via Charlie Munger:
The first rule of compounding: Never interrupt it unnecessarily.
Building a strong base, even when it’s freakishly small is the way to do it. And then, consistently investing in it day after day, week after week, month after month, year after year… can ultimately yield something massive.
The way that I think about business building is the exact same way. Same with product development, same with team building, same with finances, and relationships, my profession, family, and pretty much everything in life.
It’s too bad that I’ve spent most of my life under-appreciating the power of compounding. I should have invested more heavily into certain areas and just not quit. I shouldn’t have interrupted the dynamic in play.
At this point in my life there are only a few things that I’ve allowed to compound for a while and I really do wish that list was longer. I shall do whatever I can to teach this concept to my kids so they can benefit from the power of long-term compounding.