Compounding
This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…
What is “Compounding”?
“Improve by 1% a day, and in just 70 days, you’re twice as good.” — Alan Weiss, management consultant and author of Getting Started in Consulting and Million Dollar Consulting
Key Points:
- Compounding is the Accumulation of gains over time.
- Compounding is important because it creates the possibility of huge gains in a short period of time. By reinvesting the revenue your business generates over and over, you can multiply your original investment many times.
- Accumulating gains will produce huge results. The trick is to be patient.
Questions for Consideration:
- Are you reinvesting your returns?
- How quickly is your investment growing?
- How can you take advantage of the magic of compounding?
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