This is the first of several blogs where I’m reflecting over my own life and seeing where I can make a change. There is so much in this book, The Compound Effect, which is why I’m revisiting and reviewing my highlights about every two months.
Have you ever been asked the question, “If I offered you three million dollars in cash right now or a single penny that doubles in value every day for 31 days, which would you choose?” It’s back to instant gratification. Many people see $3 million in cash and that’s all they can see. They don’t think any further. If you haven’t already guessed…the penny is the right answer.
Imagine you’re the one who chose the $3 million and a friend takes the penny. Watch this:
Day 10 You: $3 million Friend: $5.12
Day 20 You: $3 million Friend: $5,243
Day 29 You: $3 million Friend: $2.7 million
Day 30 You: $3 million Friend: $5.3 million
Day 31 You: $3 million Friend: $10,737,418.24 ( 3 times more)
“Very few things are as impressive as the ‘magic’ of compounding pennies. Amazingly, this ‘force’ is equally powerful in every area of your life.” The Compound Effect.
I find it fascinating how the key to having success in any area of our lives even with our relationships, is the lack of consistency and that instant gratification expectation. Haven’t we all made New Years Resolutions only to realize two, three, or four weeks later, we’re back into our old ways once again? We aren't seeing the weight lost, avoiding junk food or fast foods, we’re back to listening to the nightly news at the end of the day and the list goes on and on. The excuses and the blaming (Jim Britt’s nonresourceful concepts) begin so we can justify why we aren't doing something. However, I agree with Darren Hardy when he states, “with enough time and consistency, the outcomes become visible. Better yet, they become predictable.” Just like the penny analogy. It wasn't until day 30 of the 31 where your friend made more money and the very next day it was THREE TIMES the amount of the $3 million.
The time for the penny was only 31 days. What about your health? Your financial freedom? Your relationships? How long are you willing to make the small, smart choices consistently, over time to have a radical difference? “The beauty of the Compound Effect is that we have to keep working away for awhile, consistently and efficiently, before we can begin to see the payoff.
Then there’s complacency. We may get to a certain level of success and we become too comfortable. “We can experience extended periods of prosperity, health, wealth, our marriage is doing great… We stop doing the things that got us to that point.” It’s gradual and can go unnoticed until there’s a problem. We notice the scales show an additional 5 or 10 pounds, we have credit card debt, there’s more conflict with our spouse. The excuses and blame creep in once again. We’re back to our microwave mentality.
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