The Basic Concept of Exponential Growth
When you use the basic concept of exponential growth to your advantage, it doesn’t take very much progress in any one area to see big results. Today we expand on this whole idea of increasing your email list and therefore increasing your bottom line in a few different ways and tie it all back into setting goals and business planning in general.
The idea is to make progress on your goals and stack them in a way that gives you leverage. Here’s an example. Let’s say your first goal is to grow your current part-time income by $500 a month so you can quit your day job. So you come up with a plan on how to get that done by growing your traffic, subscribers, and customers. Since you were able to then quit your day job, you have more time and energy to put into growing your business. You set more ambitious goals and add another $2,000 to your bottom line. Instead of taking everything out in profit, you decide to continue to work on this whole leverage idea.
You set aside $100 a month to play around with Facebook ads to see if you can turn that into a profitable income stream. You take another $200 to start outsourcing some of the ongoing tasks that hold you back. You hire your first VA and now you’re really making progress. This in turn gets the attention of a fellow online entrepreneur in a related niche who wants to work on a project together. Do you see how this works?
One goal builds on the next and they all work together to generate exponential growth. Of course, this is just one little example. This can work in a myriad of different ways and will of course differ from one business to the next.
I invested in a program a few years back and was assigned an accountability partner. When the program ended, my accountability partner and I continued to meet every single week. But it became so much more because I get to help her with her online giveaway events and through our relationship collaborations and business growth happen.
My point is this:
If you start to think strategically and keep one eye on your next few moves, you can start to stack your efforts and engineer that explosive growth in a lot less time than you may think.