It will allow you to create any business from scratch and also improve any business you presently own. It doesn’t matter whether the business is online or offline, as the same principles apply.
The key component of this system is the concept of leverage.
Leverage, as it relates to business, is the term used to describe how you can utilise a particular resource for your own benefit. Doing so allows you to accomplish things that would not have been possible otherwise.
In essence leverage is:
- Using other people’s time, money, skills, knowledge, equipment and contacts
- Using technology in the form of computers, software and telecommunications
- Using your time, energy and stamina productively to get things done
Once you grasp this concept, you will very quickly realise that virtually anything can be achieved in your business by leveraging the resources available to you.
Having developed your solution into a product or service, your next task is to find a way to deliver it to your hungry market.
A simple way of accomplishing this is to contact a person who is already delivering another product to that particular market and make a deal with them to split the profits. This is called joint venturing, and it’s an exceptionally powerful way to break into new markets that would otherwise have been cut off from you. By doing this you’re benefiting from the goodwill and trust that has already been developed among existing customers, and making a huge savings in marketing and advertising costs.
What you’re doing here is effectively leveraging the contacts and relationships this person has, for your mutual benefit.
By utilising the power of leverage you can:
- Identify a hot market and develop superior products or services that this market is already interested in.
- Develop a business system that will allow you to deliver the product a service that they want.
- Joint venture with other businesses that are already delivering solutions to your hot market and split the profits with them.
Using the power of leverage allows you to stop thinking like an employee and develop the true mindset of an entrepreneur to create the wealth and success you deserve.