The Power of Leverage : Road to Success

leverage on others

‘‘Give me a lever long enough and a place to stand and I can move the world.’’ The Greek Philosopher Archimedes.

His words have universal application and as you will read in this article, you too can use the principle of leverage to expand the reach of your talents and strengths. By fully developing this principle in your career or business, you can achieve vastly more than you ever could on your own.

In their book TurboCoach : A powerful system for achieving breakthrough career success, Brian Tracy and Campbell Fraser talked about the seven forms of leverage that can help you expand the reach of your own talents and strengths. Each leverage involves building on the work, talents, experience, and contacts of other people.

1. Leverage on other people’s energy.

The most productive people make sure they have time for the few things that give them the highest payoff by routinely seeking to delegate and outsource their lower-value activities.

2. Leverage on other people’s knowledge.

Applying one simple piece of key knowledge to your situation can make a big difference in your life. So follow the lead of successful people by reading books, magazines, tapes, articles, and conferences for ideas and insights you can use to help you achieve your goals faster. Thanks to the Internet, the task of researching other people’s knowledge is faster and simpler than ever.

3. Leverage on other people’s money.

Knowing how and when to take advantage of other people’s money by borrowing or otherwise tapping into other people’s financial resources empowers you to achieve things that would be beyond your reach if you relied solely on your own resources. In the world of financial market, many companies have borrowed funds to enable them expand, develop new products or projects. In fact, a firm could be at the risk of takeover if its management failed to leverage on their balance sheet.

You should seek out opportunities to borrow and invest, achieving returns in excess of the cost of the borrowed funds.

4. Leverage on other people’s successes.

Study the successes that other people and companies have achieved to gain insights into their challenges and solutions. Most successful people have paid their dues in terms of money, energy, commitment, and even failure to arrive at the top of their fields.

Do not forget that success always leave some clues. So learn from their experiences and study their success stories to see if there are lessons there that can save you considerable time and trouble.

Do not hesitate to seek out current role models and ask their advice. You may be surprised to find that many people who have achieved success take great pleasure in helping others who are committed to making a mark in the same field.

Once you have realized your own goals, remember to do what you can to return the favor to those coming along behind you.

5. Leverage on other people’s failures.

As Benjamin Franklin 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.’’

History is marked by great successes born of the careful study of the failures of other people in the same or similar fields. The valuable lessons taken from others’ failures can lead the way to better, more informed choices in your own career or business. Watch and listen carefully to the stories some of the world famous failures.

Those who genuinely wish to support you will share with you their failures as well as their successes. Their stories of disappointments and failures can be very valuable to you.

6. Leverage on other people’s ideas.

A single good idea like Facebook, Apple etc were developed with passion and commitment and have given birth to a fortunes. The greater your exposure to a range of ideas gained through reading, studying, interaction, and experimentation, the greater the chance you will come across one that will lead you to enduring success.

The idea can be your own or one that comes to light from your research. Whatever its source, the right idea in the hands of person who is willing to commit energy and resources to developing it can lead to substantial rewards.

7. Leverage on other people’s contacts or other people’s credibility.

Everyone you know has friends, acquaintances, and professional contacts. Many of these people can make a positive impact on your career or business. Among all the people you know or are connected to in some way, who might open doors for you? Who can introduce you to people who will help you achieve your goals faster? One key introduction can make all the difference in your life.

Leveraging on other people’s network is yet another easiest and most cost-effective ways to grow your business.

 

Mastering these seven forms of leverage will give you a tremendous edge toward turbocharging your productivity. Study and, most important, apply the seven forms of leverage. Watch your confidence, influence, and prospects grow!

 

You can read more about other powerful system for achieving breakthrough career success in the book. Grab it on Amazon

Power of leverage

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