Compound Interest is The Most Powerful Force in The Universe. - Albert Einstein
Gone are the days of working your way up one company all your life. We are now entering the age of the compound career. And if you start early you can be on top by the time everyone else is faced with this reality. So, what s a compound career?
1. Work as we know it
You work for a set amount of time. Get paid. repeat. For the most part work you did last week has no effect on work you do this week, last weeks work is gone.
Think of Bank interest. You start with £100 after a year you have £110, £121, £132, £145... over time you slowly make more. The compound career works on a similar concept.
After a certain point your skills/knowlage come to a stand still in most jobs. After a year there isn't much more to learn when it comes to stacking shelves, flipping burgers, serving customers food ect. Even more skilled jobs reach a summit where you stop growing.
The compound career allows you to continue to grow your skills/knowledge indecently.
Back to the initial question 'what is a compound career?' Maybe you've managed to guess it. It's content. Thanks to the internet it's essentially everlasting.
Do the hard work to write a book and you can make money from it for the rest of your life. The same with videos, graphic designs, music, programs ect.
With each addition you gain a bigger audience and that larger audience has the ability to buy all your past content, making everything more valuable.
With each new skill/knowledge you gain your brand grows, because you are your brand.
Once you make a product it's there for life. You also have the rest of your life to continue to tweet it and make it better.
It might start of useless, but like the products you can adjust it for the rest of your life making it a little better with each tweak.
They follow a similar path. 1 customer loves the product and tells three friends, they buy and tell three before long you'll have hundreds of happy customers.
1, 3, 9, 27, 81, 243
8. Where do I start?
What would you like to base your content on? Start making it in as many fields as you can video, blog posts, books, podcasts, pictures ect. and build your audience. You can then advertise other products or make your own and sell them. Build a website as a hub for everything you do.
Start small and watch it compound for the rest of your life.
Thanks for reading. This is a difficult concept so if you need me to explain anything, let me know in the comments.