Have you ever imagined the power of taking tiny but consistent incremental steps every day? Or have you heard or read about ‘the 8th wonder of the word’ by Einstein? Yes, the ones who know about this principle can never deny the importance of taking consistent-tiny incremental steps, i.e. how doing little more effort everyday might do wonders for them. So, what is ‘8th wonder of the world and how it could miraculously change everything for you if you start acting upon it:
This principle is about compound interest. In contrast to simple interest that remains consistent over the whole life of an investment, compound interest is when the amount of interest earned during a specified time period is reinvested and becomes part of the principal and generates additional interest i.e. compound interest is based on the principal amount plus the interest that accumulates on it in every period.
This principle is not limited to one’s investing career, this is a universal principle and this same principle could be leveraged to all walks of life in order to make remarkable progress.
Let looks into the maths involved:
If we keep track of the efforts made over the course of a year, then:
Making consistent effort = (1)365 = 1…. Normal effort, normal result
Little less effort = (0.99)365 = 0.03….. Little less effort, very poor result
Little more effort = (1.01)365 = 37.8…. Little extra effort, mind-blowing results
Also notice the difference between little less effort and little extra effort i.e. 1233 times or 123,333%
So, you see the power of a little more effort every day.
So, could you think of leveraging this same principle to advance your ideation journey? Committing to add a little more effort to your ideation journey could bring about wonderful results.
Looking back at the Einstein principle of compound interest, there are two things to consider: the frequency of compounding
& the rate of return
The more the frequency of compounding, the more would be the accumulated investment amount. As far as our day-to-day little more effort is concerned, if we consider it for a year, this means compounding frequency is 365 that actually makes a big big difference that we have already seen when we discussed the maths involved.
This is the magic of compounding that is not limited to investment and money, this is what you can adopt and apply to reach your goals in any field of life.
Adopt it today to advance your ideation journey, soon you would see your efforts being compounding. On the contrary, when you don’t make tiny additions in your efforts, you would see only normal results, or it would convert into a worst case scenario if you made a little less effort. The whole game revolves around little less and little more effort, the tiny more effort would advance your ideation journey to new heights and the tiny decrease might push you inside a hole where you could not find a way back even.
So, in our world not only money compounds but our thoughts, ideas, actions also do.
As ideas are the sum total of our thoughts, so if you want to advance your ideation journey, compound your thoughts, add little more thoughts to your existing thoughts every day.
Capture thoughts in an area where you are looking forward to ideate or innovate something. Capture experiences in that area regularly and add tiny more frequency to the capturing process, and you would see wonders in the near future. This is the secret formula to advance your ideation and innovation journey when you are busy enough and find it hard to have enough time to come up with unique ideas or move forward the ideas that you have already come upon. With this compounding formula, when you start making a little more effort every day, this little effort compounds, emerges as something big, new and innovative.
With this secret, you would no longer keep your ideas as notebooks piled up on the shelves of unique thoughts and designs that once clicked in your mind, rather you would work to make it a reality. And everyone must strive to transform their ideas to reality, otherwise these ideas that had ever come to us would die with us one day. Your unique ideas might be a cure to an acute disease, a perpetual energy source, or any idea that spurs the next levels of scientific discovery and might be waiting out there to be ideated, the need is to connect all of the details together that make up the idea. This journey can even be more convenient and fast with the help of an app like Innovation Control Tower ICT.
So, no matter how little is the addition in your daily efforts, when compounded daily would make a big difference for you. Do you commit to making a little more effort every day, compounding to something great for humanity that’s a reality of your dreams, too? Do commit! Because according to Einstein “He, who understands the power of compounding, earns it and he who doesn’t pays it”.
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