How to Find Success: Take the Penny Test
December 3, 2017
Categories: Success
What would you do if I offered you one of the following two options?
- Take 3 million dollars right now.
- Take 1 penny on December 1, and double that amount every day for the month of December.
If you’re like most people, you probably did a little bit of math in your head, and took the first option. After all, on day 1, you only have 1 penny. On day 2, it’s 2 pennies. Then 4 (day 3), 8 (day 4), 16 (day 5), 32 (day 6), and 64 (day 7). Even at the end of 2 weeks, you would only have about 80 dollars. Taking 3 million right now seems like the safer bet.
If you follow the math all the way to day 31, however, you would realize that taking the penny option is better. Much better, in fact. By day 31, you would have over 10 million dollars. Here’s the tricky thing about the penny test: It takes a LONG time for you to see the return on your investment. You have to play the long game.
This is a silly example, but it highlights a principle that is very important for success in any area of your life: Small changes performed consistently over a long period of time lead to success.
This isn’t a sexy or popular idea. We want to get rich quick. We want rock-hard abs in 5 minutes per day. We want to get an A without studying for the exam. The problem with these strategies is that they don’t work. You might jump from one fad to the other, seeing little or no change in your life.
The alternative is less sexy, takes more time, and requires a lot more work. But it’s the only way to achieve lasting success.
If you want to make a lot of money, you have to learn a craft, work hard, and stick with it.
If you want to get in shape, you have to follow a diet and exercise plan, and stick with it.
If you want to get good grades, you have to develop good study skills and put in the time, consistently.
There’s no shortcut to success. Take the penny.
8 Comments
Leave A Comment
Subscribe To My Newsletter
Join my mailing list to receive the latest blog posts.
Receive my e-book “The Mental Health Toolkit” for free when you subscribe.
[…] away” that rings so true for us? I think there is a deep truth here we need to understand: Small, consistent efforts in the direction of our goals lead to success. Be consistent, and reap the […]
[…] you are trying to make a change in your life, the key is to engage in consistent effort for a long period of time. Most change efforts fail because people give up and quit too soon. It’s easy to go outside for a […]
[…] is key. When trying to improve something in your life, consistent effort over the long haul is key. So get in the habit of reaching out to someone every day. By engaging in this behavior every day, […]
[…] now (usually pleasure or relaxation) for what you want long-term. Most positive changes require hard work over a long period of time. This hard work isn’t often “fun,” like watching a movie or playing basketball. You have to […]
[…] The key is to stay consistent. Keep your eye on the prize—your want—and keep moving forward. Consistent effort day in and day out leads to […]
[…] my life based on how it is going today, or this week. This is usually too short a window, because meaningful progress usually takes a long time. It’s better to evaluate something in your life using a longer window. For example, what progress […]
[…] to how change happens in our lives. The reality is that changing anything is difficult and usually takes a long time. At first, it might not feel like anything is changing. This can be incredibly frustrating. It can […]
[…] challenging), but you haven’t yet seen the results of your change. The tough reality is that most meaningful change efforts take a long time for the results to show up. I might not start seeing the fruits of my labor until month 6, 9, or […]