Leverage is working with another individual to produce a result or action.
You may become successful without using leverage but, you if you aren’t leveraging, it means you are willing to compromise the level of success, speed, and time necessary to get to each level.
“Almost all successful individuals understand the power of leverage”
Questions for self
- What things are you doing right now that really aren’t that important? Or,
- Even if they are important, perhaps someone else could do them for you?
- What service could you offer on trade?
- Could you find a delivery service that saves you the time of picking things up?
- Can you look for an intern who can support your business outcomes?
If money is a factor, get creative.
Leveraging is easy
- Do what you do best. Get others to do the rest.
There’s a difference between leverage and delegation
Your goal is to leverage as much as possible to other people, but to maintain the overall responsibility for achieving the result.
Delegation is taking a result or action you’re responsible for and giving it to someone else without any additional follow-up.
In Leverage, the other individual may do most, or even all of the work, but you’re actively involved by clarifying the outcome needed, checking in and helping solve challenges that may come up along the way.
The 7 forms of leverage
So what are the seven forms of leverage? Well, they are:
- OPM (Other People’s Money)
- OPT (Other People’s Time)
- OPW (Other People’s Work)
- OPE (Other People’s Experiences)
- OPI (Other People’s Ideas)
- Scalable Production & Distribution
- Scalable Customer Base
click here for more details on the 7 forms of leverage
Leverage action steps
- Review your life and business. Determine where you are using leverage and where you are not.
- Apply this summary of leverage points to all of your activities. Identify where you can intentionally implement
more leverage: *Money *Experience *Ideas *Work *Time *Contacts *Other
- Connect with someone who is already a master at leverage and get his or her feedback/coaching on how to expand this concept in your life.
- To maximize the strategy of leverage, you will have to give up your ego. If you want to be the centre of attention, designer, and creator of all that you have, this process will not be as successful.
- Be intentional about creating Strategic Alliances and Joint Ventures, but only JV with individuals or organizations with like-values.
I want to challenge you to double your expectations around your objectives in life — by the end of this week. The only way you can achieve that is by outside resources (leverage). Force yourself to think of all the ways, relationships, and processes that would help you achieve that goal.
Continuously be on the lookout for enhancements and new opportunities to increase your leverage.
Finally, stop doing alone what can be done together — or by ― or with others.
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