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The 2 Types of Growth: Which One of These Growth Curves Are You Following?

The 2 Types of Growth: Which One of These Growth Curves Are You Following?

We often assume that life works in a linear fashion.

People will say, “You get out of life what you put into it.” The basic idea is that for each unit of effort you put into a given task, you get some unit of return. For example, if you make $25 per hour and you work for two hours, then you’ll make $50. If you work for 4 hours, you’ll make $100. Put more in. Get more out.

There is just one problem: most of life doesn’t actually follow this linear pattern. Don’t get me wrong, hard work is essential. However, if you expect your life to follow a linear trajectory, then you may find yourself feeling frustrated and confused.

Instead, most areas of life follow two different types of growth. This is something I learned from my friend Scott Young. Let’s talk about these two patterns now.

Which one of these growth curves are you following?

Type 1: Logarithmic Growth

The first type of growth is logarithmic.

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Logarithmic growth increases quickly in the beginning, but the gains decrease and become more difficult as time goes on. Generally speaking, logarithmic growth looks something like this:

logarithmic-growth-curve

    There are many examples of logarithmic growth in daily life.

    • Fitness and Strength Training: The “beginner gains” come quickly at first, but then it becomes more difficult to get stronger each week.
    • Literacy: Children and young students make massive leaps as they learn how to read. Meanwhile, college students and well-educated adults have to put in a focused effort to expand their vocabulary beyond commonly used words.
    • Language proficiency: Learning how to speak even a rudimentary level of a new language opens up a whole new world. However, there are only meager gains left for fluent speakers to discover.
    • Weight Loss: It may be relatively easy to shed five pounds within a week or two, but then the progress slows. Each successive pound of fat loss is more stubborn than the last.
    • Musical skill: Improvements come quickly for a novice guitar player. Improvements come very slowly for a concert pianist.

    There are thousands of other examples. In fact, most skills (writing, programming skills, juggling, running, etc.) fall into the logarithmic growth category.

    Type 2: Exponential Growth

    The second type of growth is exponential.

    Exponential growth increases slowly in the beginning, but the gains increase rapidly and become easier as time goes on. Generally speaking, exponential growth looks something like this:

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    exponential-growth-curve

      You will also find exponential growth opportunities in daily life (although I think they are less prevalent).

      • Investments and wealth: Thanks to the power of compound interest, your retirement savings start out as a small treasure in the early years, but balloon in size during the final decade or two of savings.
      • Email subscribers and website traffic: New websites receive just a trickle of traffic here and there, but as the weeks and months roll on those trickles can build into a raging river of visitors and subscribers.
      • Entrepreneurship and business growth: The assets that you build for your business stack on top of one another and revenue compounds throughout the life of a successful business.
      • Social media followers: When you only have 100 followers, getting another 100 followers may take six months. Once you have 1,000 followers, however, getting the next 100 may only take one month. Once you have 100,000 followers, getting another 100 probably takes one day. Your growth rate snowballs.

      The Challenges of Each Growth Curve

      Neither type of growth is good nor bad. These growth patterns are simply the way certain things work. However, it is important to understand the growth pattern of your task so that you can set your expectations appropriately.

      Don’t expect exponential returns when you’re playing a logarithmic game. Similarly, don’t expect quick wins when you’re building something that has an exponential curve.

      When dealing with logarithmic growth, the challenge is to avoid feeling discouraged as your improvements decrease. Improvement will come easily in the beginning and you will become accustomed to enjoying small wins each day. Soon, however, those small wins will become smaller.

      Logarithmic growth requires you to have the mental toughness to play a game that will, by definition, become more challenging to win as time goes on. You will feel like you have plateaued. You will question yourself and your abilities. If you want to succeed with logarithmic growth, you have to learn how to fall in love with the boredom of doing the work if you want to maintain consistency as your improvements dwindle.

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      When dealing with exponential growth, the challenge is to continue working through the early period when you have little or nothing to show for your effort. Exponential growth requires you to be remarkably patient and diligent (often for years or decades) before enjoying a significant payoff. There may be 10 years of silence before you hear the sound of success.

      Equally important, you need to give your best effort even when you’re getting average results. Exponential gains only result from sustained effort in the early years.

      How to Accelerate Your Progress

      Once you understand the type of growth curve you are dealing with, there are two ways that you can accelerate your progress on a given curve.

      Option 1:

      The first option is to break the task down into smaller tasks that can be mastered more quickly. In other words, by getting very specific with the task you are working on, you can increase the rate of growth (i.e. smaller tasks have steeper growth curves because they are easier to master). This strategy works especially well for accelerating your progress on tasks that experience logarithmic growth.

      smaller-growth-curves

        Dave Brailsford’s aggregation of marginal gains is a great example of this. By improving every small task related to cycling by just 1 percent, Brailsford was able to guide his British cyclists to massive success. Mastering these small tasks led to incredibly fast growth.

