Controlling the Domino Effect in 3 different scales—the global economy, work, and personal growth.

3 times the dominos effected the economy

Before we get to the ‘how’ on controlling the outcome of Domino Effect, let’s look back at the history of major incidents that have caused a Domino Effect in the world’s economy:

• Devaluation; 1997. A fall in a currency in Southeast Asia caused international investors to lose confidence and sell similar currencies in other Asian economies.
• Credit crunch; 2007-2008. A shortage of finance in the United States spreads throughout the world and to all banks.
• Debt crisis; 2012-2013. Bond yields rise in Greece, causing rising bond yields in other Eurozone economies.

There are, of course, other times in the history when something similar occurred. But, the three examples above showcased the process, cause, and outcome of a Domino Effect quite comprehensively.

Although we as individuals may not have the power to control this gigantic scale of Domino Effect, we can familiarize ourselves with how it works, to then control what’s within our scope.

Learn more about how each of the 3 happenings above came to be in the full Economics Help article here.

The chain reaction that could unchain your ROI

Whether you work in the Sales department, or looking to build your own business (regardless of the scale), ROI is an important centerpiece that needs to be protected. 

McKinsey & Company has come out with their version of Domino Effect that could skyrocket your ROI and elevate the value of your business:

Even when you’re not in charge of keeping the company’s ROI in check, the strategy above can be used as a base for other departments to boost their productivity as well.

Check out the full piece by McKinsey & Company here to get a full sense on how the strategy works. 

Keeping the good dominos going

The smallest unit of work that we all are always in control of, is none other than our own individual selves. 

Prior to bringing the ROI strategy, or any strategy to the team in effort to keeping the company afloat, and hence the industry and economy balanced, we must start our own chain of advantageous habits.

Here are the 3 rules you should follow to create a good, personal Domino Effect:

1. Start with the thing you are most motivated to do. It does not matter which domino falls first, as long as one falls. Check out also The Two-Minute Rule.
2. Maintain momentum and immediately move to the next task. With each repetition, you will become more committed to your new self-image.
3. When in doubt, break things down into smaller chunks. As you try new habits, focus on keeping them small and manageable. It’s all about progress, not results.

The piece of advice above is delivered by the author of renowned self-help book “Atomic Habits”, James Clear. Read more on Clear’s view of Domino Effect here.

If you made it this far, here’s a quick fun trivia: how many times was the phrase “Domino Effect” mentioned in this week’s Monday Mavens edition?

Hopefully, it’s as many times as you will reach your goals and achieve growth within this week—and even more.

Shout us out to your peers by sharing this edition to your group chats, family chats, and social media. While you spread the word, we’ll go back to pumping out more editions for you.

Hope to see you again next Monday!