Leveraging a Financial Planning business is crucial to your long-term wealth in business and in life. Whenever you, as the owner, complete a task, ask yourself: “Am I being paid once for this task, or forever?”
Competition is one of the driving forces of great economic success and as entrepreneurs, it pushes us to be the best we can be.
There is no denying that sometimes the competition gets fierce – just look at the number of lead generation businesses offering leads to financial planners and the prices they are charging. Lead generation is definitely somewhere that the power of leveraging can come in for a financial planner.
So, what is leverage and how does it work? Well, leverage is simply any tool, palpable or non-palpable, that can be obtained to gain an edge in a given field.
But the power of leveraging truly lies in the fact that it is not easily discernible, and most people tend to waste it rather than make good use of it.
Using Leverages to Gain an Edge for your Financial Planning business
There are three steps to successfully employing leverages to gain an edge in business.
The first is recognition, which is the point of realising what leverages you indeed possess and which areas you can leverage further.
The second is cultivation, the act of building and grooming your leverages, so to speak. In other words learning to make the art of leverage a unconscious competency.
And finally, there’s the activation, the actual “leveraging” of these tools available to you to achieve your goals and make them easier or more guaranteed.
Kinds of Leverages
For any entrepreneur, including financial planners, the scope of leverages available in your arsenal is pretty much limitless. From your intellectual leverages, borne of critical experience and qualifications, to external leverages including location, technology, people and so on.
There’s no limit to the leveraging tools you can employ to give yourself an edge.
Here are some of the other leveraging kinds below:
People – People can be leveraged in so many ways, ranging from connections and emotional attachments. An example of the latter is emotionally connecting your brand to a certain demographic. This way you not only earn customers, but you also earn a dedicated user base.
Systemic – Systemic leveraging may be the most fascinating on the list. It is capable of generating so much advantage when used correctly. The underlining principle of systemic leveraging is the ability to create a self-sustaining system that makes everything else, even when insufficient, remarkably easier and remarkably effective.