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What is Leverage? How Rich People Use Leverage?

Shitanshu Kapadia
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What is Leverage? How Rich People Use Leverage?

Leverage – I am always fascinated by the distinctions between the wealthy, the poor, and the middle class.

What sets apart a person living on the streets from someone residing in a luxurious home and earning a high income? I believe that everyone has a story to tell. What sets apart someone like that from someone earning millions or tens of millions of dollars?

We all have 24 hours a day, we all have the same opportunity. Is it education, is it their background, is it because of luck, is it because of hard work?

No, it’s not any of those things, it’s not any of those things. I think the key difference between the wealthy and the less wealthy is the use of leverage.

Rich people use leverage and poor people don’t. Now there are many many forms of leverage. Let’s first define what leverage actually is.

Leverage Moneyexcel

What is Leverage?

Leverage is achieving a task with minimal effort. Just like a lever, right? You can use less, the least amount of effort to lift something very very heavy.

That’s all that it means, using leverage. So there are many many forms of leverage. I am going to share just a few of those along with how rich people use it.

How Digital Nomads Can Leverage LLCs for Tax Advantages and Long-term Growth

How Rich People Use Leverage?

#1 OPT – Other People’s Time

The first form of leverage is OPT, other people’s time. Rich people know how to use OPT, other people’s time.

For example, a CEO hiring employees is leveraging other people’s time to perform certain tasks for the organization.

For example – I have people coming to my home for cleaning work, and I am using other people’s time to help me do tasks. It may not be something I enjoy doing, it may not be something that is worthwhile for me to do just because my worth and rate is much much higher. So, that is the use of other people’s time – OPT.

#2 OPK – Other People’s Knowlege 

The second form of leverage is other people’s knowledge. Because as a person, you can only do so much. You can only learn so much, you can only know so much.

To grow with the, if you want to grow your income, rich people you notice, they have a lot of advisors around them in all areas of their lives like health, finance, spirituality, etc.

For example, most of us ask our CA how to reduce taxes – Income Tax, GST. How to do tax planning? A few of you also seek help from a financial planner for doing financial planning.

Rich people are surrounded by people that are smarter, and that have specific knowledge.

People who have been there and done that, versus poor people, you notice they don’t read books, they don’t hire people, they are rugged individualists.

They take on everything on their own. You know what, you want something done, you do it yourself, right?

That’s a poor person mentality. So that’s the second form of leverage.

#3 OPM – Other’s People Money

Another form of leverage is using funds from external sources. Wealthy individuals excel at using and maximizing OPM, which stands for other people’s money.

They buy a piece of property, they put a down payment, and they borrow from the bank to buy an investment. An entrepreneur might be in the midst of securing initial funding, and gathering funds from investors, which essentially belongs to someone else.

Rich people, we don’t use our own money. Only poor people use their own money.  

So that’s number three, the third form of leverage, other people’s money.

#4 OPR – Other’s People Relationships

And the fourth form of leverage is other people’s relationships. Wealth comes from relationships. And rich people are very good at leveraging relationships.

For example, there’s an important person I need to meet. Maybe I don’t know that person, and would ask my friend, hey can you make an introduction?

Can we do some business together? I will give you another example, let’s say you have an offer, you have a product, a service that you’re promoting and you want to leverage other people’s relationships, OPR, you would maybe do a potential joint venture with someone else who already has an existing customer base.

That customer base trusts and believes in that particular person.

You can have that person, the influencer, promote your product, your program, and your service so you are leveraging other person relationships to get more customers.

And there, if he promoted your products, you will be more than happy to give him a commission, in our world it’s called the affiliate commission. That’s leveraging other people’s relationships. 

#5 Technology

Rich people also leverage technology, automation, and software, right?

All these tools that are out there, that can, AI nowadays, that could help you to be more efficient, more effective that rich people also utilize.

So technology, I believe it’s a huge part of leverage. Even your smartphone, right? The smartphone that you have, the different apps that you have is all those, many forms of leverage.

