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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 January 24, 2020

          10 Good Habits To Have in Life To Be More Successful

          10 Good Habits To Have in Life To Be More Successful

          Habits are behaviors and patterns that you showcase by default. They enable you to carry out crucial activities like taking a shower, brushing your teeth, getting prepared for work.

          Interestingly, you follow this routine every day without considering them. Your unconscious habits create room for your brain to perform more advanced activities like problem-solving and choosing what book to read.

          Everyone has habits, and several of those habits are activated every day. I would classify them into three groups:

          • The first category includes the habits that you hardly notice as they have become a major part of your life- such as brushing teeth or wearing clothes.
          • The second category comprises good habits to have to be more successful-like eating healthily, exercising your body and reading books.
          • The last group consists of those habits that are harmful-like procrastinating, smoking or overeating.

          Habits are fundamental to becoming successful in life — or probably ending up a failure. Yet, as significant as habits are, some lack the knowledge of their capabilities.

          Habits are default activities that you engage in without giving an afterthought. They are automatic behavioral or mental activities. They help you carry out some actions without exerting too much energy. They simplify your life.

          Several people aspire to break bad habits. For instance, some people diet to stop overeating. They exercise to reduce obesity. Habits can hinder or impact your performance and productivity.

          That’s why I would share 10 good habits to have to be more successful in life.

          1. Begin Your Day with Meditation

          I recommend mindful meditation early in the morning. This practice helps you to be in the present moment. Consequently, it enables you to be mindful of challenging situations during the day.

          Different stressors may trigger as you go through the day; meditation helps you to remain calm before taking on the challenges.

          Personally, it helps me to devise strategies and think about ideas. Meditation is a good habit to have if you want to be connected to what’s significant in your life.

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          2. Be Grateful for What You Have

          Sometimes, you waste time thinking of what’s not enough. You become immersed in those daunting challenges. However, challenges justify the presence of hope. When you have life, you have expectations. You will be free from challenges when you are six feet under. The only strategy you have to stop focusing on your problems is to focus on what you have.

          Gratitude is a time-tested pathway to success, health, and happiness. It redirects your focus to what you have from what you lack. Here’s what James Clear does every day,[1]

          “I say one thing I’m grateful for each day when I sit down to eat dinner.”

          3. Smile

          Can you pause and smile before you continue reading this?

          Now here is what just happened based on research conducted by the Association for Psychological Science; you set a pace for living a happier life when you smile. A genuine smile or what’s called a Duchenne smile is a good habit to have if you want to find spiritual, emotional and mental peace of mind.[2]

          Smiling induces the release of molecules that function towards fighting stress. The physiological state of your body determines the state of your mind. When you slouch or frown, your mind takes cues relating to unhappiness and depression. But, once you adjust yourself by putting up a smile, you begin to feel a new level of excitement and vibrancy.

          Can you smile again?

          4. Start Your Day with a Healthy Breakfast

          Starting your day with a healthy breakfast is a good habit to have and forms a crucial part of your life. Nevertheless, about 31 million Americans skip their breakfast each day.[3]

          If you are fed up hearing that breakfast is a crucial component of your day, you are only fighting the truth. If you want to become more successful, you need to ‘break your fast’ with healthy foods every morning.

          This habit is not difficult to form if you usually rush out the door every single morning. You can wake up earlier to fix yourself a meal so you don’t break down during the day.

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          Get inspired by these 20 Healthy Breakfast Choices That Will Save You Time.

          5. Exercise Daily

          One of the good habits to have is to exercise your body and muscles every day. You don’t have to run a marathon or lift a weight. You only need to engage in less strenuous activities that oxygenate your blood and inject endorphins in your body.

          Jack Dorsey, the CEO of Twitter, classified exercise as a good habit to maximize his already jam-packed schedule.[4] He said,

          ‘I wake up by 5, meditate for 30 minutes, seven-minute workout times three, make coffee, and check-in.’

          He said on Product Hunt that he follows this routine every day as it gives him a steady-state that empowers him to be more productive.

          6. Manage Your Time as You Manage Your Finance

          Another good habit is the act of managing your time effectively. This goes a long way to impact your achievement.

          Time management is what separates the successful from the rest of the world as we all possess the same amount of time. How you leverage time determines your potential to succeed in life.

          So how do you manage your time effectively?

          Here’s Jack Dorsey’s recommendation in one of the Techonomy events;

          “I accomplish effective time management by theming my days and practicing self-discipline. These themes help me handle distractions and interactions. If a request or task does not align with the theme for that day, I don’t do it. This sets a cadence for everyone in the company to deliver and evaluate their progress”.

          And this is Dorsey’s weekly theme:[5]

          • Monday – Management
          • Tuesdays – Product
          • Wednesday – Marketing and growth
          • Thursdays – Developers and partnerships
          • Fridays – Culture and recruiting
          • Saturdays – Taking off
          • Sundays – Reflection, feedback, strategy, and preparing for Monday

          No wonder he was able to run two companies when others were struggling with one job.

          7. Set Daily Goals with Intentions

          Everyone has goals. It may relate to business or personal life. The truth is, we’re all tending towards a particular direction or another. Nevertheless, while long-term goals can offer you direction, it’s your daily goals that you establish that help you develop short-term goals that are essential for your success.

          Long-term goals may not give you the motivation you need to keep on. But when you implement your short-term milestones daily, you become fired up, and you can overcome the challenges that come with taking on bigger tasks.

          Here’s the main truth:Successful people don’t set goals without establishing their intentions. According to Jennifer Cohen of Forbes,[6]

          “What helps you to achieve your desired expectation is ensuring intentions accompany your daily goals.”

          Be intentional about your daily goals!

          8. Seek Inspiration

          It is usually difficult to be inspired for a considerable length of time. Sometimes, you become discouraged and feel like giving up on your goals when things are not working out as intended.

          A practical approach to stay on top of the situation is to inspire yourself each day. When you wake up in the morning after meditation, watch some motivational videos, and let the story of great leaders inspire you.

          Establish what Anthony Robbins called the ‘hour of power.’ Determine how many minutes you spend but make it count. Inspiration is the fuel for achievement because when you can conceive it in your mind, you can accomplish it.

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          Michal Solowow, an investor and the founder of Mitex, a construction company puts it this way,[7]

          “The problems I encounter in everyday life motivates me to find solutions. This is a self-propelling mechanism. becoming a billionaire was never a motivating factor.”

          9. Save Steadily, Invest with All Prudence

          I can exhaust the good habits to have without talking about saving and investing. Most times, you overlook the significance of saving for the future when you are living in your present moment. According to CNBC, a $1000 emergency will propel several Americans into debt.[8]

          However, it is not enough to save, and you must invest your fund and be wise with it. If you pay attention to this now, you will set yourself for a life of success in the future. Ensure you save at least six months in your emergency account so you can be prepared for any future emergency.

          10. Budget and Track Your Spendings

          Benjamin Franklin warned of taking the precaution of little expenses. He said,

          “A small leak sinks a great ship.”

          It is easy to discard little expenses, but the truth is they always add up. This happens when you fail to budget.

          Budgeting is a good habit to have, which can impact your financial life significantly. The money you spend on extravagant lifestyles can be saved and invested in your future.

          The Bottom Line

          Endeavor to cultivate these good habits to have to become more successful as you journey through life. The quicker you cultivate them, the faster you achieve your goals.

          More About Habits

          Featured photo credit: Andrijana Bozic via unsplash.com

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