The most powerful concept in business that is least discussed is leverage. By definition, leverage (verb) is simply the use of something to maximize advantage. The act of leveraging, in the business and finance world, plays a particularly important role and comes in many different forms. It can be by using other people’s time to accomplish your tasks, giving you time freedom. It can be by creating systems and using technology to increase productivity, grow your business and build wealth. It can be your leveraging credit, the difference between being in business and staying in business. Essentially, leveraging, at some point, is necessary to allow you the freedoms we all desire.
Solomon realized his leverage was financial literacy. Spanning across information, experience, and exposure he realized he could serve and impact more people than he could by simply providing a service to. After being able to help clients access and achieve over 40 million in funding through Fresh Start Financials Group, he launched a step-by-step blueprint (book) and an exclusive mentorship program, both titled “Leverage Over Everything”, to pour into the community of entrepreneurs and provide on-going support and guidance from his own financial shortcomings. His four step leverage model includes (1) optimizing your personal credit, (2) building business credit, (3) getting funding, and (4) buying passive income. Since the launch earlier this year, the group has already been very successful in collectively achieving millions in funding approvals that they use to grow and scale their businesses and invest into vetted leveraged investment such as Amazon and Shopify Automation.
Knowing and Understanding Where You Stand.
Simply put, leverage is the advantage that exists when a person or group has the upper hand. They may have achieved this advantage from a variety of means including a greater knowledge or experience base, exclusivity in a particular market, more exposure, more capital, lower pricing, better service options or even superior relationships.
It’s critical that you have a clear understanding as to where you do and do not have leverage. Assess each scenario to determine if you or the other party has the greater need or want and who will essentially provide you more value, bang for your buck, if you will. If the group is in need of something that only you possess, you can use leverage your value (i.e. product) for better pricing. If you don’t have that exclusivity, you’re likely missing the leverage required to achieve your elevated price. Now, there are surely situations where that may not be so clear, but it’s important that you constantly assess your position of leverage and adjust accordingly.
Here’s a safe assumption: If you’re unsure whether you have the leverage in a particular situation, you don’t. It’s always better to know that you lack that advantage than to be unsure as to where you stand, because at least then you can make more informed decisions as to your next best move.
Always Find Your Way In
If you don’t have proper leverage in your given circumstance, go and find it! Start with understanding the motivations of the person you’re working with and build additional value by solving their problems or exceeding their needs.
For example, if you’re selling a product that’s not popular, some would assume you don’t have any leverage because everyone doesn’t know about it, but that could very well be your way in. Your value proposition to the customer is that they are purchasing an exclusive and limited product. The leverage is in the scarcity as opposed to excess (supply and demand). Think back to the first launch of the Lamborghini Urus in 2018, only 1,000 were made. Because of the exclusivity of their products (leverage), such luxury manufacturers are able set such high prices, limiting access.
Another example, purchasing a home. People leverage their credit everyday to purchase and invest in real estate. By borrowing money (loan) from the bank, you’re essentially using your leverage (credit) to buy an asset.
Use your leverage responsibly while creating win-win situations. That’s the Leverage Over Everything way!
Leverage Over Everything Book : https://leverageovereverything.com/book
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