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The 1% difference
Thu, Sep 24, 2020
Consider short-term (across 2 days) incremental change:
0.99 * 0.99 = 0.98
1.00 * 1.00 = 1.00
1.01 * 1.01 = 1.02
If you operate at optimal levels (or one level lower or higher as shown above), you will get the corresponding output.
No surprise there. It’s just simple math.
Now, consider long-term (over 365 days) exponential change:
0.99 ^ 365 = 0.02 (Bad)
1.00 ^ 365 = 1.00 (Good)
1.01 ^ 365 = 37.78 (Great)
Operating at 1% lesser than the ideal level will cause you to lag behind the median.
However, just being 1% better daily will result in a 97% increase in output annually, which gives you a chance to pull away from the pack.
Takeaway
- Don’t blog just twice and give up. Blog (daily or weekly) for a whole year to see the real impact.
- Don’t be satisfied with just being good. Jim Collins wrote ‘Good to Great’ for those who are easily satisfied.
- Beat the best even if it’s by 1% in some area, and you could see a 97% increase in return in that aspect.
- Always aim for exponential, not incremental growth.
- Thank your Math teacher for teaching you these truths.
Which of the three equations represent your current operating status? Let me know.
Good is the enemy of great.
