If you were approached by someone who offered you one million dollars to walk away with right then and there or to take one penny now and double the worth every day over the course of a month, which option would you choose? Most people would be quick to jump to the immediate one million dollars and carry on with their life. But if you sit back and really think about it, taking the one million dollars upfront is not the best option. As it turns out, taking the penny and doubling its worth over the course of a month is the better deal. The worth of a penny doubled every day for an entire month is worth more than ten million dollars. It’s simple math really.
Accomplished businessman and successful author, Darren Hardy, calls this idea the compound effect. It’s the idea that instead of jumping the gun and taking the one million dollars immediately, waiting out until the end of the month leaves you with more than ten times what was offered to you in the first place.
Now, you may be wondering how the compound effect relates to you and your life. Well think about it, acting prematurely, impatiently, or unintentionally with the decisions you make in business and in life shortchanges you from achieving your long-term goals and dreams. Instead of approaching life with an instant gratification mindset, adopting an investor mentality is the momentum you need to reach your full potential. Settling for average cheats you out of achieving the extraordinary.
True success is only achieved over time as a product of thoughtful, small actions that when added together make a big impact. If you make small decisions to do better and be better each day, they will result in the kind of outcomes your future self will thank you for. Thinking big picture now reaps the biggest rewards later because success doesn’t happen overnight. Success requires intentional decision-making, dedication, and vision. So you have to make sure to dream BIG and work each day to be your best! It’s as simple as that.
So how do you get the compound effect going in your business and in your life? Well, to double the penny in your business or in your life, first you must become the penny. You must Be The Penny! You must become something that will create a positive result when duplicated. If you treat people with respect and have good habits and duplicate that, you will get good results!
We have found that so many people these days are “trying to find themselves.” But never forget that you are always on a path to becoming someone better than the day before. There’s no use in trying to find yourself when you already are someone worth being. You are in the driver’s seat of your life and who you are becoming. The challenges and circumstances in life shouldn’t control your mindset and attitude. Life is challenging, but it’s how you choose to respond to those challenges that will define you and your results. Always remember that you are in control of who you are and the difference you make for others. It’s really not about finding yourself––it’s about choosing to build yourself and your life into what you want it to be! And that journey begins with you making a decision to Be The Penny!