The Power of Leverage
Welcome back to another weekly newsletter!
It's been another exciting week, and I'm happy to delve into another edition.
Today, I want to discuss the concept of leverage.
Leverage is defined as the ability to do more with less. It can be financial, technological, intellectual capital. It can mean having more resources such as human capital, skill, talent, experiences, unique outside perspectives.
Oftentimes, we see others who are way ahead of the pack, and think how we can catch up to them:
I have to run harder, longer, and faster (this oftentimes lead to burnout, frustration, quitting).
I have to work harder, longer hours, make more money, charge more, pay less, spend less, stay frugal
I have to get that promotion, play politics in the workplace, etc.
Oftentimes we are looking at things from a 1:1, linear perspective. Oftentimes, we are looking at it from a scarcity lens. A lens of fear.
If we can take a step back and think "big picture".
What are the elements that create this particular result.
How can I not have to reinvent the "wheel", and combine different elements or introduce new elements to get the same result or better.
Once I get the key components, how can I build teams, technology, software, processes to automate, iterate, innovate, and ultimately scale these operations.
We see examples of leverage in the financial markets. It can be in the health, wealth, relationships, coaching industry. It can be seen in social media, internet, e-commerce. The examples are endless.
Ultimately, these mindsets and mental frameworks can be the form of what ultimately takes you from where you are to where you want to be.
A mindset that has always helped is how can I "hack" this particular problem or set of problems, or how to achieve a particular goal faster, easier, and with greater ease?
This helps me to avoid the "herd" and set off on my own path using the resources and talent around me. That's why it is extremely important to control who you surround yourself who and who you allow to influence you.
So that's it for today, and look forwards to next week!
Most recent podcast launches for Financial Freedom Podcast
#103 - Financial Freedom Through Digital Nomadism with Jonathan Green (Serve No Master)- This was a fantastic discussion around the creator economy, and becoming a thought leader and influencer. One you have financial freedom, you have the ability to create time, location, and health freedom. Jonathan is a digital nomad. Digital nomads are some of the best examples of entrepreneurs embodying all of the different components of freedom.
#104 - Using LinkedIn to Get More Clients with Daniel Alfon- I used to think it was so important to get followers on Instagram and other social media channels. I used to copy influencers on Instagram to try and keep up with my following. While the engagement, statistics, followers are important to an extent, I've found that the #1 platform for professional business, networking, content creation, and building your reputation and brand has been LinkedIn. It is the place where professionals. Fascinating discussion on what makes an profile standout, and how to use your LinkedIn profile to your advantage.
Books I've read this week:
Just Keep Buying (2022) by Nick Maggiulli- Great read on long-term investing, playing the long game, and business strategy. Especially liked the chapters on how to buy during a crisis, why you shouldn't fear volatility. I gained insights into previously known questions.
Cable Cowboy: John Malone and the Rise of the Modern Cable Business (2019) by Mark Robichaux- I always love reads about entrepreneurs, their starts, their rise, and how industries were revolutionized especially when it comes to media, networks, and technology.
News I've been paying attention to:
SEC vs XRP awaits final decision. This will be a landmark case on the question of what constitutes a "security". Securities are determined based on the Howey test, securities laws that were passed in the 1930's. Check out my previous blog post on this important case and how it may setup legal precedent. How this law applies to the 21st century is why this case is so important. Stay tuned.
Artificial intelligence continues with OpenAI GPT3, Lensa AI. Peter Diamandis said it before: The businesses and companies that start embracing AI and AIaas will be the companies of the future. Those that fear change will not be around in the future.
Great article on 41 ideas that will shape 2023. I'm always looking at the future, and what trends are in store.
Great article on the number of remote workers and the number of opportunities
Colleges opting out of the annual US News and World Report rankings.
CVS experimenting with remote prescriptions. Can CVS and Amazon overhaul healthcare?
Number of stay-at-home dads, and number of dads opting to prioritize family over career is increasing.
Metaverse for offices? Metaverse, VR-AR-MR, Web3 will change how we network, socialize, play, and work, and is a huge potential market opportunity for digital nomads, remote work, creators, influencers, and thought leaders.
Stay tuned for next week!