Many mistakenly believe that leverage is a pathway to wealth. However, all leverage does is accelerate your gain or you loss.
The only thing you must apply leverage to is VALUE. So before you get carried away hiring a team or outsource suppliers, make sure you have clearly defined and developed your VALUE.
Your style of leverage will depend upon whether you are introvert or extrovert – that is analytical and process oriented, or people oriented.
Introverts create leverage by creating systems and processes that multiple their efforts. It allows others to duplicate their success, of which they take a slice.
Extroverts build a circle of people and attempt to leverage through magnifying their efforts – believing that the more people they have attempting to generate value, the more money they will create. However, having more people performing inefficiently only creates more expense, not more value.
Extroverts are best to concentrate on making things appear incredibly complex to others such that they are seen as unique and unable to be duplicated. This creates demand for their services through a unique brand, leadership or deal making niche.
Introverts are more comfortable working in the background [Gates]. Extroverts are more comfortable being the center of attention and leading the pack. In fact, they have an innate ego-need to do so.
Surround Yourself With Gold
If you want to find a billionaire – find a group of millionaires and look for the person in the center. If you want to find a group of millionaires, find a billionaire and seek out those around him/her.
The wealthy become wealthy by making others wealthy. Their value becomes another persons leverage. The key is to match the person with the innovative value with the person with a system.
Choose one line, one focus and stick to it. Be the product or the provider, not both.