"Snowballs," are self-growing systems used to accumulate resources that support wealth and professional and personal goals.
Change is essential for growth. At my office the scenery is always changing—whether it’s improving the services we offer, new clients walking through our doors, or even the way the office looks. Along with smart work, continuous evolution is our motto.
My business partner, Chris's first professional job out of college was in a lending department of a bank. Occasionally we will drop into that office to say hello. Although several years have come and gone since Chris’s employment there, very little has changed at the bank. The same employees in the same offices, driving the same cars, working under the same job titles. Even the décor hasn’t changed.
Although constancy is appreciated when it comes to family traditions or a pet’s habit of enthusiastically greeting you at the door, it’s a red flag in a professional context. No one wants to finish their career in the exact same place they started it. That’s the equivalent of a life unlived and a potential untapped.
If things aren’t changing around you, if your professional circumstances and opportunities aren’t evolving, then you aren’t evolving. A snowball can fix that.
Do you have a snowball?
The term snowball means a self-growing system that enables you to accumulate the resources needed to realize your ambitions and goals, whether they are financial, professional, creative, or personal.
Picture a snowball rolling down a hill, growing in size, weight, and momentum. This represents the growing of your resources. Although the expansion of a snowball may begin at a slow pace, the more weight it accumulates over time, the faster it moves and the more rapidly it grows. Apply this concept to your wealth, business clientele, or any other resource, and that’s what having a snowball can do for you.
Having a snowball, or several snowballs, means guaranteed growth and expansion over time—regardless of the field in which you work or where you’re focusing your efforts. It means having peace of mind, knowing you have a back-up resource on which to rely, one that’s continually growing behind the scenes of your operations. Ultimately, it means lasting success and prosperity built gradually and methodically.
Recently, I watched a successful real estate investor give a lecture. There was a riveting moment when he pulled a handful of checks out of his pocket.
“These are rent checks,” he said. “I can never stop them from coming to me. I’ve accumulated these rental properties over time, and am now seeing a massive return on my investment. Given more time, more money will come to me. The best part is that I don’t have to do anything extra in order for these new profits to head my way.”
His statements were impressive. He was a living example of what creating a robust snowball can do for your work, finances, and life.
Real estate investment is a great snowball in which to invest because it’s self-growing and always working on your behalf. If that real estate investor suddenly decided to spend the rest of his days playing chess or lying in a hammock, the checks would still arrive in his mailbox like clockwork. There is nothing he can do to stop them.
There’s tremendous power in a strategic snowball. It can be a game-changer for your business and your life.
Assembling your snowball
Snowballs can carry your experience of success to the next level, so it’s important to recognize where you may already have them implemented in your life and career, and where adding them will create some additional wind behind your sails.
Here are some of the most basic and beneficial snowball structures that can help you build a fruitful business and life:
Database of Customers and Clients: A basic snowball method that should be in place in every business, no matter its nature. When I talk to entrepreneurs about building their businesses, I ask them if they’re working on building a network of clients and contacts. A lot of them say yes, yet they have no actual client database. If you can’t pull up a contact database, or another physical organization system, then you’re not strategically building anything. Bottom line: you don’t have a snowball structure in place for building your customer base. This is a mistake no businessperson can afford to make.
E-mail Marketing: An incredibly effective, low-maintenance tool that will offer you exceptional leverage if you use it consistently. My customer database shows that I’ve sent a total of 258 e-mail broadcasts to my contacts since I started using this particular system, which is about one e-mail sent out each week over the last five years.
Sending out an e-mail broadcast doesn’t require a heavy time commitment, but the implications of connecting with your customers every week for five consecutive years are huge. Because I was consistent with the e-mail broadcasts, even in the beginning stages when I wasn’t seeing any tangible gains from sending them, I am now experiencing phenomenal results that are continuing to build exponentially as this snowball gains more momentum and traction.
Income-Producing Real Estate: A fantastic snowball opportunity. The residential rental property, in particular, is a great option. It pays rent monthly. This rent increases annually, and the property's value appreciates substantially over the long run. Plus, there are tax benefits!
Compound Interest: Einstein is rumored to have said, “Compound interest is the most powerful force in the universe.” Whether Einstein said this or not, no one can deny the power of investing in a compound interest framework. If you invested $25,000.00 at an 8 percent compound interest rate and let it mature for twenty years, you would end up with $116,523.93—an amount over four times greater than your initial investment.
The longer your money is invested, the greater the return you’ll have on it. As with all snowballs, timing is crucial. The earlier you start this snowball, the more gains you can experience.
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