There's a thin line that separate sucessfull business owners and struggling ones and this includes learning the art of leveraging. In this article our hope is to introduce you to the concept and give you pointers that you can implement right away to help your business grow.
What is leverage?
In simple terms it refers to the exponential growth of resources to allow a business to perform at it's best saving both time and money. This concept is very pivotal to the success of each and every business, which explains why a lot of startups have failed to remain operational for more than 2 years - they failed to master the art of leveraging.
It's not a secret that for a business to succeed you need the right people on-board that are going to drive your vision forwars. You only have 24 hours a day and this means that you have you use your time wisely - prioritizing the things that matters to you the most including your personal life. In order for your business to grow, you have to delegate tasks to others. Hire people that are very good at sales and closing deals, graphic designers, marketing experts etc.
Every business has to be backed by people that have tasted the waters and have acquired enough experience to propel the business to the right direction. As much as having a strong online presence and a dedicated customer service website, it's also recommended that you complement those tools with professionals to make the dreamwork.
Funding and loans
Debt isn't always negative. Borrowing money from the bank to build a warehouse that is both going to save you money and time is a good business decision that will yield excellent results in the long run. On the other hand, when you borrow money for useless stuff like company esthetics, you are digging a deep hole for failure. You must be able to differentiate the two and choose one which will leverage your business.
We hope this article has opened your eyes about the power of leveraging and you now better understand the concept. Let's keep the conversation going on the comments section below, we'd love to hear from you. For more insightful articles like this one published daily, hit the follow button and be on the loop.
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