“Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes
Leverage is a powerful, but often underused tool. It’s the art of amplifying your efforts to achieve greater outcomes with fewer resources.
With Amazon, Jeff Bezos didn’t just set up an online bookstore; he harnessed the power of the internet, a form of leverage, to reach a global audience. This strategic use of technology transformed a startup into a retail giant.
Leverage comes in many forms. It can be technological, as with Bezos; it can be financial, where capital is used to expand and grow; or it can be through people, leveraging skills and networks to reach new heights.
As entrepreneurs, our challenge is to identify the forms of leverage available to us and integrate them into our strategies. This means being open to new technologies, seeking out funding opportunities, and building networks that can provide support and open doors.
Action Step: Identify a form of leverage that you’re currently underusing in your business. It could be a new technology, a networking group, or an opportunity to obtain funding. Make a plan to incorporate this leverage into your business strategy over the next week.
The effective use of leverage can transform an entrepreneur’s vision into reality. It’s about multiplying your impact and reach, making strategic moves that propel your business forward. By recognizing and employing different forms of leverage, entrepreneurs can create impactful and enduring businesses.
For a deeper understanding of how leverage can transform your business, be sure to check out our book of the week: “The Almanac of Naval Ravikant” by Eric Jorgenson.