Introduction

Leverage is the essential success principle that builds wealth. You won’t get wealthy by trading time for money, and you can’t do it all yourself. Building wealth requires you to work smarter rather than harder by applying the following principles of leverage:

Knowledge

Leverage other people’s talents, expertise, and experience so that you can utilize greater knowledge than you will ever possess. That is the secret most top billionaires use. They hire technocrats and experts in different fields and deploy them in bringing out innovative products and solutions for their businesses.

Network

Utilize other people’s resources and connections so that you can expand beyond your own. If you know someone and you can connect to that individual, that individual can connect you to someone he or she knows and so the chain continues.

Marketing

Take advantage of other people’s magazines, websites, blogs, newsletters, radio shows, and databases so that you can communicate to millions with no more effort than is required to communicate one-on-one. We live in a global world where things are as fast as the speed of light. Take twitter for example.

There are influencers on Twitter that have up to 2 million active followers. Let’s say you are connected to 8 of these influencers and they help you to promote one of your products using their twitter platforms. Just imagine the returns on such marketing leverage.

Time

Leverage other people’s time so that you’re not limited to 24 hours in a day. If you are connected to two persons who are willing to help you with your business, what it means is that rather than you have just 24 hours in a day, you now have 72 hours in a day, because those two other persons are working for you. You are making use of their time.

Finance

Utilize other people’s money so that you’re not limited by your finance. Entrepreneurs can access other people’s funds when starting their own business. These financiers have the funds, but you have the idea, so you leverage their finance to achieve your goals.

Leverage allows you to build more wealth than you could ever achieve alone by utilizing resources that extend beyond your own. It allows you to grow wealth without being restricted by your limitations. Leverage is the principle that separates those who successfully attain wealth from those who don’t. It’s just that simple.

If you aren’t using leverage, then you’re working harder than you should earn less than you deserve — and that isn’t going to make you wealthy.