I wrote about compounding a few months back. For compounding to really happen, it needs 3 simple things –
- Discipline – Discipline of being at it. Iterating, learning as you go along with not breaking the rhythm.
- Patience – Keeping faith that over long period of time – system thinking works.
- Perseverance – For those days, weeks, and months when everything is going wrong and you need sheer grit to go through the routine. Its important to remember that in most cases – its sheer survival through the most difficult times that increases your odds of success.
Every day you make a deposit in the bank, you give yourself a chance to cash out on a later date with better returns. Like – eating healthy ( making deposits) consistently for 6 months allows you to go on trip to Goa and be a glutton for a week spent with friends. Exercising everyday consistently for 2 months allows you to ( make a withdrawl) and drink your guts out.
or When you literally deposit in the bank for 6 months straight, you are able to buy yourself a vacation. This pretty much applies to everything that you want to be doing in the long run. Health, wealth, relationships – always make a small deposit. Regularly. Even better – if you can do it daily.
I am a founder of iZooto, a leading audience marketing platform, where I manage all things Marketing. I enjoy cycling and reading. I love conversations about building new products, software and mobile.