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Video: The 1 Percent Rule
Metin: The 1 Percent Rule
Small differences in performance can lead to very unequal distributions when (they are) repeated over time.
This is yet another reason why habits are so important.
The people and organizations that can do the right things, more consistently are more likely to maintain a slight edge and accumulate disproportionate rewards over time.
You only need to be slightly better than your competition, but if you are able to maintain a slight edge today and tomorrow and the day after that,
then you can repeat the process of winning by just a little bit over and over again.
And thanks to Winner-Take-All Effects, each win delivers outsized rewards.
We can call this The 1 Percent Rule. The 1 Percent Rule states that over time the majority of the rewards in a given field will accumulate to the people, teams, and organizations that maintain a 1 percent advantage over the alternatives. You don’t need to be twice as good to get twice the results. You just need to be slightly better.