THERE are abundant benefits most of us can get from utilizing what we have when we want to gain revenue in business.
Leveraging helps you unlock new opportunities by learning to rely on the resources that you already have at your disposal which could help you overcome some of the challenges that one may face in life.
In today’s article, we encourage readers particularly prospect entrepreneurs to learn how to use what they have to earn income. In short, leverage means expanding your rewards for every investment or effort that you put in by applying concepts that are rewarding. This could be a natural talent or skill that you already have.
You can use your talent and skill extensively and add a bit of creativity to it to make the most out of it. When you do so, you are likely to gain revenue from it without any apology.
You can also leverage on your education to teach others in universities or colleges by sharing the knowledge that you have acquired.
This opens you to the cutting edge of a lot of things such as research and other areas that require your expertise.
From our skills, we can accomplish a lot if only we use our brains to be more creative or innovative. Entrepreneurs, who are very creative, leverage to build their businesses.
Most of the time, people do not realize their worth and overlook the fact that they can use the resources that they have within without even looking outside to sought help. For example, one who has massive land and plenty of water which is unexploited while others with great ideas to farm, but have nothing at all, can work together to bridge the gap like renting out the premise to the one who has no access to land, but with farming ideas.
Personal leverage plays a significant role in life when you surround yourself with people who are highly connected to get things done which is the ultimate way to achieve things easily.
For some things to move in life, connections bridge the gap and work better.
Another important way of leveraging is the financial leverage where you use people’s money to gain rewards by increasing the value for yourself.
For example, when you are entrusted to keep money for somebody for quite some time, you could use it for debt financing rather than keeping it for the sake of keeping it provided you use it cautiously to avoid any losses.
At the end of the deal, you gain rewards and return the principal to the owner. This requires analytical thinking, therefore you must be smart enough to think of lucrative revenue generating ideas.
People who are in business are encouraged to use leverage to get things done and if their resources are put to good use, the rewards are amazing. Just like the bible says, we are to be excellent in everything our hands find to do and should always believe in success and not mediocrity.
Smart people use leverage where there are challenges, they see opportunities by finding solutions to the problems. Leverage drives business growth increase productivity whilst building wealth.
By harnessing the power of leverage, we also benefit in terms of personal growth.
If you are wondering where to start from to commence a business, look within what you currently have in terms of resources and think critically how you can turn the resources at hand into an income generating venture. Is it your spacious house that has unoccupied rooms?
Is it the skill that you have, that you are not utilizing? Or could it be a piece of land or motor vehicle that you are not utilizing? Look at the environment and see what challenges or gaps where you live. See how you can bridge the gaps with what you have. Think outside the box, and act boldly, the sooner the better. There are plenty of opportunities out there that may not be known if you do not explore the business environment.
Be an overcomer!

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The author is a seasoned banker, has a Bachelor of Arts, honours degree in Business management/a Master of Business Administration from University of Sunderland (UK) and has a Doctorate in Business Administration from the Atlantic International University, United States of America (USA).