Full transcript
0:00hey everyone Sam ens here and in today's
0:02video I want to tell you about the
0:03compound interest of success now I'm
0:06sure you're aware of compound interest
0:08of money where you know you put money in
0:10a bank account you earn interest on that
0:12money then that interest adds to the
0:14principal and then you earn interest on
0:16that new amount and what happens over
0:18time is you know it starts to grow and
0:21increase exponentially and Albert
0:24Einstein said that one of the greatest
0:26inventions of mankind was compound
0:28interest well what's cool about compound
0:31interest is it doesn't just apply to
0:33money it applies you know to a lot of
0:35different areas in life and it's due to
0:38something that's called positive
0:39feedback loops now if you don't know
0:41what positive feedback loops are you
0:43should look them up they're you know
0:44they're really fascinating things and it
0:46explains a lot a lot about you know the
0:49world and why it is the way it is well
0:51what a positive feedback loop basically
0:53is is it's a loop where you know a small
0:56change has a compounding effect so if
0:59you have money in a bank account you
1:01earn interest on that it comes around
1:03and it adds again and then you earn
1:05interest on that new amount so it
1:07compounds and grows exponentially over
1:09time well positive feedback loops you
1:11know don't just apply to money in a bank
1:13account they apply to a lot of different
1:15things and a couple of examples are you
1:17know you can probably think back to when
1:19you were at High School in in a sports
1:21team and there would have been one kid
1:23in that sports team who had a slight
1:26advantage and who was slightly better
1:28than everyone else in the the sports
1:30team well you know that slight Advantage
1:33at first would have just been small but
1:35what would happen very quickly is the
1:37coach would favor that kid he would give
1:40him more of his attention during
1:42trainings he would get preferred
1:44positions in the sports team he'd also
1:46get more game time he'd also get more
1:49support from the sidelines and more
1:51support from his own team members and
1:54you know that small Advantage just you
1:55know attracts more success and over time
1:59that starts a compound you know as his
2:01teammates and his coach tells you know
2:04tells him that you know you're really
2:05good he starts to think I'm really good
2:07starts to play better and then that you
2:09know that increase gets bigger and
2:11bigger and it just keeps compounding and
2:13compounding and this is how you know
2:15superar athletes get to where they are
2:17they start with a small advantage and
2:20then due to positive feedback loops you
2:22know it starts cascading and compounding
2:24over time now another completely
2:26different example just to explain you
2:28know how positive feedback loops work is
2:30you could have a pond with goldfish in
2:33it and if there is one goldfish that has
2:36a slight size uh advantage over the
2:40other goldfish just ever so slight well
2:43that goldfish will be able to fight off
2:45other goldfish when they're being fed
2:47food and he'll be the leader you know in
2:49that pond which will mean that he'll
2:51have access to more food and you know
2:54over time he'll grow exponentially and
2:57scientists have done studies you they
2:59look at a they look look at a pond full
3:00of goldfish or the you know they look at
3:02a group of animals and the one that has
3:05the slight size increase if they come
3:07back in a few months that animal has a
3:10huge size increase and this is due to
3:12positive feedback loops you know the
3:14same thing that's going on with money
3:16and interest in your bank account now
3:18why this is important to you and there's
3:20a point to this video today why this is
3:23important to you is there is you what
3:26you've got to understand is you only
3:27need a slight increase in a slight
3:30improvement over everyone else or your
3:32competition before positive feedback
3:35loops start to take effect you know if
3:37you're in a sports team or if you're in
3:40business or if you're a consultant or
3:42anything or if you have a software
3:43product you only need to have a slight
3:46Edge over everyone else before positive
3:48feedback loops start to take effect my
3:51advice to you is you know whatever
3:53you're in whether at sports whether you
3:55know you've got a job or whether you've
3:57got a business is instead of looking at
3:59you everyone that's at the top and
4:01thinking wow they're so much further
4:02away from me just look at what you can
4:05do right now to get a slight improvement
4:07over everyone else because I can tell
4:09you that positive feedback loops will
4:11distort that Improvement that you have
4:14over time and you'll start to earn
4:16compound interest on your own success so
4:19that's it for today's video and what I
4:21want you to do this week is go out there
4:23and you know get an edge in whatever it
4:25is that you do now if you're watching
4:27this video anywhere else other than my
4:29blog go to Sam ens.com right now that's
4:32where more videos like this are and
4:34that's where the comment section is and
4:36if you've liked this video what I want
4:37you to do is hit that Facebook like
4:39button and leave me something in the
4:41comment section I check all of the
4:43comments myself and I respond to them
4:45thanks for watching