Becoming A Top Leader Series - Part 3B - Leverage - Long Term Win

Larry Weidel contrasts playing it safe with compound growth. Start at a penny and double daily, you hit millions in a month. The real win is maintaining cash flow while betting on long-term leverage.
Questions this video answers
$30,000
Approximately $5.3 million
Day 22
Welcome to part three of the Becoming a Leader series. To get this point across, you're gonna find. Here's the principle that really reveals the difference in the thinking and something I used to tell this thing three or four, this story three or four times a day, and it's the story of two boys. I think this is over on White El Academy. You can look for it and see, but you got two boys, two men. Go to work for the richest man in the world for 30 days. He gives them a choice. Over on one choice is you can get a thousand dollars per day, choose how you're going to get paid, or you can take another approach, a little riskier, and go to work starting the first day at $0.01, $0.01, and then every day you double. Now, on first glance, you might say seems a little too obvious. But what most people do is they go through their entire lives taking this approach. The end of 30 days, they've got their $30,000. They're totally happy until they look over at the other guy. And if you take this, this one right here, by the 30th day, believe it or not, that's going to turn into $5.3 million. And the funny thing is, it's about the 22nd day. You know, you have your first week, your second week, your third week, and your fourth week. It's about down here, actually, it's the day after the third week. Three times seven, of course, is 21. So on the 22nd day, what happens is that's the day that everything changes. Because it takes up to the 22nd day for this $0.01 to add up to compound, where you get into the thousand. But on the 22nd day, where this brother, his total added up to 22,000, this brother got paid 22,000 that day alone. And then it was going to be 44 the next day, 88. And see what happens. Those of you all that go into business for yourself, take commission jobs, take the riskier approach, and you're ridiculed in the beginning. Where's the big money now? Big shot. How about that invention? I just got a phone call from a guy named Chris McQuinney. Used to work with us in the business, did real well. Friend of his got a idea on hydrogen power. You know, hydrogen power for cars, hydrogen power for everything. It's that new energy replacement thing. Nobody's been able to find a way of making it and being able to control it. But he had a friend of his, you know, the guy working down in the basement again nine years ago, he came and they said, what should we do for the next step? And I put him in touch with. With a few people, but they were not ready. Sure enough, just today got another phone call from Chris McQuenney. He said, we're at another level. We want to talk to you again. It may be another 10 years, but those are the kind of guys, see, they're working for pennies, spending everything they've got, eating peanut butter. It's those kind of guys that all of a sudden, when it turns around, they're like that kid who sold Tumblr for what, a billion dollars or something? And he started at his apartment up in New York City. You never hear of them until they explode. So that might be you. This is another extension of idea number three. The people that are always looking down the road. And the trick on that is you've got to be able to survive in the short term. So you've got to have some way to have some money coming in. Let's just say groceries. Got to keep those groceries coming in. But if you're looking down the road, you're realizing a better day is coming. Or we're working, nothing's promised. We're working for the better day so that one day our income, our lives can explode. And you want to keep money coming in short term, you got to make sure you cover that, because too many people have been wiped out in the short term. So I'm not saying forget about making money today, but the people who get ahead are looking past today's paycheck and today's activities to what it could bring tomorrow. That's for sure. One of the top 10 things that's inside the mines that trigger what big hitters do that cause them to rise and stay at the top.
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