The Power of Leverage: How To Get More Done In Your Business With Less Effort
Whether you're a seasoned entrepreneur or just starting out, adding leverage to your business is the game-changer. It’s what allows you to get more done with less effort and resources, so you can maintain and scale your business in the long run.
So what exactly is leverage and how can you start applying it to your business today? Read on to find out!
What Is Leverage?
I remember when my mindset finally switched from running my business to scaling my business. It happened once I consistently made enough money each month to not only cover my business expenses, but also enough to actually pay myself.
With that shift, I valued my time waaayy more so I was more motivated to add LEVERAGE to my business so I could keep my momentum going.
But what does leverage mean?
“Leverage is about implementing strategies and systems that maximize your output and get you greater results with *less* effort and resources.”
When you add leverage to your business, you’re able to increase your impact, scale your operations, and generate income beyond the limitations of trading your time for money.
Different Types Of Leverage in Business
There are several types of leverage you can apply to take your business to the next level:
Knowledge Leverage
Knowledge leverage involves maximizing how much you can share and apply your expertise to create value for your audience.
This includes:
Packaging your knowledge into Digital Products (like Digital Downloads, Group Coaching Programs, and Courses) in order to reach a wider audience and generate scalable income.
Sharing your knowledge through content creation, (blog posts, videos, or podcasts) to establish yourself as an authority in your niche and attract a loyal following.
Collaborating with other experts or influencers (thru interviews, summits, joint ventures) to tap into their knowledge and expand your reach through their audience.
Financial Leverage
Financial leverage involves securing investments, taking out loans, or utilizing crowdfunding platforms to fund product development, marketing campaigns, or business expansion. By leveraging financial resources, you can devote more to marketing, expanding your team, and upgrading your tools. This ultimately leads to more profitability and scalability.
People Leverage
People leverage involves using other people’s skills and time to complete asks that you don’t want (or don’t know how) to do. This can be through paying contractors, hiring employees, or partnering/bartering with peers. You can always start small, like paying a virtual assistant to help out with admin tasks a couple hours per week. Imagine the bigger initiatives you can focus on once that task is off your plate.
Time Leverage
Time leverage involves maximizing your productivity and efficiency so you can accomplish more in less time. When you can optimize workflows, streamline systems, and automate repetitive tasks, you’ll free up valuable time to focus on high-value activities that drive business growth.
Let’s dive deeper into 3 specific ways to apply time leverage to your business.
3 Ways To Better Leverage Your Time When Growing Your Business
Increase Lead Generation With A Lead Magnet
Every business owner should build an email list so they have a warm audience of interested leads who can eventually become customers.
To add leverage in lead generation, create a Lead Magnet (aka a valuable resource) that provides high-quality information in exchange for a visitor’s email address.
When you have a Lead Magnet, you’ll always have a way to incentive your audience to join your email list.
Create it once and re-use it in multiple marketing campaigns. Your Lead Magnet can be an ebook, checklist, guide, workbook, etc.
Below is an example of a workbook I created as a lead magnet for aspiring course creators.
Create Email Marketing Automations:
Set up automated email sequences to engage and educate your leads once they’ve joined your email list. Email automations deliver valuable content and build relationships with potential clients - without you having to constantly monitor your inbox.
My top two email automations to create are:
Lead Magnet Delivery - When someone opts-in to get your Lead Magnet, they should immediately receive an email containing a link to download/access the Lead Magnet. No need for you to manually send them this. Instead, use an email service provider to automatically deliver it for you. I use ConvertKit, an intuitive platform tailored for coaches and creators.
Welcome Sequence - This is a series of 1-3 emails that engage your new email subscribers. The goal of the sequence is to introduce yourself and share other resources that position you as a helpful expert. Again, your email service provider can automatically start sending this sequence after a new lead joins your email list. I recommend delivering 3 emails:
Introduction
Answer a FAQ in your niche
Top tip related to the Lead Magnet the subscriber downloaded
ConvertKit sends out my automated welcome sequence (3 emails) to new subscribers.
Optimize Discovery Calls
If you’re offering free Discovery Calls, optimize your time in 2 ways:
#1) Make it easy for leads to schedule a call with you. Use an appointment scheduler like Calendly to setup your availability. You’ll avoid back-and-forth messages about when you’re free for a call.
#2) Send a questionnaire before the call. You want to spend most of your time during the call vetting if the lead is a good fit to be a client. Send a questionnaire ahead of time so they answer key questions that will help you prep and set the agenda for the meeting.
Some questions include:
What’s your website and social media accounts? (So you can research their background)
What main goals are you trying to achieve right now?
What are the main roadblocks to reaching the goal?
Final Thoughts
Time is so precious!
By leveraging your time more effectively, you can create more efficiency, scalability, and profitability in your business.
Which of these (or other) leverage techniques have you tried?👇
Share if you found this helpful!
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