Ep. 28 - Small, Consistent Steps = Asymmetric Returns
Making changes is challenging. Humans are notoriously brutal at altering habits and actions. We get caught up in the mundane minutiae of everyday life. For the most part we run on auto-pilot. Hence, everyone is wondering ‘where did September go??’
This is a common theme when I speak with clients, business owners, or friends and family who would like to make a change. They just don't know where to start. The conversation inevitably shifts to a discussion surrounding massive change and action. They often immediately jump to conclusions and believe they need to upend their current strategy, career, or current way of life. An overhaul if you will. However, this doesn’t need to be the case.
What if we just made minor changes, but did them everyday?
Small, consistent actions compound
Let’s use an example that many businesses struggle with - website engagement and traffic. Businesses are always looking to drive more traffic to their website, or their physical storefront. It’s ultimately how sales are made (99% of the time). When I speak with clients about this the conversation immediately turns to outside specialists. Hiring a public relations firm, or bringing on a ‘social media guru’ to drive more traffic are their first thoughts. This could potentially cost thousands with no immediate benefit. Heck, you don’t even know if this is the right traffic coming to your website (or store, profile, etc.)
Instead, I always recommend starting small and staying consistent. For example, start a blog that your audience will benefit from. Post unique and personalized content for your niche. Involve more of your staff in the process - there could be hidden gems waiting for this opportunity. Basically, create value everyday.
Starting small limits our downside risk. Less upfront capital and time investment, and more organic and authentic content.
Another quick example is exercise. Instead of hiring a personal trainer five days a week, why not start with going for a walk everyday? Or doing home workouts for 20 minutes daily? This creates less barriers to entry, low upfront investment, and an opportunity to determine what works for you.
It's difficult to create momentum with large swings everyday. It creates volatility, and humans handle volatility extremely poorly. Just start small, and let your choices compound.
Taking the first step
So how do you start? Well, let’s say you determined that in order to drive more traffic to your website you will begin blogging - creating content that is specifically geared towards your niche. So, you sit down and begin to write. You fight through the Resistance. The first few blog posts may gain no traction. But, staying consistent, starting small, and learning from engagement will lead to sustainable results.
The Caveat: Consistency is not one week, one month, or one year. It's multiple years. Use the 1,000 day rule and put in the work.
This creates sustainable results. You don't want to be relying solely on Facebook ads to drive traffic, because as we saw this week they won’t always be there…
Allowing small actions to compound will provide time to pivot, time to figure what really matters, and time to determine true needle movers. It doesn’t need to be fancy, flashy and expensive to work. It just needs to work.
Stopping the slide
The same goes for the other end of the spectrum. Just as small good decisions can compound, so too can small bad decisions. These can creep into the organization or your personal life without even realizing it. They can come out of nowhere because they are small, until they’re not.
Stay diligent. Stop the slide. A 'guideline' I created at Elevate Financial is this - don’t let bad days compound. One bad day happens. Two back-to-back? Not a chance. We stop the slide before it starts.
Let the small decisions compound in your favour. That is how a sustainable business and life will grow. To steal from Jim Collins, this is how you’ll be ‘Built to Last’.