what scorecard are you using?
we're all using one, after all
You’re reading the flourishing factory— a newsletter for people on a mission to live with more creativity, margin, and growth by JD Tyler
Warren Buffett hardly needs an introduction.
This Nebraska boy is one of the most successful investors in history, with a track record earning him the nickname “the Oracle of Omaha” and a net worth placing him among the world’s wealthiest individuals.
And beyond business advice, Buffett possesses wisdom worth listening to.
Especially when he starts talking about scorecards.
Despite generating billions of dollars for investors in his fund, Buffett receives criticism for leaving billions more on the table.
Why? Because he refuses to compromise a few core beliefs.
Buffett won’t implement layoffs or sell holdings he could easily replace with more profitable ventures. Based in his hometown of Omaha, he won’t move his headquarters to tax havens like Bermuda, which would legally save billions in taxes.
This costs unimaginable sums of money and frustrates investors.
Yet Warren won’t give in.
This quote explains why.
“The big question about how people behave is whether they’ve got an Inner Scorecard or an Outer Scorecard. It helps if you can be satisfied with an Inner Scorecard.”
Most people operate with an external scorecard.
That is, success is defined exclusively by others. The goals we strive for, the decisions we take, the work we do is all dictated by others. Our families, community, our online followers, our internet influencers.
But some people — the best kind of people — have an internal scorecard.
They make decisions according to goals, standards, and expectations which they deem worthy. They won’t do something because others want them to.
And if their internal scorecard isn’t matching with the scorecards of others……they’re willing to live with that tension.
Because at the end of the day, you have to live with yourself longer than you live with anyone else’s opinion.
The question isn’t whether the crowd approves.
The real question is whether the person in the mirror does.
So every once in a while, it’s worth pausing and asking: Whose scorecard am I really playing for?
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