Metaphorically, building wealth can be like baking chocolate chip cookies.
There are MANY different recipes, and sometimes slight variations. There are key ingredients that everyone knows about, and then there is always that secret ingredient that makes the “AHHH” factor.
Of course, not everyone is alike.
You have to find your perfect combination and proportions.
Creative Thinking (they consider out-of-the-box ideas)
Courageousness (they are unafraid to go into the unknown)
Perseverance (when things get tough – they keep going)
Resourcefulness (they are constantly seeking solutions)
The secret ingredient of the wealthiest and most successful is the use of LEVERAGE.
Leverage is defined as…
1. the exertion of force by means of a lever or an object used in the manner of a lever.“my spade hit something solid that wouldn’t respond to leverage”synonyms:grip, purchase, hold; support, anchorage, force, strength.
“the long handles provide increased leverage”
- mechanical advantage gained by using leverage.
“use a metal bar to increase the leverage”
- the power to influence a person or situation to achieve a particular outcome.
“the right wing had lost much of its political leverage in the Assembly”synonyms:
influence, power, authority, weight, sway, pull, control, say, dominance, advantage, pressure; informal clout, muscle, teeth, bargaining chip.
“the union’s leverage at the bargaining table”
2. Finance the ratio of a company’s loan capital (debt) to the value of its common stock (equity) or the use of credit or borrowed capital to increase the earning potential of stock.
verb: leverage. 3rd person present: leverages; past tense: leveraged; past participle: leveraged; gerund or present participle: leveraging
1. use borrowed capital for (an investment), expecting the profits made to be greater than the interest payable.“a leveraged takeover bid”
2. use (something) to maximum advantage.“the organization needs to leverage its key resources”
3 Tips To Learn To Leverage in your Business Most Effectively:
1. Time Leverage
How can you leverage your money to buy more time
2. Knowledge Leverage
How can you leverage your resources for knowledge?
3. Money Leverage
What assets do you have that you can leverage to build the next wealth generating idea?
Are you looking to maximizing your results in your business?
I specialize in mentoring high performing entrepreneurs to grow a 7 figure+ net worth while feeling balanced in life and business.
Let’s have a conversation.
Call me directly @ 231-838-4353 or click here to set up a call.