.How to Use the Compounding Technique to Reach Success

How to Use the Compounding Technique to Reach Success

By Sim Campbell

Imagine this: a wealthy man gives you two choices. He will gifts you a million dollars in liquid cash right now…or a penny doubled every day for 30 days. Which one would you choose?

“I’d take the million…gimme, gimme, gimme!”

I can see you salivating right now. But…not so fast.

Wouldn’t you rather consider the penny?

“C’mon. It’s just a penny.”

Ah… that’s where you’re wrong.

It’s just a penny – but that’s all you usually start out with. If you took the choice of the penny doubled every 30 days, you’d be a multi-millionaire at day 30. To the tune of 10 million dollars to be exact. Do the math if you doubt it.

“But that’s not possible!”

But it is possible. It’s the only thing that’s possible. It’s the slight edge.

The Subtle Power of the Slight Edge

The book The Slight Edge by Jeff Olson describes how small, seemingly insignificant choices have a massive impact on us down the line. He uses the example of the penny to get his point across sharply.

Continuous actions over time lead to vast advantages…or disadvantages. This “edge” is the differentiating factor between those who blow life wide open and those who find themselves getting tossed about like a leaf in the wind.

You see, our actions don’t occur in a vacuum. They build upon past actions of a similar nature.

You start with one. One becomes two. Two becomes four. So on and so forth. It gets easier to build off of a foundation.

This is how habits such as discipline are created.

Because of this…the slight edge is great! But – it works in the opposite direction as well. If you indulge in bad habits and self-destructive behavior, you will find it easier to do those things over time.

Your successes and failures compound on each other.

But here’s the thing: this is so subtle. By the time you realize what has happened – your results are already evident.

This is why success is not an accident. Sadly, failure is not an accident either. In fact, they’re separated by a fine line. The line is what you do or fail to do consistently over a given period of time.

 The Importance of the Slight Edge

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