OPINION:
Archimedes famously said: "Give me a lever long enough and a fulcrum on which to place it, and I shall move the world." This is the power of leverage. While this is fully understandable in the realm of physics, many business owners could do with understanding the power of leverage in business.
There are many ways one can apply the principle of leverage in business. We can leverage on knowledge, skills and our relationship with clients to create industry-leading products and services through joint research and development. We can leverage assets to negotiate favourable terms to capture opportunities. We can leverage our teams and their wider networks when we are looking to hire key staff members.
The principle is simple yet, like many simple things, the application is not necessarily easy. It is possible and, when applied, can produce magnificent results!
"When people lean in, they buy in" is a quote that highlights the power of involving people in decisions and ideas. Very often the people on the floor doing the jobs day in and day out have a far better understanding of what is required, and potential areas for improvement.