The Compound Effect: Small Gestures That Reap Big Rewards
Have you read or heard about The Compound Effect book by Darren Hardy?
Years ago someone suggested I read it, and the message made so much sense that I continue to refer to the concept over and over again in my personal and professional life.
Here's how Mr. Hardy describes the concept of The Compound Effect: “The Compound Effect is the principle of reaping huge rewards from a series of small, smart choices. What’s most interesting about this process to me is that, even though the results are massive, the steps, at the moment, don’t feel significant.” – Darren Hardy
Seems simple right? Too often we're so caught up in wanting everything right now that we miss how much progress we're making when we keep moving towards a goal. The idea of baby steps just isn't fast enough for our “instant access” attitude.
The Compound Effect Continued…
Don't get me wrong; I struggle with my “instant access” attitude daily. Too often I'm wondering why it's taking me so long to get my business to a particular benchmark I set for myself. And yet people tell me all the time how they can't believe how much I've grown in a short time and in my mind, I'm thinking, “Oh, if you only knew how painfully slow it feels to me.”
The other side effect of this “instant access” attitude is too often people wait until they have all the steps perfectly laid out before they're ready to get started. You might be surprised at how many times people tell me they want to wait to learn selling skills until their website is complete, their signature talk is perfected, their opt-in offer is ready to launch, etc. As if, once these things are done people will be flocking to them wanting to be sold to.
Now of course like anything, learning selling skills takes practice and practice takes time. I purposely teach my Savvy Selling class over the course of 5 weeks. This way people have time to digest and begin trying out what they're learning each week before moving on to the next topic. And even then, there is still time-release learning happening for months and sometimes years to come.
The important thing that ultimately makes a huge difference is continuing to move even when that movement feels minuscule.
The Compound Effect Continued…
Here's an example applying to learn how to ask for the sale as the context: imagine inviting one more person to work with you this year and that person saying yes. Next year, you invite two more people to work with you, and they say yes. Applying the compound effect, the following year it will be four more customers. By the time you reach year 8 in business, you'll have 96 more customers than you would have had had you not invited them to work with you. What would 96 more customers do to your bottom line? For most entrepreneurs, this would be significant.
You can apply that same example to anything in your business or your life. It's the small steps that ultimately reap the huge rewards, you've just got to be willing to keep at it. Too many of us give up or never get started because we think we have to be an overnight success. Years ago, my friend Lauren said to me, “It's a long hard road to become an overnight success.” And as I approach my third year in business, these words ring true.
Your Savvy Sales Tip this week: The Compound Effect
Be willing to take even the smallest action each day to move you towards your goal. When you look back in a month, a year, or even five years from now, you'll be able to see your progress even if you can't see it today.
And if there is something you're putting off doing because you're waiting for everything to be perfect, you're standing still, and it's time to get moving. You can make adjustments along the way, and course-correct when needed.
Wishing you continued success in all you're doing.
Agree? Disagree? Have additional comments or thoughts on this article? Please share.