We live in a society where most of us want instant results and instant gratification. We look for “get rich schemes” and try to find the magical formula to success. Studies show that a proven way to make real change and produce results is using the “compounding effect”. What’s that?
The compounding effect is the idea that the small decisions you make daily will build over time. Author of “The Compound Effect” Daren Hardy explains it this way “It’s the principle of reaping huge rewards from a series of small, smart choices. Success is earned in the moment to moment decisions that in themselves make no visible difference whatsoever, but the accumulated compounding effect are profound.”
Here’s an example: Imagine if you decided to start a business or invest in the stock market. If you dedicated just one hour a day to this new goal you would have invested 365 hours after a year! After 5 years that would be 1,825 hours that you’ve worked towards building an extra income source.
Larry Bird (Celtics NBA Hall of Famer) was obsessed with improvement. He would get up early in the morning to shoot 500 free throws every single day. Because of his daily consistency, he has one of the highest free throw percentages of 88.6%. Now he’s a 12-Time NBA All-Star, 3-Time League MVP, 3-Time NBA Champion, and NBA Hall of Famer.
This is the compounding effect at work. The hours of practice each and every day compounded year after year.
Jerry Seinfeld, one of the most successful comedians of all-time was still making $85 million dollars per year in 2008 (in 1988 his worth was nearly $276 million). How did he become one of the most successful comedians and actors of his generation while hundreds of comedians were failing?
When someone asked him what his secret was, Seinfeld responded “Write Every Day.” He practiced his craft every day, writing every single day and staying consistent.
There’s no hidden secret. No secret sauce or secret formula. It’s a simple idea, but not easy to do. It’s easy to break momentum, it’s easy to skip a workout and it’s easy to miss a day. That’s why so many people don’t see results towards things they want to accomplish.
Everyone has the same 24 hours, and it’s up to you to choose where they get spent or invested.
MAKE TODAY COUNT.
Below is a PDF of the Book “The Compound Effect” by Darren Hardy