So think about it, it doesn’t matter what business. It doesn’t matter what industry, it doesn’t matter what investment they do.

What it boils down to, is you study and you look at every single rich person, they are masters of leverage, in some way, shape, or form.

The more you know how to utilize that, the more successful you’ll be.

And the more you know how to utilize the leverage the more successful you’ll be and the wealthier you’ll be.

I’m gonna leave you with one quote by John D. Rockefeller – I would rather earn 1% off a 100 people’s efforts than 100% of my own efforts.

Think about it.

3 Proven Ways to Earn a High Income – Which one is Best?

Shitanshu Kapadia
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3 Proven Ways to Earn a High Income – Which one is Best?

High Income – Financial Freedom gives you financial confidence. Financial freedom is the dream it is the ultimate status of having enough income so that you can live your life with financial confidence. You can do whatever you want to do. You can buy whatever you want to buy for the rest of your life without having to be employed or dependent on others. One of the ways to achieve financial freedom is via High Income.

There are three different ways to earn a high-income High-Income Job, a High-Income Profession, and High-Income Skills. What’s the difference?

High Income Skills

3 Proven Ways to Earn a High-Income

#1 High-Income Job

A high-income job is company-dependent. The perfect example is climbing up the corporate ladder. You work hard and eventually move up to middle management or executive position. You’re able to make a decent income every month & you can become financially free.

However, there is one catch—what if your boss decides to fire you? Would you be able to take that same income to another company? Possibly, but it’s not guaranteed. 

Would the position and status you had in one company be transferred over to the next? Again, possible—but not guaranteed. What if the company decides to implement “corporate restructuring”? What would you do then? Would your company knowledge be transferable to your job?

When you are at a high-income job, your income is determined by the top bosses of the company. They could demote you, fire you, or promote you, but it’s mostly outside of your control unless you know how to play dirty politics and move ahead in life.

10 High Income Skills that can make you Rich

#2 High-Income Profession

A high-income profession is another way to make a high income and gain financial freedom gradually. However, the high-income profession is industry-dependent. This profession is usually credentials based, meaning the more degrees you have in front of or behind your name, the more you get paid. 

Examples of high-income professions are doctors, lawyers, accountants, realtors, and dentists who study and work hard for six to eight years to get their education and degree. However, the pitfall of having a high-income profession is in its definition—it’s industry-dependent.

In case the industry is facing a downturn you may not make a high income. Let’s say you are realtors and suddenly the market starts going into a downturn due to the economy, what do you do? You’re as good of a Realtor as before, but what changed? Nothing—except the market and the economy. None of which are within your control. 

Not only that most of the professions are location-dependent like doctors, dentists, and relators operating locally. Let’s face it, if you’re a dentist, not many people are going to drive 10 km to see you, no matter how good you are.

So, the third way is important & it is completely in your control that is High-income skills.

#3 High Income Skills

High-Income Skills are limitless. A High-Income Skill gives you the most freedom because what you are worth is only capped by how much value you can bring to the marketplace. 

It is not company-dependent because you can go to another client who will want your service. It is not industry-dependent because a High-Income Skill works across all industries. It’s not location-dependent because a High-Income Skill does not require your physical presence as long as you can deliver value to your customers. With the advancements in technology, it’s easier than ever to work from home, in a coffee shop, or anywhere you’d like. Once you acquire your High-Income Skills, you’ll be able to start living your life with real financial freedom.

So, it is important that you start learning and developing high-income skills if you don’t have any.

Remember- Jobs get you nowhere, profession gets you somewhere, skill gets you everywhere.

How To Improve Your Sales? How to Increase Business?

Shitanshu Kapadia
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How To Improve Your Sales? How to Increase Business?

How To Improve Your Sales? How to increase business? These questions are bugging businessmen most of the time. 

If you don’t have a proven process to sell then you don’t have a proven process to scale.

