The Penny Doubled Daily Story

A penny doubled daily

Employer asks a potential employee, “Which compensation package would you prefer, $500,000 for the year or a penny doubled daily for a month (the total that results from doubling a penny (one cent) daily for a month)?”

Day 1 => $0.01
Day 2 => $0.02
Day 3 => $0.04
Day 4 => $0.08
Day 5 => $0.16
Day 6 => $0.32
Day 7 => $0.64
Day 8 => $1.28
Day 9 => $2.56
Day 10 => $5.12
Day 11 => $10.24
Day 12 => $20.48
Day 13 => $40.96
Day 14 => $81.92
Day 15 => $163.84
Day 16 => $327.68
Day 17 => $655.36
Day 18 => $1,310.72
Day 19 => $2,621.44
Day 20 => $5,242.88
Day 21 => $10,485.76
Day 22 => $20,971.52
Day 23 => $41,943.04
Day 24 => $83,886.08
Day 25 => $167,772.16
Day 26 => $335,544.32
Day 27 => $671,088.64
Day 28 => $1,342,177.28
Day 29 => $2,684,354.56
Day 30 => $5,368,709.12
Day 31 => $10,737,418.24

That’s the ‘Penny Doubled Daily Story.’ Notice that it takes some time before the amounts become significant. This story is often used to demonstrate the power of compounding or exponential growth. In the network marketing industry this is often referred to as geometric growth.

Hefty, monthly credit card charges lead many network marketing distributors to quit long before the magic of significant, geometric growth has kicked in. The industry calls this attrition. Attrition is a huge problem, I’ve seen estimates that 95-98% of distributors quit, many, perhaps most, quit after just three months. A network marketing aphorism is, “The only way to fail is to quit,” but industry wide people are quitting in droves.

What if you could remain ‘active’ for about $30 per month? Would more people go on to profit and ultimately financial success? I’m convinced the answer is yes.

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Update 20111104: I’m no longer involved with network marketing.