 10,000 hours programming on it. Practice isn't the thing you do once you're good. It's the thing you do that makes you good.


source: equity master.