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        Option 2:

        The second option is to play a different version of the game. More specifically, play the version of the game that has the highest growth curve. This strategy works especially well for tasks that experience exponential growth.

        Take entrepreneurship, for example. You could build a candle shop. All of the statements about exponential growth hold true for a candle shop. Given enough time and a good product, you could eventually produce candles at scale, develop new product lines, and otherwise build assets that lead to exponential growth years later.

        However, if you played a different version of the entrepreneurship game and started a software company, then you may reach the exponential growth threshold much faster. There are a variety of reasons for this: reduced overhead and manufacturing costs, faster industry growth overall, higher margins, and so on. The end result is that both companies have exponential growth curves, but one has a much steeper slope.

        highest-growth-curve

          The Bottom Line

          Most things in life have some type of growth curve and very rarely is that curve a straight line.

          Understand the type of curve you are dealing with so that you can set your expectations appropriately. And if you aren’t happy with the type of growth curve you’re on, then start playing a game with a different curve. (1)

          This article was originally published on JamesClear.com.

          FOOTNOTES
          1. This article contains many of my own insights, but I want to make sure that all the credit for the two types of growth concept goes to my friend Scott Young. I am simply building upon his work.

          Featured photo credit: Stefan via flickr.com

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          Last Updated on December 13, 2018

          There Is More to Life Than  ____________

          There Is More to Life Than  ____________

          I decided to leave the title of this article open ended, because I’d like you to fill in what words best fit that blank. We’re all unique individuals from different walks of life, and in different stages of life; so, that sentence will have a different meaning for each of us.

          If you’re a busy working professional, why are you working in the job that you have now?

          Is it because it’s something you’re passionate about and brings you a lot of satisfaction? Or, is it because you studied that in college and just found a job that hired you for those skills? Perhaps it’s because of the money that you’re earning, or know you can earn down the line?

          What if you’re about to retire? You’ve got, say, 2 to 3 more years before you hit your ‘deadline’ for retiring. Have you done all that you’ve wanted to do in the past 30-40 years? Any unfulfilled goals or dreams? Are you happy with the outcome of your life to date, all the decisions and/or risks that you’ve made thus far?

          I’m sure many of us started working after college in hopes of earning a good living–to be financially stable and able to afford the ability to experience and do things that we love. We start establishing a career, and with time, tick off boxes on our bucket or ambition list. As you look back on the last couple of years, just how much of your time has been spent doing things that you enjoy and love–the things that give you a great sense of fulfillment and meaning?

          Have you become a slave to the economy, a slave to your work, or a slave to your kids? Or have you found a balance between work and pleasure?

          When is Enough Ever Enough?

          Sadly, many of us live to work.

          Realists would argue that if you truly want to work to live, you still need the finances to back that up. No money no talk. That is how the world runs today. So if you don’t earn or make enough dough, it’s hard to truly enjoy life; it’s hard to be happy without money.

          So, in this quest to provide just that, many of us end up spending our whole lives pursuing wealth and a life of status and material wants. But, is it ever enough? Is there such a thing as having too much money? And, at what expense?

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          Many wealthy entrepreneurs, millionaires and even billionaires have come to agree that money doesn’t bring you all the happiness in the world. It’s good to have, but it doesn’t truly satisfy all desires. There comes a point where you would have ‘had it all’ and still feel a sense of emptiness: an empty void that needs to be filled, not with money or material possessions.

          So the question is then, what more is there to life if not for financial stability, status or material possessions?

          How do we make work a part of life instead of having it consume our life entirely? Perhaps we need to go back to look at the word life itself.

          What is Your Purpose in Life?

          What is the nature of life? What does life mean to you? Is there a purpose?

          If we seek jobs, all we will find are jobs. But if we have a sense of purpose in how we are productive; if we seek a calling, then we will find more than a job. We will find our contribution to humanity and we will find more to life. Would you agree?

          Research has shown that having purpose and meaning in life increases overall well-being and life satisfaction, improves mental and physical health, enhances resiliency, enhances self-esteem, and decreases the chances of depression. So it should be noted that to be happy in life isn’t always enough, because happiness is a surge of emotions that does not last. Instead, it’s more important to find and have meaning in life.

          Meaning is not only about transcending the self, but also about transcending the present moment. While happiness is an emotion felt in the here and now, it ultimately fades away, just as all emotions do; positive affect and feelings of pleasure are fleeting. The amount of time people report feeling good or bad correlates with happiness, but not at all with meaning.

