RSS

SUNDAY TAKEAWAYS

02 Jun

362 Compound Choice

Today, The Compound Effect by Darren Hardy, an easy to read book providing great reminders that the little things do matter AND “slow and steady can win the race.”

The book is about success based on the Compound Effect, the principle of reaping huge rewards from a series of small, smart choices.  Whether you use the strategy for improving your health, relationships, finances or anything else, the changes are subtle, almost imperceptible.  Yet it is these small, seemingly insignificant steps completed consistently over time that will create a radical difference.

So, if it is so simple why do we not all do it?  Basically because it takes so long to see the payoff, we fail to gain momentum and we give up too quickly.  We are surrounded by instant fixes, instant cure-alls!

Here’s an example for you to ponder this long weekend:

If you were given a choice between taking $3 million in cash this very instant or a single penny that doubles in value every day for 31 days, which would you choose?  If you’ve heard this before you know the penny is the choice you should make, you know it’s the choice that will lead to greater wealth.  Yet think about it …

Day Five – your friend has 16 cents, you have $3 million

Day Ten – it’s $5.12 v. your big bucks.  You’re loving life.  How do you think your friend is feeling?  Twenty days gone – $5243 is all your friend has to show for her sacrifice and positive behavior.  You have $3 million.

On Day Twenty-nine the amounts are comparable, your $3 million v. $2.7 million.

Then on Day Thirty the Compound effect kicks in as she pulls ahead with $5.3 million.  Day Thirty-one, the last day of the challenge, she is streaks ahead with $10 million plus to your $3 million.

This is the Compound Effect, a principle that can work equally effectively in every area of life.

Well worth a read.  Penny for your thoughts!

Image credit

Advertisements
 
Leave a comment

Posted by on June 2, 2013 in Sunday Takeaways

 

Tags: , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: