- A million dollars today? OR
- A penny today and then double it every
day for 30 days?
Day 2: $.02
Day 3: $.04
Day 4: $.08
Day 5: $.16
Day 6: $.32
Day 7: $.64
Day 8: $1.28
Day 9: $2.56
Day 10: $5.12
Day 11: $10.24
Day 12: $20.48
Day 13: $40.96
Day 14: $81.92
Day 15: $163.84
Day 16: $327.68
Day 17: $655.36
Day 18: $1,310.72
Day 19: $2,621.44
Day 20: $5,242.88
Day 21: $10,485.76
Day 22: $20,971.52
Day 23: $41,943.04
Day 24: $83,886.08
Day 25: $167,772.16
Day 26: $335,544.32
Day 27: $671,088.64
Day 28: $1,342,177.28
Day 29: $2,684,354.56
Day 30: $5,368,709.12
Quite a difference huh? It is the power of compounding and it
works with everything in our lives and in our businesses.
Only 10% of people stick with resolutions or have goals they set and achieve. The main reason is we set the goals but we go from nothing and try to start day one with a radical new habit. Like not working out to working out for 45 minutes 3 times a week.
It has been proven that we will be more successful by starting out with a plan to simply get dressed and go to the gym 3 times a week for 2-3 weeks. Maybe we workout for 15 minutes but we are building a habit of going to the gym, little by little we will work out more. Compounding will take care of the rest.
How about sales calls or blocked time to work on our business or marketing or whatever? Start out slow for a few weeks. Don't try and go from no cold calls to 20 a week. Think about it, if you look at the example above simple, small easy, steps will compound quickly and make huge differences in your performance over time.
Only 10% of people stick with resolutions or have goals they set and achieve. The main reason is we set the goals but we go from nothing and try to start day one with a radical new habit. Like not working out to working out for 45 minutes 3 times a week.
It has been proven that we will be more successful by starting out with a plan to simply get dressed and go to the gym 3 times a week for 2-3 weeks. Maybe we workout for 15 minutes but we are building a habit of going to the gym, little by little we will work out more. Compounding will take care of the rest.
How about sales calls or blocked time to work on our business or marketing or whatever? Start out slow for a few weeks. Don't try and go from no cold calls to 20 a week. Think about it, if you look at the example above simple, small easy, steps will compound quickly and make huge differences in your performance over time.
All the best,
Rick Wallace
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