You use leverage to get the most out of yourself. You leverage your strengths and abilities to achieve more than you thought you could.
7 FORMS OF LEVERAGE
- Other People’s Knowledge
One key piece of knowledge can make an extraordinary difference in your results. It can save you an enormous amount of money and many hours, weeks or even months of hard work.
- Other People’s 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 payoff.
- Other People’s Money
Your ability to borrow and tap into the financial resources of other people can enable you to accomplish extraordinary things that would not be possible if you had to pay for them out of your own resources.
You should always be looking for opportunities to borrow and invest money to achieve returns well beyond the cost of that money.
- Other People’s Successes
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 high price to achieve a particular goal. By studying their successes and learning from their experiences, you can often save yourself an enormous amount of time and trouble.
- Other People’s Failures
Many of the greatest successes of history came about as a result of carefully studying the failures of other people in the same or similar fields and then learning from them.
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 lessons learned from the failures of others.”
- Other People’s Ideas
One good idea is what 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 Contacts/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.