Combining Your Efforts
Many very successful, rich people make a lot of money through multiple streams of income. For instance, they may own a business and a lot of rental properties; they may own a huge business and lots of rental properties. While this is very good and these people can become very rich, they can still yet break through to another level.
If they want to break through to the next level, they must combine their efforts. Why? Let us first examine the process of growing these fortunes from the beginning.
Compare these income streams to snowballs. In the beginning, there was nothing but snow. The business owner had to pack, with his hands, the snow into a ball shape. He proceeded then to push the ball on the ground so that it would pick up snow as it rolled. It required his effort to push it every step of the way. Slowly, though, the snowball would pick up momentum, and soon it would be rolling by itself.
When it rolls on its own, it still requires attention from the owners, for they still have to steer the ball and make sure it does not go off course.
All this becomes a problem when you have three balls, you cannot steer all three at once. So, your real estate is taking off, and you have your business taking off. You are going to have to sell one and put the money into the other, because you cannot focus on both of them at the same time. This is why it is important to combine them early in the game.
The founder of McDonalds, Ray Kroc, did this. He actually, surprising to many, owned two companies, his restaurant business and a real estate business. Instead of taking the approach that other real estate investors take, where they buy a property and have a tenant pay them rent each month, he had those who bought his franchise also buy him the property and pay him rent for it.
Ray Kroc was able to achieve this because he combined his snowballs. From now on, he will work on one of his ventures, the restaurant, and it will automatically generate for him assets in his second venture, the real estate business.
If you have multiple snowballs, so to speak, you must combine them. Focus your efforts.
If they want to break through to the next level, they must combine their efforts. Why? Let us first examine the process of growing these fortunes from the beginning.
Compare these income streams to snowballs. In the beginning, there was nothing but snow. The business owner had to pack, with his hands, the snow into a ball shape. He proceeded then to push the ball on the ground so that it would pick up snow as it rolled. It required his effort to push it every step of the way. Slowly, though, the snowball would pick up momentum, and soon it would be rolling by itself.
When it rolls on its own, it still requires attention from the owners, for they still have to steer the ball and make sure it does not go off course.
All this becomes a problem when you have three balls, you cannot steer all three at once. So, your real estate is taking off, and you have your business taking off. You are going to have to sell one and put the money into the other, because you cannot focus on both of them at the same time. This is why it is important to combine them early in the game.
The founder of McDonalds, Ray Kroc, did this. He actually, surprising to many, owned two companies, his restaurant business and a real estate business. Instead of taking the approach that other real estate investors take, where they buy a property and have a tenant pay them rent each month, he had those who bought his franchise also buy him the property and pay him rent for it.
Ray Kroc was able to achieve this because he combined his snowballs. From now on, he will work on one of his ventures, the restaurant, and it will automatically generate for him assets in his second venture, the real estate business.
If you have multiple snowballs, so to speak, you must combine them. Focus your efforts.
About the Author:
Cody Scholberg, an expert author on finance, writes about money making ideas and ways to make money with MLMs.