This mental model is mostly applicable to business situations. When entering any untapped market, there are plenty of opportunities to take advantage of. The surfing mental model, as used by Charlie Munger, argues that a business should try to maintain its position in the wave to guarantee that they grow.
Similar to the surfing sport, if a surfer approaches a wave at the right time, they can surf for long only if they maintain the right position on the wave.
Therefore, this model stresses the importance of taking the best advantage of any situation that comes your way. It doesn’t have to be only in business, but you can also apply the model in real-life.
This means you should strategically position yourself in a way that you can take full advantage of situations that impact your life positively.