The Power Of The Compound Effect!
Einstein said, the eighth wonder in the world is Compound Interest. He stated “He who understands it, earns it; he who doesn’t, pays it.” While compound interest is a phenomenon in the financial world, a similar phenomenon exists in the real world, called the compound effect! It is a huge force and can drastically change your life for the better or worse.
Simply put, compounding means that in your daily life you may do a lot of actions that may not lead to immediate results, however after a long time, sometimes years later, they start producing drastic changes in your life which can either be good or bad, depending on the actions you took. You may think those actions made no difference, but whatever exponential changes you get later is because of those very same actions.
Initially it’s about pushing the boulder to uphill – Extreme effort with little result. But when the boulder reaches the top, a little push is enough for it to gain tremendous speed and destroy everything in its way! You may think it’s that little push that led to that result. But it is actually all your effort while pushing it slowly to the top that made it gain all the energy.
How to apply the compound effect? – First of all, figure out the right direction. Without the right direction, all action is useless. You can either learn it through experience, or a quicker way is to learn through mentors or books or training programs.
Secondly, once you have figured out the right direction, focus on your actions, don’t obsess about the outcome. Be fast and impatient with your daily actions but be patient with expecting the results The number one reason why people fail is because have it all reversed. They are too slow with the daily actions but want results overnight!
You almost have to develop a stoic, unemotional mindset where no matter what result you get, you commit yourself to making the daily actions no matter what. Sure, you keep learning and adjusting, but you keep pushing on despite the result because you have the confidence that you are largely in the right direction, even if you can’t see the destination.
Apply the stoic mindset in your business today, be relentless with your action and patient with expecting the result. Sooner or later, the compound effect will kick in and the rewards will come so fast that it will almost look like a miracle to everyone, except you, because you know what it took for you to get there!