Inner and Outer Scorecard

Would you rather be the world’s greatest lover, but have everyone think you’re the world’s worst lover? Or would you rather be the world’s worst lover but have everyone think you’re the world’s greatest lover?

Now, that’s an interesting question. “Here’s another one. If the world couldn’t see your results, would you rather be thought of as the world’s greatest investor but in reality have the world’s worst record? Or be thought of as the world’s worst investor when you were actually the best? - The Snowball, Alice Schroeder

Legendary investor, Warren Buffett, is famous for his latticework of mental models, one of them being the outer and inner scorecard.

The outer scorecard is external validation. What do people think of you? Do you have status, prestige, or money? The outer scorecard is society’s definition of success.

The inner scorecard is internal validation. Do you have a sense of self worth? Do you have strong relationships around you? Are you doing meaningful work? The inner scorecard is your own definition of success.

One of Buffet’s secrets is that he plays for the inner scorecard.