Food for thought...
You have heard the analogy using the question “Which would you rather have $1,000,000 or a penny that doubles every day for 30 days?” that teaches the value of incremental change compounded daily over time right? Here's how that looks:
$0.01
$0.03
$0.06
$0.12
$0.24
$0.48
$0.96
$1.92
$3.84
$7.68
$15.36
$30.72
$61.44
$122.88
$245.76
$491.52
$983.04
$1,966.08
$3,932.16
$7,864.32
$15,728.64
$31,457.28
$62,914.56
$125,829.12
$251,658.24
$503,316.48 - Day 26... The million still looks good but by now you get the idea...
$1,006,632.96
$2,013,265.92
$4,026,531.84
$8,053,063.68
Obviously you want the penny… but have you ever considered what happens over the NEXT 30 days? This is an astounding example of the principles taught in “The Slight Edge” applied. Small, consistent, incremental changes applied over time produce very little at first but as we continue to press on we end up with results that completely eclipse those around us. We tend to use money as the example because it so easy to see the compounded results. However, those same results can be had in all other areas of our lives if we will simply identify an area in which we wish to improve and set about putting into action a game plan to make small, consistent, incremental changes in that area. This always works better if you have a coach or a mentor who can monitor your progress against the goal you have defined (note that this requires that you have a defined goal) and can help you make adjustments or mid-course corrections along the way.
Something else that should be obvious from looking at that stack of numbers is that it takes a looooong time before you really see any results from your efforts! However, if you work hard at what you are trying to improve on, invest time with your mentor so you are also working smart, and do that consistently day after day over time your results will absolutely blow you away.
Trust me, this is not something I came up with on my own and is not something I have mastered yet. I have a long way to on this... most days it feels like I'm still in the first week of that 30 day cycle. But, I am making a concerted effort to read good books daily, at least one chapter each in two or three different books each day. I'm listening to several audios each day from people who have the results I want, great marriages, financial independence, the ability to give what they feel is appropriate to causes or charities rather than just what they can spare, etc. I still have to get better at reaching out to my coach on a regular basis so I can get quicker feedback on things that are taking me off-track and I have to get better at going out and doing the work he recommends on a consistent basis.
The really cool thing about all this is that you don't have to be anybody special to do any of this. Anybody can do this if they choose to... IF they CHOOSE to. If they choose to they can, over time, be "somebody special" to everyone else. I intend to continue to work at this the rest of my life. In the process, as long as I am consistent, I will eventually be considered "somebody special", not because I really will be, but rather because I have chosen to do the things that most people are unwilling to do.
So, since I teased you with the thought of a penny doubling over 60 days here's how that would work out picking up on day 31...
$16,106,127.36
$32,212,254.72
$64,424,509.44
$128,849,018.88
$257,698,037.76
$515,396,075.52
$1,030,792,151.04
$2,061,584,302.08
$4,123,168,604.16
$8,246,337,208.32
$16,492,674,416.64
$32,985,348,833.28
$65,970,697,666.56
$131,941,395,333.12
$263,882,790,666.24
$527,765,581,332.48
$1,055,531,162,664.96
$2,111,062,325,329.92
$4,222,124,650,659.84
$8,444,249,301,319.68
$16,888,498,602,639.40
$33,776,997,205,278.70
$67,553,994,410,557.40
$135,107,988,821,115.00
$270,215,977,642,230.00
$540,431,955,284,459.00
$1,080,863,910,568,920.00
$2,161,727,821,137,840.00
$4,323,455,642,275,680.00
$8,646,911,284,551,350.00 – This is quadrillions by the way… just saying… not a bad return from a penny just 60 days before…