Leverage is all about doing more with less. It’s about getting more from yourself, your team, your time, your technology, your environment and most of all your business. When you get down to it, leverage is simply about taking advantage of everything at your disposal.
Leverage is an advantageous condition of having a relatively small amount of cost yielding a relatively high level of returns. Once you are leveraging your business by having systems in place you will continually get a return on your investment of your initial time and planning. This initial investment of time hits a break-even point and continues to pay you dividends for many years to come.
With leverage, you divide and multiply. Leverage is like a pie with eight slices. Take one slice out representing one area of your business, create systems for that area, train your team properly on those systems, master this process and then put that slice back and focus on a new area of your business representing another slice. Follow this process and you will continually be polishing up all areas of your business.
Several areas of Leverage to consider for your business.
People Leverage is using other people’s talents, skills, contacts, credibility, and resources.
Technology Leverage is fully utilizing the latest technology to increase your speed and efficiency.
Time Leverage is managing your time more effectively.
Structure Leverage – Getting the right people in the right places, with the right plan, will move the business away from people dependency to system dependency.
Organizational Chart Leverage – Getting the right people in the right places starts with knowing what the right places are.
Position Contract Leverage – Giving a clear picture of their roles and responsibilities will help them achieve more.
KPI Leverage – Key Performance Indicators – You can’t manage what you don’t measure.