Several years ago, I heard Alan Weiss, author of Million Dollar Consulting, speak at my chapter of the National Speakers Association.  In his talk, he talked about what he called the 1% solution. He said that if you improve by 1% each day, in 70 days, you are twice as good.

This has been floating around in my mind since that time. And I got to wondering—what if you improved every day for a year? How much better would you be then?

I’m no math whiz, so I called my cousin Stan, the financial genius.  I said, “Stan, you know about compound interest…can you figure out compound effort?”  Stan did the math, and told that if someone did 1% better 365 days in a row, they’d be 37.4 percent better!  Elise, one of my pottery buddies, a PhD student and self professed math nerd did the math another way, and got the same number.

This really is astounding!  37 times better in one year! This is the power of compounding.

What would this mean for your business?

Here are some ideas to get your creative juices flowing.  You want to choose some things that you could use to get 1% better every day.

Learn something.

In today’s world, you need to be an expert in your field.  Knowledge and expertise set you apart from the masses, and make you the “go to” person in your area of specialty.  You’re never done learning. Read a chapter in a book, listen to a teleseminar, read an article, do internet research, listen to a speaker—the possibilities for learning are endless.  Know 1% more each day, and you’ll know 37 times more after a year.

Know your target market/audience.

When you market to everyone, you market to no one! It’s important to know who you are meant to serve, and how you can best help them. It’s important to know how you can help solve their problems or help them reach their goals.  You need to know them intimately in order to best be of help.

Often, people are afraid to do this. They’re afraid that if they narrow their focus, if they don’t cast a wide net, that they’ll miss some opportunities.  Actually, the opposite is true.  The more you focus on a niche, the more the people in that niche feel like you are there just for them, and the more “client attractive” you become.  Focus on knowing your target market just 1% better each day and watch what happens.

Get laser focused.

Often when I talk to entrepreneurs and ask them what they do, their answer is so fuzzy and unfocused that I’m still not sure what their expertise is even after they answer.  Make sure your message is clear, focused, and on target for your listener.  You can’t be all things to all people.  Get really, really clear.

Know what sets you apart from everyone else. Know how your product or service will serve your target market.  Be able to talk about it clearly and succinctly. How can you get 1% more clear and more focused in your messaging today?

Uplevel your skill set.

Use the additional knowledge you’re gaining every day to get better and better at what you do.  Remember, if you improve just 1% a day, you’ll be 37 times better in a year.

Be a better speaker.

Speaking to an audience made up of your perfect target audience is an incredibly effective way to get clients. But you have to be good—really good. I always say, “The only thing worse than not speaking, is speaking and doing it badly.”  Study, practice, get coaching, read my e-book (link for download below).  Make a commitment to get 1% better every day so you can “wow” your audiences and attract clients.

So there you have it.  The power of a 1% daily improvement.

What will you focus on improving 1% today?  Share your thoughts below.

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