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.To do this, borrow a small sum, place it ina safe instrument, such as a certificate of deposit or treasurybills, and in a few months, pay it back.If you repeat thisprocess several times, you will have built a solid relationshipwith your bank as well as a strong credit rating.You willrealize the wisdom of this approach to building a strongcredit rating on that day when you do need a loan.And, forvirtually all entrepreneurs, that day is inevitable!4.Leveraging other people s successes.Study the suc-cesses that other people and companies have achieved to gaininsights into their challenges and solutions.Most successfulpeople have paid their dues in terms of money, energy, com-mitment, and even failure to arrive at the top of their fields.Learn from their experiences and study their success storiesto see if there are lessons there that can save you considerabletime and trouble.Start by reading the biographies and studying the careersof successful people in your field.As intimidated as you mayfeel, do not hesitate to seek out current role models and asktheir advice.You may be surprised to find that many peoplewho have achieved extraordinary success take great pleasurein extending a helping hand to others who are committed tomaking a mark in the same field.Advice from high achieverscan prove priceless.Once you have realized your own goals, remember thegenerosity of those who went before you and extended ahelping hand to you.Do what you can to return the favor tothose coming along behind you.You will derive unique re-wards from helping those who are just starting out, I assureyou.TurboCoach965.Leveraging other people s failures.As BenjaminFranklin said,   Man can either buy his wisdom or borrow it.By buying it, he pays full price in personal time and treasure.But by borrowing it, he capitalizes on the lessons learnedfrom the failures of others. History is marked by great successes born of the carefulstudy of the failures of other people in the same or similarfields.The valuable lessons taken from others failures canlead the way to better, more informed choices in your owncareer or business.Watch and listen carefully to the storiesof noted failures.Learn the valuable lessons these attemptshold for you.Listen carefully to the stories of truly successful people.Those who genuinely wish to support you will share withyou their failures as well as their successes.Listen carefullyto both, but more carefully to the stories of their disappoint-ments and failures.It is here you can often find the real prize.6.Leveraging other people s ideas.A single good idea,developed with passion and commitment, can give birth to afortune.The greater your exposure to a range of ideasgained through reading, studying, interaction, and experi-mentation the greater the chance you will come across onethat will lead you to enduring success.We are not saying that one great idea is all it takes justthe opposite.A good idea is the very beginning.Storiesabound of great ideas that went nowhere until someone elseacted on them and reaped untold rewards.Acting on thatgreat idea is the only way to realize those benefits.The ideacan be your own or one that comes to light from your re-search.Whatever its source, the right idea in the hands ofa person who is willing to commit energy and resources todeveloping it can lead to substantial rewards.The Power of Leverage977.Leveraging other people s contacts or other people scredibility.Everyone you know has friends, acquaintances,and professional contacts.Many of these people can make apositive impact on your career or business.Among all thepeople you know or are connected to in some way, whomight open doors for you? Who can introduce you to peoplewho will help you achieve your goals faster? One key intro-duction can make all the difference in your life.In our coaching program, we stress the important skill ofasking satisfied customers for referrals.This is yet anotherimportant aspect of leveraging yourself through other peo-ple s contacts.It is one of the easiest and most cost-effectiveways to grow your business.Mastering these seven forms of leverage will give you atremendous edge toward turbocharging your productivity.Study and, most important, apply the seven forms of lever-age.Watch your confidence, influence, and prospects grow!Application Exercise1.How will you leverage your talents, skills, and actionsby leveraging the energy of others?2.How will you leverage your talents, skills, and actionsby leveraging the knowledge of others?3.How will you leverage your talents, skills, and actionsby leveraging the money of others?4.How will you leverage your talents, skills, and actionsby leveraging the successes of others?TurboCoach985.How will you leverage your talents, skills, and actionsby leveraging the failures of others?6.How will you leverage your talents, skills, and actionsby leveraging the ideas of others?7.How will you leverage your talents, skills, and actionsby leveraging the contacts of others?8.What actions do you commit to take immediately asa result of insights gained in this chapter?  You can accomplish anything in life,provided that you do not mindwho gets the credit. HARRY S.TRUMANCHAPTER 13Ricardo s Law ofComparative Advantage  Don t try to be great at all things.Pick a few things to be good at and be thebest you can. LIZ ASHECan you identify those areas in your career or business where you enjoya comparative advantage in the marketplace? YES NOAre you committed to exercise your comparative advantage by concen-trating your energies on your highest-value activities and delegating oroutsourcing the rest? YES NO.This chapter examines the principle of comparative advantage anddiscusses how to put this principle to use in achieving your careerand business goals.The Application Exercise at the end of thechapter leads you through the steps needed to identify your com-parative advantage and plan for the most productive use of yourtime and energy [ Pobierz całość w formacie PDF ]