We often overlook opportunities for growth because they seem small or insignificant. But as the example of exponential growth shows, even a tiny amount can lead to huge results over time.
To realize this potential, we need to be open to change and willing to experiment. This means trying new things, even if they seem unimportant at first. By doing so, we can create the conditions for success and set our businesses up for long-term growth.
Here’s an example. Let’s say that you start an investment bank account with an opening balance of one cent.
Just a single penny. Yes, we know, what bank would accept that? Indulge us for a moment.
Okay, now, every day for one month, make a deposit that doubles what’s in the account. So, on day 1, you add 1¢ for a total of 2¢; on day 2, you add 2¢ for a total of 4¢, and so on.
Simple, right? Even silly. And yet, after just two weeks, or 15 days of doing this, your account would hold $163.84. Big whup, you say. But keep doing it for another 16 days, for a total of 31 days, and now (drum roll, please) your balance is a staggering $10,737,418.24. That’s right: nearly $11 million.
That’s the power of exponential growth.
If you’re looking to grow your money exponentially, then you need to understand the power of exponential growth. With just a small amount of money to start with, you can see your funds grow rapidly by taking advantage of compound interest. In just 31 days, you could turn a penny into over 10 million dollars!
Okay, so you’ve probably already figured out that to add more pennies to your bank account every day, eleven hundred million pennies have to come from somewhere. If you had them to begin with, you wouldn’t need the exercise!
So, where do those additional pennies come from?
Think about how many times you’ve seen a penny on the sidewalk and just bypassed it. What’s your threshold for picking up small changes? Will you pick up a nickel? A dime? Will you pick up a quarter? Do you just dump your coins into the tip jar at the coffee bar to save yourself the trouble of putting them away? A lot of us ignore small changes because we don’t have time for it. We’ve already got big bills in our wallets, so we don’t sweat the small stuff.
But what if we told you that there are hundreds, thousands, and even millions of small things in your business that you’re stepping over because you don’t think they could be valuable? Just like those spare coins on the sidewalk, these small things add up. And once the momentum gets established, your return will quickly surpass your initial investment.
This should give you an idea as to why most businesses are essentially stagnant: they think they’re too big or important to collect the money that’s lying at their feet. But if you’re willing to put in the work, you can change that for your business.
Still think you don’t have time for the small stuff.
Here is the small stuff that businesses usually ignore:
- emotional connections,
- employee engagement,
- employee retention, and
- impact on our communities.
These are the basis of what we’ve identified as the 5 Disciplines for Exponential Growth.
You can achieve optimal success in your business by making even a modest investment in yourself and your company. If you’re willing to commit to exponential growth, you can make a real difference in the marketplace. So don’t overlook the small things that can have a big impact on your business. Make the investment today and see the magic happen tomorrow.
What has been your experience with the small stuff of running a business? Have you or those you work for willing to make a modest investment in the company to help achieve exponential growth? Have there been examples of where this worked? Thank you for reading!