Read This…
ShareI was reading a book called “The Compound Effect” by Darren Hardy, and he explained something that I have not been able to forget about since, and felt it important to share with each of you. In his book, Darren says:
“If I were to give you the choice between taking $3million 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 gambit is the choice you should make…yet why is it so hard to believe choosing the penny will result in more money at the end?
Let’s take a closer look…on day Five your friend has sixteen cents. You however have $3million. On day Ten, your friend has $5.12 versus your big bucks…after 20 full days, with only 11 days left, your friend still only has $5,243….then the invisible magic of the compound effect starts to become visible. The same mathematical growth improvement each day makes this compounded penny on day Thirty-One, more than three times your $3million.”
I should interject at this point and say, whilst I was impressed by this – it is not anything new to me, and I had heard about the power of a penny before – it was however this next paragraph than drove home something new to me, and made me realise this most important part of this message that I had been missing for years:
“In this example we see why consistency over time is so important. On day Twenty-nine, you’ve got your $3million; your friend has around $2.7million. It isn’t until day Thirty that your friend pulls ahead, with $5.3million and it isn’t until the very last day of this month long ultra marathon that your friend blows you out of the water; they end up with $$10,737,418.24 to your $3million.” (‘The Compound Effect’, Darren Hardy, ©Success Media, 2010. p10-11)
The message here to each of us, is that the greatest work is done towards to the end. How many would give up after 10 days, 20 days or even 29 days regretting the decision to not take the $3million and run? As leaders of That Free Thing, each of you has the power, drive and ambition to reach day 31 in your own goals, and celebrate the journey; working together we can accomplish it.
Here are some steps you can compound the penny effect of your own efforts to your teams:
1) Have EVERYONE that you would like to enrol register www.liveonlinewebinar.co.uk
2) Attend the webinars and conference calls http://thatfreething.com
3) Enrol people yourself, and let your team see you walking the walk. Nothing is as powerful a motivator as an example.
I look forward to hearing your success stories and seeing each of you at the webinars!
Best wishes
Shaun
