One thing that resonated with me in Warren Buffett: Inside the Ultimate Money Mind was the idea of studying failure. The book mentions that Charlie Munger studied failure to improve his decision-making. Munger studied the failures of others as a way of understanding thinking errors, which is studying psychology.

This got me thinking. I want to be more intentional about studying failure. I get excited about hearing what worked from entrepreneurs, but I need to be equally (or more) excited to learn about their failures and the why behind them. I’m really curious about psychology and want to keep improving my own decision-making, so this approach is appealing.

I think the first step is to regularly analyze my own failures and mistakes. I’m going to put some thought into ways I can make this a habit and see if I can adopt strategies others have used successfully.