Jack Butcher+ Your Authors @jackbutcher Unemployed. Working on @visualizevalue. Sep. 04, 2020 1 min read + Your Authors

The Eighth Wonder of the World: (thread)

1/

"Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it." — Albert Einstein

It affects:

Your health
Your money
Your relationships
Your reputation
Your abilities

2/

Take this legendary exchange from Hemingway's The Sun Also Rises:

“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually, then suddenly.”

3/

Most of us haven't been patient enough to benefit from compound interest, and substitute our lack of personal experience for a lack of belief in the concept altogether.

The reality, however, is that many give up before compounding kicks in meaningfully.

4/

Underestimating the power of network effects when you're building on the internet is a massive blindspot.

Here's a real example from the @visualizevalue business:

5/

A year of network building on the front-end, leveraging personal conversations into paid consulting and design gigs, while building up equity that can now be extracted as dividends via product sales (12 months later).

6/

Had we attempted to sell product out of the gate without building reputational equity, there's no chance we would've seen these results.

7/

This is one of 40 guiding concepts I've leveraged to build an independent, high-margin, digital business.

For the other 39, have a gander at this:

 https://bit.ly/33OXCVv 


You can follow @jackbutcher.



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