One step. Two step. Three step more. Get what I am trying to say?
at a time. It’s called the Compound Effect.
The compound effect is based on this simple idea; slow and steady wins the race. It’s the principle by which you will reap huge rewards through a series of small and smart choices.
The compound effect is not a new phenomenon. As the saying goes, Rome wasn’t built in a day. If you ‘live in the moment’, you may struggle with this as the moments can be painful. If you are a forward thinker, you’re golden. A past dweller…I won’t even go there.
The compound Effect, written by Darren Hardy self made millionaire by age 27, publisher of SUCCESS magazine and a leader in the personal development industry for over 16 years, is a product of the principles he reveals in his book. He states that, although the steps in the moment feel insignificant, the results are massive. The general population is just too impatient. Look at the health club and diet industry, especially in January. In banking we all believe in compounded interest, why can’t we believe in compounding our efforts, our daily disciplines and tasks, to build our own personal success story? I’ll tell you why. It’s just too painful for some of us and the results aren’t immediate.
What is a fairly new phenomenon is the ‘microwave mentality’. We all want insta-results. Text messages, high speed internet, one hour glasses, 30 minutes or it’s free, drive through, fast food, boil in a bag dinner, the overnight success. Ya right. This is where age trumps youthful. Time.
The younger generation are born into the microwave mentality. My kids actually get mad when they have to wait 3, maybe 4 seconds longer for their text to arrive in their in box. Show them a dial phone and they think it’s an antique. What’s a busy signal? You mean I have to wait for someone to get off the phone? I shouldn’t just pick on the younger ones, we all have gotten used to the immediate gratification…and it better be good syndrome.
How does this apply to building a business? If it doesn’t happen as quickly as scanning our 649 ticket, forget it. It just won’t work. I can’t do it. I am not good enough. She’s better than me. Pass me a tissue please.
Building a business is a process. A slow one. Depending on how hard you work at it. But it’s still a process that compounds over time and builds a momentum that sometimes can’t be stopped. With the step by step approach, the changes are so subtle, they’re almost imperceptible. That’s a good thing! Just ask Martha.