How the best leaders & achievers are COMPOUNDERS
Just like the redwoods are different than all the other trees in the forest (they compound growth over centuries), there are people in this world that are different like the redwoods: COMPOUNDERS.
I briefly referenced a couple people last week (Warren Buffett, Bob Dylan, & Seth Godin) that fall into this category. I’ll explain more.
Anything great is simply HARD. Setbacks, dips, and tragedy are part of any ambitious journey. I cannot find a biography where the road to success was easy.
FACT: There is no great story that goes like this: “Hey, I had this idea. I started it. Everything went great. The end.”
The people who achieve great things embrace the suck and are learning machines. These people are COMPOUNDERS.
The greats COMPOUND their effort with learning over extraordinarily long periods of time.
In my learnings over the past ten years, there’s an unspoken notion by COMPOUNDERS that those who learn the most win. They are the ones that are constantly observing and tinkering. The COMPOUNDERS are using history as a form of leverage. As Bill Sturm recently reminded me, a company only grows to the capacity of its leaders.
It’s in all of our best interests to be COMPOUNDERS.
Here are a couple Hall of Fame COMPOUNDERS that are learning machines and lean into the dips:
Sam Walton: Started and grew a successful retail franchise, “Ben Franklin Five & Dimes”, in New Port, Arkansas for five years generating over $250K revenue. His landlord screwed him on the renewal of his lease literally kicking him out of town. Walton’s attorney said: “looks like you’re finished…” Walton replied while clinching his fists: “No, I’m not finished. I can find another town!...” He makes his way to Bentonville Arkansas and the rest is history!
Michael Jordan: lost to the Pistons (“the bad boys”) in the playoffs three years in a row 1988-1990. This dip was the catalyst & launching point for the Bulls dynasty. He started “the breakfast club” for 5AM workouts well before team practice to expedite the learning & improvement curve for his career and team. He built his body to withstand “the Jordan rule.” (i.e. bad boys would physically beat Jordan on the court) Jordan stresses: “successful people listen.” Jordan listened to what he needed to do to take it to the next level.
Warren Buffett Buffett’s acquisition of Berkshire Hathaway in 1965, initially a struggling textile company, posed a major challenge. The textile business continued to decline despite his efforts. He learned from his initial failing efforts in the textile industry. Now, 94 years old spending his entire career reading 80% of his days. He’s learned more than most. He’s been doing this for literally decades. The competitive advantage of learning diligently over a lifetime is apparent. (look up ticker BRK.B)
James Dyson: Grinded for 14 years to recreate the vacuum industry without vacuum bags. Everyone doubted him. He was bankrupt, depressed, considered insane. He was constantly tinkering and improving his concepts and inventions for a better vacuum. Fast forward to today. Dyson is a $9 Billion revenue company.
Seth Godin, Best Selling Author & marketing hall of fame, has been writing a daily blog for over 25 years and published 23 books. Godin is consistently consistent. Think about the discipline… 25 years of daily, high-quality output. I refer to him when I’m looking for inspiration to show up.
COMPOUNDERS internalize the truth of effort:
EFFORT X TALENT = SKILL
EFFORT X SKILL = ACHIEVEMENT
COMPOUNDERS just absolutely love practice. Love learning. Love getting a little bit better.
Showing up consistently over a VERY long period of time is part of the journey of a COMPOUNDER.
The COMPOUNDER reframes obstacles as the way forward and views them as one step further up the mountain.
I’ll see you in your inbox next week.
Onward,
Matt