“The difference between 1% and 2% is not just 1%, it’s 100%.” — @YS
We're conditioned to think of a single percentage point as an almost non-consequential gain. In conventional wisdom investing, 1% would be laughed at.
But if you're running a business, the downstream effect of a 1% improvement can be enormous.
Let's say you have a website that converts traffic at 1%. For every 1,000 visitors, you get 10 customers.
Let's say each customer makes you $100. At 1%, you make $1,000.
Now imagine you improve your website copy, reshoot your product images, experiment with new traffic sources, and your rate of conversion increases to 2%.
You make $2,000.
Your 1% improvement drives a 100% improvement in outcome.