          Have You Been Going on a Wild Goose Chase?

          Ironically, the single-minded pursuit of happiness is leaving people less happy. “It is the very pursuit of happiness, that thwarts happiness”, according to Viktor Frankl, a famous Austrian Neurologist and Holocaust survivor. Going back to the common example of pursuing riches in order to be happy is exactly what makes many so unhappy.

          So again, look at the statement “There is more to life than ______.”

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          Have you answered it meaningfully? If you’ve read on this far, and are now wondering how to take that first step to figuring out what your true purpose is in life, fret not; I’m here to help you reframe your mind and actions, so that you can embark on a journey of finding true meaning to your life.

          Everything that you can do and accomplish in life are bounded by 7 Cornerstone Skills. These are the true essentials needed to achieve excellence. They’ll put you on a path that gives great meaning and satisfaction in life. And, the best thing of all? They already exist in each of us. We just don’t always make the most of it, or sometimes we aren’t even aware of the power that each of these skills have to help us in life.

          On it’s own, each skill is unique and can help you through different stages of life, or problems. But as a whole set, these 7 Cornerstone Skills will give you full transformation over any situation. No matter what phase of life you’re in, what you’re striving to achieve, or what feel you’re lacking, your pursuit of meaning in life will be much faster when you’re able to make use of not one, not two, but all 7 Cornerstone Skills.

          The 7 Cornerstone Skills

          So let me give you a glimpse into what these 7 Cornerstone skills are.

          Creativity

          Creativity empowers you to find unique solutions to problems, and see things in ways that you least expect.

          It goes beyond the artistic impressions and aesthetics, and is a crucial building block of change.

          Learning

          Without Learning, you will not be able to advance and progress in life. Yet, there are many of us who always fall behind not because they don’t have the intellectual ability, but because they don’t know how to learn effectively.

          Memory

          And then we have Memory, one of the most vital components, because without that you have nothing to fall back on, nothing to gain from all the learning or experiences that you’re exposed to on this earth.

          And with an ever increasing amount of information available, how can you store up as much knowledge as you can without overloading?

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          Focus

          And with any and everything that you do, a certain amount of Focus is always given.

          Whether it’s the career ladder that you’ve been climbing, or the responsibility of being a parent, Focus is a flow that allows you to push towards the progress that you’re striving for.

          Without focus, we find ourselves lost, demotivated and stuck in a rut.

          Motivation

          Many of us aren’t happy in life or with our jobs and responsibilities because we lack Motivation, and an overarching purpose as I already mentioned earlier. Motivation helps drive you forward, and gives you the focus achieve your purpose.

          Habits

          If you realize, every new day that comes is filled with routines. Whether it’s getting ready for work in the morning, putting your kids to bed in the evening, or setting aside time during the weekends for family time and activities, it all happens as a result of habits that you’ve built over time.

          Therefore Habits dictate a big part of your life. Pursuing happiness, money or meaning all have a dependency on your habits. If you find yourself being controlled by bad or negative habits, it’s more likely to hinder you from being productive and reaching those goals.

          Time

          This also ends up leading to bad use of Time, or poor time management.

          You might feel like you haven’t built a stable career yet because you lack proper time management. You find yourself spending a lot of time being busy, yet producing little outcomes.

          Or certain habits might be consuming time that you can be using for other more productive tasks.

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          Perhaps you’re on your way to retirement, and feel like it’s too late to find new meaning to your life. There’s not much time left to embark on a new journey again.

          Are You Ready to Live Your Best Life?

          The simple fact is, that if you can sharpen these 7 Cornerstone skills, you will realize that finding meaning in life, or reaching the goals and ambitions that you’ve set out for yourself, no matter what stage of life you’re in, is very attainable.

          There is no magical method to having life figured out. The skills have always been there since day 1, you just need to know how to use it to the best of your advantage.

          And I’m here to show you just how you can do that. Lifehack is all about equipping you with the best and most effective ways to increase your productivity, motivation and focus to achieve true Purpose in life, in as little time as possible.

          Embark on a transformational journey with us as we show you how to learn and improve your 7 Cornerstone Skills so that you’ll come out a new person, ready to either pursue your existing goals at a much quicker rate, or to find new goals to pursue without being limited by time, age or responsibilities.

          If you’ve been wanting a change, or been stuck in a rut for a while now, here is your chance to get started on pushing towards progress again.

          Anyone can transform, anyone can change. Are you ready to live your best life? Click here to start your journey!

           

          Featured photo credit: Caroline Hernandez via unsplash.com

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