Six Important questions that help unveil the real power of compounding

Written by
Written by

Deolu Akinyemi

1. Why should I compound?
2. What can I compound?
3. Where can I compound?
4. How can I compound?
5. When can I compound?
6. Who can I compound?

Let us take deeper dive into these.

1. Why should I compound?

Why is because all great fortunes are built slowly over time. If you are not earning compound interest, then you are likely paying it. Everything we buy or use is offering someone compound income.

2. What can I compound?

You can compound your business capital, skills, capabilities, savings, inventory, brand, reputation, followers, knowledge, etc.

3. Where can I compound?

One of the best places to compound is what you are doing yourself. Before succumbing to the lure of keeping your resources with a 3rd party, ensure you have exhausted the options available for doing it yourself. There is no fertiliser like the farmers’ shadow. If you want something to really get done, you need to be there to do it yourself. Where all you have to compound is money, look for a family or friend that is trustworthy and is building something. Invest in and with them.

4. How can I compound?

Compounding requires discipline. It requires first creating a model you want to follow and committing to it. It’s easy to get distracted from compounding attempts if you don’t have the model that you are following. The beauty of compounding is only seen after a reasonable time. To quit anytime before that time would be to have wasted time, but to hang in there until the big break happens requires knowing what to do and what to expect.

5. When can I compound?

The best time to start compounding is when you get insight into the power of compounding. As we say in Africa, your morning begins the moment you wake up. Whatever has kept you from knowing this till now becomes an excuse after today. The best time to plant a tree was 20 years ago, but the next best time is now.

6. Who can compound?

You can compound! Anyone with a dream can and shows compound. Anyone building a business can compound, anyone building a career can compound, and if what you are building is a team or network, you can compound as well. You can literally compound anything of value that has the capacity to become more and yield more in the future. You can also help your children compound.

So once again, what are you building? Don’t let these words stand in your judgement.

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