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079: The Golden Rules Of Leverage
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The golden rules of leverage. Hello! My name is David Lee from Instant Internet Identity. Let's talk about leverage. What we talking about?
It's the fact that what we see here is a lady working in her shop, and she is a sole trader. She has to come in. She has to do all the activities of ordering stock, dealing directly with customers that come in the door... deliveries. She's got to handle everything herself, and she doesn't work just 9-to-5. She's got to get in there early. Probably doesn't take a lunch break otherwise she loses business. Has got to stay back after the shop closes and do the cleaning up, do the accounts, the book entries. Probably she's got to do the banking at some time and keep everything just running.
She hasn't got a business. She's got a job working for herself. She's probably working longer and harder than she ever did in her own work when she was working for somebody else. Is that you? So many people translate working for somebody else in a job of employment to having a job of employment for themself. What are you going to do about it?
Now let's look at her situation. She can't do everything herself. How can she leverage other people's time, other people's money, other people's knowledge, to help her? Well, she can only sell to people that walk past the shop front door. So that's the limit of home business.
What if she knew somebody or engaged somebody that could help her get more business that she's not getting are otherwise? It could be in her own town. It could be in her own country. Or, it could be internationally. Now it's business that she doesn't have today.
And what if somebody could show her how to go along that path? She may have unique products that she's got that's unique to her, whatever! But she could start developing her product. It could be, we could be looking at, an organic food store that she sells organic products, as an example.
Now people are interested in the topic. They're interested in why certain products, why certain health foods, are good for you. She could get that person who's working with her to go and develop an online store, to go and develop information products or create an online presence where she does things like webinars, she collects the details of people. And this is totally outside of her realm of thinking if she continues to work like this.
This lady could be like somebody I met. She taught language. I think she spoke... she taught French and she wanted to be able to go from house to house teaching kids after school.
I said, "Is that the only way you can think of doing it ?"
"Yes, what else is there?"
I said, "Why not have an online class? Why don't you do your classes in group? Why don't you develop a series of training modules that's already there online to get students going through your program? So you could still do that online class, but instead of doing it one-on-one, why don't you do it one-on-many?"
It was just beyond her comprehension! She just wanted to keep things simple. So she's restricting herself. Her mentality is restricting her from expanding what she could be doing. Imagine, in case of that example, you had people learning, students, learning a language from all over the world. You have interactions. You have a native-language speaker that comes and joins in with the conversation, and you're having group discussion in the foreign language. So dynamic and very different! You could have things prepared. Lessons, homework done in advance that needs to be done.
When you think like that you're looking completely different to everybody else, and your costs of running our so much less! But you are reaching a greater audience. That is called leverage! That is what I do when I look at your business. How can we leverage your business to generate income that you're not currently generating beyond what you're doing at the moment?
So it's just not a website that I develop. I'm developing business and seeing opportunities perhaps never even thought of before because you leverage my knowledge, my expertise in a wide range of business-development areas, that would save you time and effort and money that you would never have known what to do in the first place.
Thank you very much. My name is David Lee.
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