Leverage - An Underused Wealth Principle
Understanding Leverage
Man, I started this post over about 5 times – Mainly because I didn’t know what I wanted to share with you today. As more and more time slipped away, I began to think about how I could have made my life easier. Could I have planned better? Could I have spent more time researching? As a result of that thought process, leverage came to mind. Today, I want to share what leverage is and why it’s necessary as an entrepreneur to understand and apply the concept!
What is leverage?
If you’ve been around me for more than 5 minutes, you know I have to make sure the definition of a term is understood before the concept. Leverage defined: to use (a quality or advantage) to obtain a desired effect or result. That simply means that you are able to use the same or less to do more. Leverage is a term used quite heavily in the business world, but I think rarely applied – as in my case with this blog post. I’ll explain about that next. In today’s post, I’ll show you the areas in which you can apply leverage to make your business better.
Leverage Resources
Use the resources you have, regardless of how limited, to your advantage. The Bible says, ‘if you will be faithful with little, you will be faithful in much. For my content, instead of wasting an hour with ‘nothing’ to share with you, I could have leveraged a resource like the MLM PLR Store. That would have given me something to share AND saved oodles of time. Lesson learned. Take stock of the resources you have, and make the most of them.
Leverage Time
You’ve heard the saying that time is the great equalizer of us all. We all get the same 24 hours per day, 7 days per week. However, we can leverage other people’s time. The leverage light bulb went off for me when I realized I was the ‘leveragee’. [Don’t know if that’s a word, but you get the point]. One of the jobs I had was as an Administrative Assistant. It was a great job! I worked for an awesome neurosurgeon at a prestigious medical school. In exchange for a wage, I took care of travel arrangements, organization, setting appointments, submitting studies while he focused on patient care, writing papers, and creating great and wonderful new technologies – all things that will generate income. Lesson: Focus on the activities you have to do personally, and leverage others to complete the tasks that don’t have to be done by you!
Leverage Money
Wow… Here is the biggie, ESPECIALLY, because so many people are hurting financially. USE WHAT YOU HAVE TO CREATE MORE! My favorite illustration of this is the Parable of the Talents in the Bible. It takes a LOT of money to start a traditional business, but there are many opportunities out there which cost little to nothing to start, and the potential for growth is unlimited. You can then leverage the time and efforts of others to grow a profitable business within a year or 2.
If you only have one stream of income – your job – figure out when or IF you’ll be able to retire. A key concept in the wealth game is leverage. The wealthy have already mastered it. What are you waiting for?
Ready to join my mastermind group now?
Love and Faith,
PS. To work directly with my team of effective online marketers, CLICK HERE.
PPS. To access the information I am using to get AMAZING results in my business, CLICK HERE.
LuSundra Everett is the MilSpouse Marketer. She is a married mompreneur of 2. She is passionate about teaching others how to market effectively on the internet including social media, blogging, search engine optimization, and network marketing. On this blog you will find information for all levels of marketers to take your business from broke to ballin'!
Tagged with: increase productivity • leverage • leverage money • leverage resources • leverage time • maximize resources • resource management • Time management • wealth principles
Filed under: business • personal development • Wealth Principles
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Magnetic Sponsoring 7 Day Bootcamp: How to attract prospects to you!
LuSundra Thanks for laying out exactly what leveraging is. That is a buss work in our industry, but no one took the time to define like you so eloquently did. Thanks for sharing great Post.
Daria Jackson-Legagneur recently posted..Build Your List With Empower Network
Great insight Lusundra, the wealthy have for years used leverage of their resources so that they can focus on activities that are going to bring them in money. Why not outsource or use other resources that’s going to help accomplish a goal so that you can focus in on other things that are way more beneficial for producing results. Thanks for sharing!
Chante Epps recently posted..How To Make Your Home Biz So Simple That A Child Can Do It
Hi LuSundra,
The way to true wealth is based on leverage.
Excellent post!
Michael Harrington recently posted..Automate Filling in WordPress Comment Fields
Leveraging Resources, Time and Money! Focus on the things that you can do on your own, which doesn’t eat up all of your time but they make you money. If you can outsource some of your time, do it!! Thanks for sharing these great tips.
Galen Morgigno recently posted..The Handyman’s Best WordPress Security Plugins
Very true LuSundra, Leverage is powerful!
Nathan Gonzalez recently posted..5linx Scam? What People Aren’t Telling You
Hi LaSundra,
terrific definition of leverage: Do more with less. Leverage is what distinguishes humans from the animal world. However, we mustn’t forget that it works either way, especially financial leverage.
Thanks for sharing your insights.
Be blessed
Oliver
Oliver Tausend recently posted..Free Advertising Space For Local Blog Traffic For Your MLM Business
The power of leverage is what drew me to the Network marketing industry in the first place, however I quickly realised that using my own leg work to prospect was nowhere near fast enough to build the business I wanted.
Using systems (like the marketing system we are both with) has been instrumental in taking my business from struggling to profitable in 5 weeks and I have never looked back.
Great post LuSundra,
Nicky
Nicky recently posted..Facebook Marketing Strategies – Did You Miss This?
You must use leverage if you want to accomplish more in life. In a typical job you only get paid when you work, once you stop doing your labour you stop getting paid for the same work you did once, for example an actor in a film gets paid over and over again for just one movie. The main concept here is to work once and then continue to receive income for a period of months, years, and even decades whether you work or not. You can still take advantage from the strength of leverage even if you are not one of those famous people with a degree or Phd.
If you truly want to get rich you need to have a source of income coming to you without you having to work for it. You cannot waste your time working as a slave for a living because there is only a certain amount of hours in a day. The amount of money you earn by working is limited because you only get paid according to how many you do your job. Financial freedom does not come from this type of income. You want paychecks coming into your bank account while you sleep, eat, play, work, and even relax.
Awesome post, LuSundra. Thanks for sharing!
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