Get maximum results with minimum effort. Sounds great doesn't it? The key is leverage. You can get a huge result from relatively little investment of resources. Weather it's time, money or intellect, you only have so much. The key is to use your resources as a lever to really explode your income!
A great example is real estate. You control a relatively large asset with a fairly small investment. Say you have a property worth $250,000 that you got with a $12,500 down payment. Leave aside for a moment the fact you probably could have acquired that property using little or none of your own money. In most real estate markets a realistic annual appreciation is 8%. You would gain $20,000 in value the 1st year alone. You have used the power of leverage to get a staggering 160% annual return on your $12,500 investment! With real estate, you can also get additional leverage from tax advantages and rental income that are available. So it's pretty easy to picture real estate as an example of leverage.
Another example is selling to an account versus selling retail. When you sell to an account, you leverage your initial efforts into a long term revenue stream (the best kind!). It may take more effort initially to close the account sale, but that is more than compensated by the steady sales that can continue to roll in for years. You can now just maintain the account, which takes much less effort than it takes to get it in the first place.
One form of leverage that you just can't afford to ignore is your network of contacts. Weather it's a mailing list or just a social network, you can use your network to meet better suppliers, make sales, generate referrals and find great investment deals. In short, your contacts could be the most valuable form of leverage you have.
Multi-tiered affiliate sales and marketing programs are a fantastic example of leverage. You can lever your effort and money spent to gain your affiliates into a solid revenue stream. The second tier, and beyond if applicable, all give you additional sales through no more investment on your part. If you get productive affiliates, your affiliate tiers could easily generate more revenue for you than your direct sales. Once again, leverage.
Employees are definitely a form of leverage for a business owner. Their efforts are leveraged into revenue, and hopefully, profit for the business. Every dollar the employer pays the employee in compensation is leveraged into a larger dollar amount.
If you aren't using leverage, it's going to be a long haul. You must use leverage to maximize your efforts. Analyze everything you do in your business. Make sure you are leveraging all your resources to achieve your goals. It will be a much shorter climb to the top.
Steve Faber has been successfully marketing both on and off line for years. He has been a principal for a bricks n mortar business that grossed almost $2 million a year. He has been involved with several successful websites for both bricks n mortar and online businesses. You can get his free newsletter with great information to really grow your business at: http://site.liveanotherday.com/newsletter.html
professional maid services Park Ridge ..Starting and managing a small business is no fun chore,... Read More
Every employee would like to earn as high a salary... Read More
A career coach could be simply defined your job seeking... Read More
Start thinking about buying an established business if you want... Read More
Business checks are available in many styles and varieties. They... Read More
Do you own a franchised business? Over 400,000 franchised businesses... Read More
If you're organized, smart, capable and willing to work with... Read More
It's just like a marriageTo expect a bank manager or... Read More
If you own a mobile truck washing, pressure washing or... Read More
"What do you do?" It just might be one of... Read More
I ran a franchise company for many years, a car... Read More
Do you know what your genius work is? It's the... Read More
If you really want to earn more money with your... Read More
I frequently give presentations at small business gatherings, providing me... Read More
One of the biggest excuses franchisees of home based and... Read More
Administrative and clerical tasks are the bane of every industry.... Read More
As you reflect on this year and prepare for next... Read More
You want to know more about making money with your... Read More
Scenario OneDuring a recent presentation, a business owner was given... Read More
When deciding to host a fundraiser for your company or... Read More
Passion. Passion alone can make your business successful. As an... Read More
As a practise gets larger & larger the associated problems... Read More
There's been a recent rise in the number of elderly... Read More
What kinds of things effect mobile service businesses P and... Read More
Summer is a time for the outdoors, for that well-deserved... Read More
cleaning lady near Lincolnshire ..One major issue not being addressed right now in the... Read More
As a company grows, the owner's role begins to change.... Read More
WHEN you are operating or planning a small business that... Read More
Should your business have a toll free number for customers... Read More
How far can you go based on your relationship with... Read More
There is significant competition in auto detailing and car washing.... Read More
Here are some useful tips on how to select a... Read More
All franchises must meet the legal definition of a franchise... Read More
You see it often in large shopping complexes. Customers seem... Read More
How to identify future solutions and opportunities?Your power page, if... Read More
Are you a home or small business owner and you're... Read More
After over 30 years of participating in hundreds of businesses,... Read More
Most small business owners seek advisors who can help them... Read More
One overlooked individual in the process of taking a company... Read More
In this series of articles I'm going to show you... Read More
A solopreneur I know disappears from my radar screen for... Read More
Self-cleaning glass has been talked about a lot, with such... Read More
Completion not Perfection Five Keys To Doubling Your Productivity and... Read More
How far away is the person you need to meet?We... Read More
Do you have a Business Plan? Congratulations, but you are... Read More
There are only a handful of car wash franchises in... Read More
What are the best methods for keeping a good business... Read More
A Mattress Cleaning Business might be just for you if... Read More
Setting priorities in your business? Your first job is to... Read More
Why does consistency in the message have an effect on... Read More
Small Business |