March 31, 2006, Newsletter Issue #52: The Awesome Power of Leverage.

Tip of the Week

Leverage is the power to control a lot with just a little. Big doors swing on little hinges. In the business world there are five kinds of leverage:

OPM: Other People’s Money. In real estate investing we buy residential real estate with 10% down and yet we control 100% of the property. The classic investment book Nothing Down teaches how to achieve ultimate leverage: how to buy property with little or no money down. Thousands of people have become millionaires using this system.

OPE: Other People’s Experience. It takes too long to learn it yourself, so borrow or learn from others. The easiest way to become rich is to apprentice personally with someone who is rich. Learn all they know, meet all their contacts, and do what they do- do it even better. If this isn’t possible, read their books, listen to their tapes and watch their videos, interview them if possible, and attend their seminars. One idea you can learn can save you 10 years of work effort. Leverage is about maximizing your results in a minimum amount of time. Therefore, absorb lifetime bodies of information and insight- compressed into instant usability just for you- in the forms of books, tapes, CD’s, films, videos, and seminars. This is the quickest way to gain OPE.

OPI: Other People’s Ideas. When Mark Victor Hansen wanted to become a professional speaker, he attended the National Speakers Association meeting in 1974. Cavett Robert, the “Dean of Speakers” and cofounder of this association, talked about how to create multiauthored books. Within a month, Mark had adopted the idea and created a book with Keith DeGreen called Stand Up, Speak Out and Win. They enrolled 14 co-contributors who each invested $2,000 to obtain 1,000 books each. It was Mark’s first zero-cash investment. He capitalized on someone else’s idea to personally earn $200,000 in that year (selling 20,000 copies at $10 each). Your objective is to associate with people who can share with you their powerful moneymaking ideas.

OPT: Other People’s Time. Individuals will sometimes volunteer their time in certain circumstances, but most will sell you their time, talent, connections, resources and know-how relatively inexpensively. Leverage yourself with professionals who are excellent and unique at employing their abilities.
26OPW: Other People’s Work. Most people want a job. They want security, rather than opportunity. Hire and delegate to them everything that you don’t want to or can’t do as well. Leverage yourself through other people and grow.

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