By Charles Alvarez , Contributor, the Price of Business Show. * Sponsored
The 1,000 percent formula is based on the discovery that it is possible for you to increase your income by ten times over the next ten years. Most people are incredulous and amazed at the very idea of doubling their income over the next ten years, much less increasing it by ten times. However, I have shared this formula with people all over the world. I have never had anyone come back and tell me that it didn’t work. If anything, this formula is conservative, as you will see for yourself.
One tenth of 1 percent is an improvement of 1/1000th in your overall effectiveness and efficiency in the course of a 24- hour day.
Is it possible for you, if you really wanted to, if you were determined to, to increase your overall productivity and performance by 1/1,000th in a 24-hour day?
You will have to admit that 1/10th of 1 percent, or 1/1000th improvement over the course of a day is not very much. In fact, if you were just to plan your day a little better and concentrate on your highest value tasks a bit more, you would probably increase your productivity by 50 percent in a single day, rather than less a mere 1/1,000th!
If you increase your productivity, performance, and output by 1/10th of 1 percent per day, five days a week, and you don’t improve at all on the weekends, you will improve by approximately 1/2 of 1 percent per week. This is a 1/200th improvement every five days. Again, could you do this if your life depended on it? What if your future depended upon it? Of course you could!
If you increase your productivity, performance, and output by 1/2 of 1 percent per week and you do this every week throughout the year, at the end of the year, even without the compounding effects that will occur, you will be producing 26 percent more than you were twelve months earlier. Is it possible for a hard working, determined, ambitious individual like you to upgrade your productivity, performance, and output by 26 percent over a one-year period?
The fact is that you could probably do much better if you really wanted to. But 26 percent over the course of 12 months, one day at a time, is eminently achievable. This is the principle of continuous improvement in action.
Every improvement in one area leads to small improvements in other areas. Very much like the miracle of compound interest, as you get better and better in some things that you do, you seem to get better in other things as well.
A 26 percent improvement each year, compounded, would lead to a doubling of your productivity, performance, and output in less than three years and an increase of 1,004 percent in your productivity, performance, and earning ability in ten years.
Some years ago, in Portland, Oregon, I shared this formula with a group of young salesmen. Seven years later I was visiting Portland again and one of those salesmen approached me. I still remembered him. He said, “Charles, I have been practicing your 1,000 percent formula every day, without fail, for seven years. And it doesn’t work.”
I asked him, “How do you mean?”
He smiled and with great delight he told me, “It didn’t take ten years to increase my income ten times. It has only been seven years. As of this February, my income was ten times what it was when you first taught me that formula.”
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