Long-term thinking is one of the most valuable traits of successful individuals. It demands that you forego the rewards of the immediate future and position yourself for lasting success. But long-term thinking is impossible without patience; it’s what made John D. Rockefeller one of the most successful businessmen in history. Whenever he had the opportunity, … The post [FS Members] Lessons from Rockefeller: The Upside of Patience appeared first on Farnam Street.

A lot of otherwise talented people are too pessimistic to actually do anything. They are paralyzed by risks that don’t exist and greatly exaggerate them where they do, preventing them from being one of the best. Consider this lightly edited excerpt from a conversation between Charlie Rose and Magnus Carlsen that argues it’s better to … The post The Winner’s Edge appeared first on Farnam Street.

Michael Abrashoff was in his mid-thirties when he took command of the USS Benfold, a guided missile destroyer and one of the worst-performing ships in the navy. Despite her potency, the “dysfunctional ship had a sullen crew that resented being there and could not wait to get out of the Navy.” By the time he left, less … The post Lessons on Leadership: Michael Abrashoff on Turning the Worst Ship in the Navy into the Best appeared first on Farnam Street.

We all want to learn better. That means retaining information, processing it, being able to use it when needed. More knowledge means better instincts; better insights into opportunities for both you and your organization. You will ultimately produce better work if you give yourself the space to learn. Yet often organizations get in the way of … The post Let Go of the Learning Baggage appeared first on Farnam Street.