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Bill Ackman: Make a Little Progress Every Day

By Bill Ackman · Startup Growth · 2 min read

Ackman's company nearly collapsed. His method for surviving disaster? One step at a time.

Key Points

Progress compounds like money -- you won't see results for weeks, then suddenly you're far ahead
Don't look up at where you used to be. Just keep stepping forward.
Nutrition, sleep, exercise, and good people around you are the foundation

Progress compounds a bit like money compounds. You don't see a lot of progress in the first few weeks. But 30 days in, okay. 90 days in, you're like -- I was way down there.

Not His First Disaster

Bill Ackman has been near total disaster more than once. His company Pershing Square took a massive hit. The kind that feels like the end.

But he'd been through something like it before, back in 2002. And that earlier crisis taught him a method for dealing with the worst moments.

This is not my first proximity to disaster. I had another moment in my career, and I learned this method for dealing with these kind of moments.

A Little Progress Every Day

Ackman: "You just make a little progress every day. So today I'm going to wake up, I'm gonna make progress. I'll make progress on the litigation. I'll make progress in the portfolio. I'll make progress with my life."

The key insight: progress compounds like money. You don't see much in the first few weeks. But 30 days in, you start to notice. 90 days in, you look back and realize how far you've climbed.

You can't look up the mountaintop where you used to be, because then you'll give up. Just make step by step by step.

The Bump on the Curve

Ackman: "One day you wake up -- wow, it's amazing how far I've come. And if you look at a chart of Pershing Square, that huge drop that felt like a complete unbelievable disaster looks like a little bump on the curve."

That's perspective. The worst moment of your career becomes a footnote if you keep moving forward.

That huge drop that felt like a complete unbelievable disaster looks like a little bump on the curve.

The Formula

Ackman's survival checklist is simple: nutrition, sleep, exercise, and a little progress every day. Plus good friends and family.

Ackman: "I had to go take a walk with a friend every night. A sister who loves me and parents who are supportive. But they were all worried about their son, their brother. It was a moment."

The key is nutrition, sleep, exercise, and a little progress every day. And good friends and family.