No New Year's resolutions: Aiming to get 1% better
We wanted to wish our readers a happy 2021! 🥂 New years are the time for changes, and often changes are drastic. They require deep decisions and extreme improvements-- many times, resulting in complete overhauls of companies.
What’s often forgotten is the power of compounding change, and how it pushes organizations to achieve the impossible. It might be slow at first, but eventually, small changes add up.
One of my favorite books, Atomic Habits (by James Clear) puts it aptly: “Improving by 1 percent isn’t particularly notable—sometimes it isn’t even noticeable—but it can be far more meaningful, especially in the long run. The difference a tiny improvement can make over time is astounding. Here’s how the math works out: if you can get 1 percent better each day for one year, you’ll end up thirty-seven times better by the time you’re done.”
What’s more frequently successful is also easier: small but consistent progress is a reliable means to reaching a massive end-goal. It breaks a behemoth goal into small, easily-attainable steps that can be tackled on a week-to-week basis.
Instead of setting out to double your customer lead list in twelve months, agree to grow your list by 5% each week. Sure, some weeks you may not meet the mark. Other weeks you may wildly exceed your expectations. Either way, it’s a whole lot better to internalize your progress along the way, instead of hoping a plan will pan out and only finding out when it’s too late.
So for 2021, rather than making any drastic or extreme new changes in your business or investment techniques, resolve to get 1% better everyday, and watch the changes compound. We find this sustainable approach to change pays off in the long run.
We would like to thank James Clear for his inspiration.
This article is a collaboration between Archit Bhise and Grant Sobczak.