first kind is where you go borrow money or finance something and hope that what you spend the money or the credit on can help you pay what you now owe. A lot of people abuse this kind of leverage and get themselves in big trouble with it. The second kind is massive upside leverage. Leverage marketing is comprised of looking at all the aspects of your business in terms of how many more ways can you leverage up while minimizing risks. So you think about how you can get more out of . . .
- The people you work with or who work for you . . .
- Your processes . . .
- Your marketing promotions . . .
- Your products . . .
- Everything you pour time or money into
There’s two ways of thinking: You optimize or you sub-optimizeYou want to look to optimize according to impact. Focus on optimizing the aspects of your business that are going to make the biggest difference. This begins with identifying all of your impact points and each of their importance. There is a band of variation throughout all performance-based processes. You want to isolate these processes and then you analyze how people are performing each of them. You want to figure out who are the highest performers of each process and find what they do different and then you want to teach to everyone else. If you raise everyone else’s performance with this process as a result of doing this and ￼you do this over the span of multiple processes, you’ve impacted your results ￼geometrically. You’re ability to affect your processes is a form of leverage.
“A business not consistently examined is not worth owning.” – Socrates AbrahamAlmost nobody is gifted enough to have reached an optimal performance on the very first thing they tried. And yet almost nobody is willing to test and experiment beyond the 1 or 2 things they learned to do when they got into business that they’re comfortable with because they’d rather deal with the devil they know than the one they don’t. Most people either fail or are mediocre because they are scared and lazy and they settle for staying that way. Optimization relies on you having a clear understanding of all the strategies and tactics available for you to pursue. Optimization isn’t possible if you aren’t aware of a broader sense of all the options that are open to you – for offers, markets, reducing risk to you and your customers, media, etc. ￼]]>