Is This How The Rich Get Richer?
“Give me a lever long enough … and I can move the world.”
Does that quote resonate with you at all?
Archimedes, who said it way back in Greek ancient times, was referring to the amazing power of leverage.
I’m continuing on the theme of time management & productivity this week and thought this quote really speaks volumes … IF you want to become a top producer, build great wealth, or get significant things done!
I met with a very busy Silicon Valley business executive last week who wanted to find more good deals, buy more real estate, and substantially increase her portfolio and net worth.
Her main challenge and why it wasn’t happening fast enough?
Not enough time to find or develop them.
She and her husband are both busy professionals with very demanding jobs … have their own business on top of that … are currently doing a major remodel on their own home … and have 2 young, active kids.
I deal with many investors in the same boat. And lack of time is the #1 challenge I hear most often.
She wanted to know how I could help … and how we could work together.
“Well, we work with our investor clients in several ways”, I said. “One way is strictly as their acquisition arm. We find, secure, and negotiate good deals … and then pass them along for a small markup, and we’re out of the picture.”
“But that means we would have to manage the rehab, and then be responsible for either selling or managing the property, right? I don’t have time for that!”, she protested.
“Ok”, I reply, “that’s why for our really busy investors who just want to write a check and not worry about anything else, we have a joint venture program. We do all the heavy lifting … and they play checkbook. It’s for …”
“That sounds good”, she interjects, “I think that’s what we need!”
So we went into a little more detail about the particulars of our joint venture program.
She was so intrigued with the idea of a joint venture, I never got a chance to mention our third option, which is being a private mortgage lender on one of our personal deals … and earning 8-12% in a safe, secure, and hassle-free way.
Anyway, what this busy Silicon Valley executive is doing is employing one of the ultimate secrets used by the most successful and wealthy people in the world – LEVERAGE.
It’s how they keep growing and expanding. And it’s how the rich get richer.
Don’t hate it. I say emulate it.
Don’t have the expertise? Find and work with someone who does.
Don’t have enough time? Work with what you DO have … and then utilize the incredible power of partnerships and/or strategic alliances.
To become unlimited and grow exponentially, look to utilize the power of leverage in as many facets as you can, including: tools, technology, systems, and PEOPLE.