Want to Improve Your Investing Habits? Try Warren Buffett's Circle of Confidence.

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Make your financial strategy sleeker and more customized to your passion with this concept.

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According to Entrepreneur Network partner Phil Town, if you want to become a successful investor, you should develop a circle of competence. A circle of competence is an aggregation of all the things you have expertise in, and Town says you should focus on making investment decisions on topics, businesses and industries that fit within the circle.

To further narrow your search and identify possible investments, you should look at the companies within your circle that match your values. 

Click play to learn more about how you can define your circle of competence and make better investments. 

Related: The Pros and Cons of Investing in a Stock Index

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