“All the benefits in life come from compound interest — money, relationships, habits — anything of importance.” – Naval.
We often talk about time being the secret ingredient in investment success. That to benefit from compound interest, we need to let our investments grow uninterrupted.
Benefiting from compound interest is also about survival. If your portfolio drops to zero, you stop the process and have to start over.
Survival + longevity is an asset. The longer you can stay consistent and in the game, the more chances for success.
Especially for the Solopreneur, it’s crucial to provide yourself with a margin of safety and to be realistic with your runway.
Your runway is how long you can last before you put yourself in an adverse financial situation that’ll set you back longer than you’re willing to endure.
The more conviction you have in what you’re building, and the more proof of concept you have, the greater your capacity for risk can be.
Longevity is an asset because your reputation creates value for your brand. When you’re consistent with your message and the value you provide, your marketing sends a subliminal message saying, “I’m still here.”
There’s no marketing that can substitute the additional value provided by proof of longevity.
No matter what you’re trying to accomplish, focus on the steps needed to survive so that you can put yourself in a position to thrive.
Honorable mentions 🙂
- Love what you do
- Be willing to sacrifice it all
- Be fearless
- Believe in yourself