The word “Leverage” is borrowed from the world of physics and has been Incorporated into the business vocabulary to mean achieving incredible results with little application of effort. It also means producing great results by using the little resources you have either in your life or those available in your environment.
In my personal research, I have not seen any man nor any company that ever succeeded without utilizing the power of leverage. The successful folks realized they needed leverage to succeed so they hire not just anyone, but the best and they use them to accomplish their own personal vision while paying them about 10% of their worth and take the remaining 90% as profit.
For oil companies and other big companies to pay its employees, they ensure that you have worked to make about ten times of the money, then you are paid a portion of it as a salary/wage, this is purely leverage. They leverage on the people’s talent, time, experience and knowledge to make their profits while they pay them peanuts for survival. The wealthy and successful know that to be successful, other people must succeed through you, so they go into employing people, pay them less than their time worth and use them until the people become useless, then they retire them and look for another fresh, viable and young chap to replace them and the process goes on and on.
A WISE MAN ONCE SAID:
“To be successful and great, follow the path of the successful and great men”. So if these successful and great men and companies utilizes this great power of leverage, then what are you waiting for.
In my book titled, “The price for ultimate Excellence: The millionaire with a first classf degree, I mentioned there that there are seven forms of leverage that you can develop and these forms of leverage are often available to us on asking.
OTHER PEOPLE’S KNOWLEDGE:
What you want to accomplish in life has already been done by a few people because these is nothing new under the sun. But if you think that no one has done exactly what you are trying to do, then check well and you will discover that they have done something similar to it. To succeed then, you must leverage on their knowledge instead of trying to re-invent the wheel or learn everything on your own. Learning from other people’s knowledge bank will accelerate your rate of achievement and help you avoid some pitfalls on the way- because one key price of knowledge applied to your situation can make an extra-ordinary difference in your results. It can save you an enormous amount of money and many hours, even weeks and months of trial and error. This is why successful people are always sweeping the horizons of their lives, searching in books, magazines, tapes, articles and conferences for ideas and insights they can use to help them achieve their goals faster.
OTHER PEOPLE’S TIME, SKILL AND ENERGY:
Highly effective people are always looking for ways to delegate and outsource lower-value activities so that they have more time to do the few things that give them the highest pay off.
To succeed in life, you don’t have to possess all the necessary skills to accomplish your dreams. There are people who have been trained by other companies, & organizations who can accelerate your success by bringing their expertise into your business. So just design your system/business, then hire people with the necessary skills to run them. This will free up your own time to think, plan and work on yourself and on your strategy.
OTHER PEOPLE’S MONEY:
Your ability to borrow and tap into the financial resources of other people can enable you to accomplish extra-ordinary things that would not be possible if you were to pay for them out of your own resources. You should always be looking for opportunities to borrow and invest money and achieve-returns well beyond the cost of that money.
OTHER PEOPLE’S SUCCESS:
You can dramatically improve the quality of your result by studying the successes enjoyed by other people and other companies. Successful people usually have paid a higher price in money and emotion, difficulties and disappointment, to achieve a particular goal. By studying their successes and learning from their experiences, you can save yourself an enormous amount of time and trouble.
OTHER PEOPLE’S FAILURES:
Benjamin Franklin once said, “Man can either buy his wisdom or borrow it. By buying it, he pays full price in personal time and treasure, but by borrowing it, he capitalizes on the lesson learned from the failures of others.” Many of the greatest successes of history came about as the result of carefully studying the failures of other people. In the same or similar fields and then learning from them.
OTHER PEOPLE’S IDEAS:
One good idea is all you need to start a fortune. The more you read, learn, discuss and experiment, the more likely it is that you will come across an idea that, combined with your own abilities and resources, will make you a great-success in your field.
OTHER PEOPLE’S CONTACT OR CREDIBILITY:
Each person you know, knows many other people, many of whom can be helpful to you. One introduction to one key person can change the entire direction of your life.