The Secret to Building Wealth
Let me ask you a question... would you consider yourself a hard worker? Chances are (considering the fact that you opened this article) you are. Let me you another question... with all the hard work you're putting in, are you where you want to be financially? If not, there is a principle that you must learn to apply... Leverage.
You see, there is only a certain number of hours given to us in a day. And we're human, so there is a limited number of things we could accomplish in one day. Knowing this, you must learn to leverage whatever knowledge and tools that you can to put yourself on a much quicker track towards wealth.
Compound interest would be an excellent example. When your money is earning a high rate of return, your money is basically working for you. Instead of you working for your money, your money is working for you. The more you save, the faster it grows.
Another great area to consider would be technology and the internet. Did you know that you can practically automate your entire business? Getting more and more prospects, presenting your product and closing the sale, and even follow up. These are all tasks that can be automated and ran over the internet. The most beautiful part is that your business can run while you sleep!
You can even learn to leverage the tough times, like this recession that we're going through. The marketplace isn't doing too good and it's the best time to buy. Usually what happens on the downturn of the market, everyone starts to sell. The should have sold when it was high but waited too long and lost. There is only a small percentage of people who actually BUY in these types of times. Buy cheap, sell high. Very simple rule and the perfect way to leverage the downturns of the market.
I think the most powerful source of leverage is knowledge. Did you know that 50% of the people that graduate from high school NEVER read another book? And from the ones who went to college, 80% never read a book after. It doesn't take much to beat the masses. Keep growing yourself as a person and growing your value. The more knowledge you have, the more value you can deliver to people. The more value you deliver to people, the more money you'll make.
Try and think about some examples of leverage that you can use to kick your life into a new gear.
