.The Flywheel Of Wealth
The Flywheel Of Wealth
(and the importance of patience)
By Rob Berger September 3 2019
His name is Dave. A retired Naval officer, he’s written two novels and about to publish his third. His books (thrillers in the style of Dan Brown and John Grisham) have been well received and even won awards, yet he’s still a relative unknown in the competitive world of fiction.
Her name is Michal. She’s a residential and commercial painting contractor in central Ohio. She’s a natural artist, a trait she inherited from her father and passed on to her daughter. She’s truly gifted, yet has struggled to grow her young business.
His name is Rob. He wants to achieve financial freedom at a young age. Yet, fresh out of college, he has mountains of debt. He makes a good salary, but most of it goes to paying school loans and everyday expenses. He manages to save and invest $100 a month, but feels like he’s making little progress.
These are all true stories.
Dave is Dave Grogan, a friend of mine. You can find his books here.
Michal is Michal Cheney, my sister. She owns and operates No Drip Painting, a company that has enjoyed tremendous growth, but only after years of hard work that seemed to go nowhere.
Rob is, as you might have guessed, me — 25 years ago. What started as $100 a month turned into early retirement at the age of 49.
What do these stories have in common? The Flywheel.
A flywheel is a mechanical device designed to efficiently store rotational energy. Well, that’s how an engineer would describe a flywheel. I majored in English. To me, a flywheel is a wheel that’s really hard to get started. Once it gets going, however, it’s really hard to stop.
Anybody who has taken a spin class and tried to stop the pedals with their feet has learned firsthand just how much a moving flywheel wants to keep moving!
Today, I want to tell you about the flywheel of wealth. Like any flywheel, it can be slow to get started. But once it's moving, it's almost unstoppable.
https://www.youtube.com/watch?time_continue=139&v=GeyDf4ooPdo
The Flywheel and Business
Most young entrepreneurs experience the flywheel. The new realtor struggles to get her first sale. The second sale is just as hard. So is the tenth. As she struggles, she watches long-time realtors get new clients with ease.
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