Today I’m gonna give you some tips, and five steps, on how to improve your sales process and increase business.

So, when it comes to the sales process, see most companies don’t have a very clearly defined process –

  • How money is made?
  • How cash is flowing?
  • How do you improve the sales process?

So today let me give you a simple blueprint.

First of all, you have to understand when it comes to the sales process, there are five steps.

You have the sales process as well as the buyer journey. So you have the process coming from the company. The seller, the closer’s perspective.

You also have to understand from the consumer’s, and buyer’s perspectives.

What is the journey that they go through? So let’s talk about this in detail.

Improve sales process

5 Steps of the Sales Process 

#1 Prospecting or Lead Generation

Now it depends on what you do. Maybe the way that you generate leads right now is by cold calling, is by prospecting, going out there, and bringing people in.

That’s perfectly fine or you’re living more sophisticated. 

You have a marketing campaign. You have some marketing in place to bring in people, that’s more lead generation.

You’re adding value to the marketplace. 

  • Maybe you’re doing content marketing. 
  • Maybe you are doing blogs.
  • Maybe you are running ads.

Whatever it is that you do, it doesn’t matter it is prospecting/lead generation.

Now from the buyer’s Journey perspective then what you’re doing is you’re trying to get some awareness.

The buyer, the potential customer, they don’t know that you exist yet.

You want to use this step to just make them aware that you even exist.

Basically saying hey, look at me I’m here, pay attention to me, right?

That’s the awareness. You just want to get some awareness.

The next step in the sales process is called qualifying the leads.

#2 Qualifying the Leads

Now how do you qualify the leads? You want to qualify the prospect in terms of four things 

  • Needs
  • Time
  • Money 
  • Decision maker

Needs, how strong are their needs? 

Time, how urgent is this problem?

Do they have to solve this problem right now or maybe months from now?

  • Money, are they able to buy? 
  • Do they have the resources?
  • Do they have the budget?

Can they make that decision or if they talk to somebody else?

Those four things. That’s how you qualify the leads.

From the buyer’s journey perspective you have what I call engagement.

They’re just engaging with your product, service company, your organization.

They want to find out a little bit more. So before they don’t know you now they’re aware, now they’re taking the first initial step and saying hey you know what?

Maybe I’m requesting a little bit more info. Right? 

Maybe I’m reading a little bit more. I’m just doing the next step to engage, that’s engagement.

#3 Demonstrating Value 

Step number three, and that is demonstrating value. Now how do you demonstrate value?

Maybe it is to walk them through how your software works. Give them a demo. Maybe it is to invite them to attend a virtual training, a webinar of some sort.

Maybe it’s to invite them to a live event. However, it is that you want to do it, but it is to demonstrate value.

It is to present what can you do for the prospects? Now from the buyer’s journey perspective now from awareness, to engagement, now we are going to interest.

Now I’m not just engaging. I’m actually interested in your product or service. You have to understand what the buyer is going through if you want to close them.

Three Powerful Sales Secrets – Sell Anything to Anyone

#4 Negotiate and Close 

Step number four is to negotiate and close.

Now you’re gonna close the deal. 

  • What are the terms?
  • What about payment?
  • What about financing?
  • What about how long you’re gonna provide the service?

Now you’re negotiating back and forth. Not proposal. We’re now talking about agreement. How to close that sale.

What are the expectations? How to establish those expectations.

From the buyer’s journey, from interest no it’s commitment. Now it’s saying yes. We’re moving forward.

Here’s exactly how we’re gonna do business. 

#5 Delivery & Fulfillment 

So, now you’ve closed the sale. You’ve qualified the leads.

How are you gonna deliver the outcome that you promised to the prospect? 

  • What are the deliverables?
  • What are you gonna do?

Because this is where you get the referrals. This is how you get the repeat business.

See most organizations, only focus on the first couple of steps. Or maybe step number four. Just wanna close. The sale doesn’t stop after you close. The sale starts after you close the prospect.

