Every successful person knows that they need to make the most of what they have.
Leverage means extracting the true value from all your talents, abilities and relationships to create something of lasting, and growing worth.
Here are some examples of how leverage can help you achieve your goals –
1. Leverage your natural talents. Most people end up doing something it takes them years to learn. Why not identify what you do well naturally, and build a career or business round that instead? If you can draw, play an instrument, or can instinctively counsel and mentor others, look to use that God-given ability before setting out on other, less rewarding endeavours.
2. Leverage human resource by effective delegation. Do you really need to do every aspect of your work personally, or can someone else sweat the small stuff while you focus on the bigger picture?
3. Leverage personal relationships to effect introductions to customers and others needed in your business. Your accountant or lawyer will usually have clients who need your products or services, so ask them for some names and referrals next time you meet.
4. Financial leverage, or gearing, can provide funds for you to invest in the future of your business. Don’t be afraid to borrow against property and other assets if you have a product or service you truly believe in.
5. Enhance your value by leveraging your appeal and your reach. A teacher earns £30,000pa because she only teaches 25 children at a time, whereas a sports star can earn millions by attracting fans from around the world. Think what element of your skills and services would excite the most people, and focus on developing and promoting that aspect of your business.
6. Leverage your marketing power by mastering the internet. You can post your products and services online for next to nothing, but the results can be seen by millions. To ensure global success, engage with the “new media” and make sure you understand how the search engines work.
7. Use your existing customers to spread good news for you. Identify your addicts and leverage their loyalty by communicating regularly with them through email or telephone. As author Robert Allen says, ‘Addicts make the best customers. Addicts buy quickly and more often. Addicts talk to other addicts.’
The key to understanding the importance of leverage is admitting that you can’t do everything yourself. No man, or woman, is an island, although you might get to own one if you apply a little leverage!
Have a question you'd like Jon Cooper to address? You can submit it by either adding a comment to this post online or by e-mailing it to jon@jupiterdawn.com
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