Whether you know it or not, the compound effect has been quietly chugging away in your life and business since the beginning. What does that mean? Well, it’s like compound interest… a little bit adds up to a lot over time.
When you get conscious about applying that strategically, it means that seemingly insignificant decisions and actions can create some really huge rewards. For example, if you’re a fancy latte drinker at about $6 a pop daily, when you skip that latte, you save yourself more than $1,500 in a year. If a plane is headed just one percent off-course when it leaves Los Angeles for New York (and does not course-correct), it will end up in Delaware. If you walk the stairs for 30 minutes for three days a week (assuming you weigh around 185 pounds), you could lose a pound a month; increase that to 60 minutes four days a week, you could burn a pound every ten days. If you cut 200 calories out of your daily intake on top of that (which is about a donut a day), you could lose a pound a week.
The point is that, by following through on the small things, you get big results. By accelerating the small things, you get even bigger results faster.
You can already see that one of the factors for making the compound effect work for you is that you have to measure what you’re doing. You just can’t know success unless you know what you’re aiming for and what you’re doing to get it.
You also have to be 100% accountable and responsible for what’s happening in your business. Did a deal slip through the cracks? That’s on you. Did a team member get lost in the process and miss a deadline? Yep, that’s on you too. Why? Because you need to set up fail-proof systems, provide training and then make sure each team member has support in their follow-through.
Another ‘law’ of the compound effect is consistency. You cannot activate the compound effect when you have a one-shot or spotty execution on an activity. (One day without a donut won’t make a difference. Believe me – I know many who have tried that one!)
The compound effect is not about your big vision, or your major pivot points, or any life-changing decision; instead, it’s about the small decisions you in the everyday choice points that you probably don’t even think about in the moment. Should you push through and make those extra five calls today? Is it time to hire a personal assistant? Should you walk the stairs an extra 30 minutes? Should you attend that networking event, send that text, follow-up with the person you met last week? These are the choices that can change everything. And we are often sleepwalking our way through them, or procrastinating on them, or something – anything – gets in our way or takes our attention elsewhere.
There are only a handful of things that should get precedence over what you know is the right thing to do for your business – your higher power, your health, your family and anything concerning blood or bodily injury. That’s about it. No other excuse will do when it comes to doing the right thing for your potential and current clients and referral partners. Your success depends on, and is the result of, that perspective.
What small things have you been putting off doing in your business? What choices are you making unconsciously that are limiting your business growth? What little things could you be doing different every day that could get you a little more momentum (and gain speed) toward your business goals? I want to know so I can see you being successful with them from this point forward – Let me know here.
Carl White, Chief Officer of Coolness
Article Originally Posted on LinkedIn
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