SpeedWealth Principle #6: Leverage by T. Harv Eker

T. Harv EkerMaking money is easy once you understand how to leverage yourself T. Harv Eker’s SpeedWealth – How to Make a Million Dollars in Your Own Business in 3 Years or Less. Part 6 Each month, TheNetworkMarketingMagazine.com will be bringing you a complimentary article from the newly updated edition of T. Harv Eker’s bestselling book, “’SpeedWealth’” – How to Make a Million Dollars in Your Own Business in 3 Years or Less,” which outlines 8 principles that will help you massively grow your business. LEVERAGE means doing MORE with LESS. It’s not so much a “what” you do, but rather a “how” you do it. Leverage uses specific tactics and strategies that allow you to work smarter, not harder. NULL

Leverage starts with replacing yourself or much of what you do personally. Constantly ask yourself, “How can I provide people with my value, my products or services, while I sleep?” When you can answer this question and execute the answer, you’ve got it made.

One common way to use leverage is tapping into the power of the Internet and social media to reach thousands – even hundreds of thousands – of fans and potential customers for very little money.

Rather than selling your products in bulk to companies, you could sell licensing rights to your products. This would allow your customers to choose their own suppliers, giving them full control of product quality and lowering their costs.   Another form of leverage is add-on and repeat sales, where you create additional products that complement the original product or service you sold. One of my students sold a DVD on “How to Paint Your House.” He developed additional DVDs on topics like how to paint decks, rain gutters, and outside doors.   One of the most powerful ways to leverage is to fully utilize your database. Supporting your customers with additional products and services, giving them reasons to return again and again produces extremely high profits because you’ve already paid the high cost of getting the customer the first time. These are called back-end sales.   Yet another exciting form of leverage is partnership marketing or joint venturing. This is a synergistic relationship that allows each company to leverage each other’s brand and customer goodwill. That’s why “partnership” marketing is popular today and will become even more popular in the future.

There are dozens of ways to use leverage in your business. If you’re not using leverage, you’re working too hard and earning too little!

To read the more on this principle, and all 8 SpeedWealth principles, get your copy of the entire book for FREE by going here >> https://mmi.infusionsoft.com/go/sws/mmi19562/

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