In Momentum Complete Agent Development classes, we have seen an example of the cost of wasting one hour of productive time every day. It shows that by wasting that one hour of opportunity costs five times a week over 48 weeks amounts to 240,000.00 in lost possible revenue had it been used for vital business activities.
Think of the hours you dedicate to your business each day.
1. Are you getting the most of them?
2. Are you consistently operating at your highest and best use?
3. Do you know your highest and best use of your time?
The 8th Wonder of the World is compounding interest, be it return on your money or your time. The good news is once in motion, it will work for you; the bad news is it will just as effectively work against you.
To see that power, there is an old story you may have heard before, but have you seen the math?.
If I were to offer you a job to work for me for 31 days and offered two different options for your compensation, the first choice is one penny doubled every day, the second 100,000.00 flat salary for that 31 days work. Which would you choose?
Obviously, one would be work 31 days and you get 100,000.00.
The penny doubled scenario would work as below:
1 penny = .01
2. = .03
4. = .07
8. =.15
16. =.31
32. =.63
64. = 1.27
1.28. = 2.55
2.56 = 5.11
5.12. = 10.23
0.24 = 20.47
20.48. = 40.95
40.96. = 81.91
81.92. = 163.87
163.84 = 327.71
327.68. = 655.39
655.36. = 1,310.75
1,310.72. = 2,621.47
2,621.44. = 5,242.91
5,242.88. = 10,485.79
10,485.76. = 20,971.55
20,971.52. =. 41,943.07
41,943.04. = 83,886.11
83,886.08. = 167,772.19 (24 days)
167,772.16. = 335,544.35
335,544.32. = 671,088.67
671,088.64. = 1,342,177.31
1,342,177.28. = 2,684,354.59
2,684,354.56. = 5,368,709.15
5,368,708.12 = 10,737,418.30
10,737,418.20. = 20,474,836.50. ( 31 days)
This is why most people over estimate what they can do in a year, but greatly underestimate what they can do in five years. Think of this the next time you're not working in your highest and best use of your time. Think of it this way, if you don't want to make 15.00/hour-- quit doing 15.00/hour work and make compounding your friend.
Think if you simply take one new skill from one of the Momentum classes each time and apply it, the compounding effect would change the course of your life.
Think if you simply take one new skill from one of the Momentum classes each time and apply it, the compounding effect would change the course of your life.
