$1M or a Penny?

I was reading a book called, "The Slight Edge”.

I find it to be a super insightful book. It's written by a man who was a broke beach bodybuilder in his early 20s, that managed to create companies worth multi-millions in his 30s.

There was a great fictional story I came across in this book that has stuck with me for a while.

A father of 2 kids was soon to pass away.

This father wasn't just an ordinary father though.

He was a multi-millionaire & he was giving his kids 2 options.

2 options that would decipher the heritage & mindset the father passes down.

The first option was to either take a million dollars now.

OR...

Take a penny today, which then doubles every single day for the next 30 days.

It was a test of either instant or delayed gratification.

The first kid took the million dollars now.

He used that million to build a large team & company.

Everything was flowing well within the first 20 days.

Returns were exponential.

ROI was out of the roof.

However, things started to go left within that 20-30 day timeframe.

In the end, the business he built crumbled to the ground.

While the other kid who took the penny that doubles everyday.

Watched it double from 1 cent to 2 cents to $4600 to $10,000 to $100k & so on.

On the 30th day.

He ended up with over $10M.

All because he chose to delay gratification.

So, what's the lesson behind this?

If it isn't obvious yet.

Fight your urges telling you to choose instant gratification.

Formulate your thought process, so it naturally goes for delayed gratification.

You'll end up more successful & fulfilled as opposed to the person who always chooses instant gratification.

Anyways, that's all for me.

Until next time,

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