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What makes them so fascinating?
I have a theory – see if you agree:
Even as kids we love to see big things move with only a tiny effort required. There’s a powerful feeling that comes from it.
That business principle can make you rich.
“Leverage” is quickly becoming one of my all time favorite words in business.
Leverage (my definition): Gaining significant advantage by creatively choosing the right tool, strategy or partner for the job and then applying minimal effort to achieve substantial results.
Kids just get it…minimal effort…big results (that’s why they whine).
I’ve come to realize that the greatest business opportunities available to me are NOT the opportunities that I strive to pursue on my own by brute force and individual effort. That approach is like chopping down a tree with my bare hands.
Instead I seek out opportunities to apply a small effort to the right tool (or idea) at the right time in order to propel my business forward exponentially. Better yet, I find other people that have the skills that I lack and then put them to work (in partnership) building something that benefits everyone involved.
A story is told about the legendary entrepreneur Henry Ford that drives home this lesson VERY well. While being interviewed, a reporter was attempting to corner Mr. Ford by asking him a series of highly technical questions. Mr. Ford quickly found his answers to each question by picking up the phone and asking his most qualified partners and employees for assistance. He told the reporter, “I don’t need to know all of the answers to run a successful company. I have people around me to answer these questions so I can concentrate on steering the ship.”
I would argue that the best leaders (presidents, CEOs, pastors, Mayors etc.) are not the people that are full of vast amounts of education, training and personal knowledge that they continually draw from to make decisions. Instead, it’s the leader that has the best “team” that is best suited to lead.
Want some modern examples of leverage from my business?
- A very recent example. OfflineBizCards.com just launched. It’s a new website of mine that didn’t cost me a dime to build or a minute of my time to launch…but it’s providing a great service to my customers, and it’s making me money. David Frey built the site entirely for me and GAVE it to me. Why? Because my large customer base at OfflineBiz.com NEEDED a service like this to help them grow their businesses. David is leveraging his relationship with me and offering a valuable service to my large OfflineBiz.com customer base. I benefit by getting a percentage, and my customers benefit by getting a great leverage tool of their own. All parties involved are applying leverage in this scenario.
- Any given day I can drop an email to any or all of the tens of thousands of people that have opted to receive my educational and informational email messages. I sell things too – but only things that I fully stand behind because I know they are potent, relevant, and fairly priced. I’m using email as an email powertool (perhaps the BEST business leverage tool ever invented)
- If my newsletter and membership websites were based entirely on MY personal knowledge of business they’d be far less useful (borderline useless), but instead I pull in partners and customers that “get it” and together we build a community based on relationships and combined knowledge. Now that’s something worth paying attention to!
- I love “ebooks” because of how easy they are to leverage. Customers can order (with the push of a button) and instantly get access to the book – even if it’s something I wrote a couple years ago. I applied effort once, and achieved massive ongoing results. That’s leverage.
- This blog article (writing ANYTHING online actually) is a tool of leverage. Years after I’ve written it, it will still be working for me…drawing people to my site, my brand, my products etc.
How are you using “leverage” in your business? How else have you observed others using it? Have a question or comment about any of this? Click the comment button above to see what others have to say, and leave your own ideas as well.