And then from the Buyer’s Journey perspective that is what I call experience. That’s the last step.

What is the experience you’re providing for the buyer, for your client?

This is extremely critical because you’ve done all this work during the sales process. 

So how do you improve your sales process?

Let me give you some practical examples.

Let’s take an internet marketing business model.

So let’s say you are running ads on Facebook, or Instagram or any social media platform and you are trying to get attention.

Hey, click on my ad, here is what I can do for you.

What are you doing? Step number one.

Lead generation. 

You’re trying to generate some leads. You’re trying to get some awareness in the marketplace.

Hey, pay attention to me.

Click on this ad.

Now the minute the buyer, the potential customer, click on the ad, now they go to step number two.

Which is what?

Engagement. So then you land on your landing page when they land on your landing page now they can see what can you do, what is the promise what are you giving away?

Maybe you’re giving away something for free.

  • Maybe it is a free book.
  • Maybe it’s an invitation.
  • Maybe it’s a free webinar.
  • Maybe it’s a lead magnet.
  • Maybe it’s a free E-book

Whatever it might be, it doesn’t matter. You’re qualifying the leads.

Then the next step is you want to demonstrate value. Hypothetically let’s say you are inviting them to a free webinar.

In that webinar, you are demonstrating what can you do. You are giving them social proof. You’re explaining what is it like to do business with your company?

And here you go from now engagement, to interest. If they sit through the entire presentation or the entire webinar, guess what?

They are interested. Then from there, the next step is to go from demonstrated value to now, negotiate and close.

So let’s say at the end of your webinar your call to action is to book a call with one of your closers. 

So then you’ll close, again find out about the prospects’ needs and close them on the phone.

So there from the Buyer’s Journey perspective, you go from now interest to what? 

Commitment. That’s correct. Now they’re committed. Now they want to buy. The last step. 

Don’t forget, now is delivery and fulfillment. And from the Buyer’s Journey now it’s experience.

  • What is the experience like working with your company? 
  • What is the experience like buying from you?

Even if you look at this you think about even in dating, this applies, right?

From the very beginning let’s say you go to somewhere let’s say you go to a pub, right?

You got to a bar, which I don’t recommend, but let’s say you go there, you are trying to get some awareness.

You’re trying to talk to some people right? And then you want to buy a lady a drink that’s from lead generation, now you’re trying to qualify the leads. Are they allowing you to buy the drink? And from there you’re having conversations, right? You’re demonstrating your value. You’re trying to get that phone number. And when you get that number that phone number you follow up and maybe you set up the first date, the second date. You’re trying to seal the deal and close the sale and after you guys are together what is that experience like? How are you delivering right? How is the fulfillment?

It is the same process. So when you look at your sales process I want you to ask yourself, all of these five steps, also from the buyer’s perspective which area can you improve?

Maybe you are doing phenomenal in lead generation. 

But you’re not doing so well in terms of demonstrating value.

Then maybe your presentation needs tweaking.

How can you improve your closing ratio?

Your conversion rate?

Or maybe you have a fantastic conversion mechanism, that your presentation, you know what? Every single person who is a qualified prospect who sees my presentation? I can close two out of 10. I can close three out of 10.

Fantastic.

It means that you need to go back to lead generation.

How can you generate more leads, so that more people will see your presentation? Or maybe step one through four you are phenomenal.

You’ve got that just dialed in. But guess what?

You neglected fulfillment. After people buy from you, you neglect them.

You don’t deliver on what you promised and then there is no repeat business.

There is no referral for your company. That’s it.

That’s exactly how you improve your sales process and increase your business.

How to get success in Sales?

Shitanshu Kapadia
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How to get success in Sales?

How you can get success in sales? Well, many people are asking me this question. So, today let me share with you a simple, yet effective way to get success in sales.

How do succeed in sales? You see, when it comes to sales success, it has very little to do with positive thinking.

What you want, is a positive outcome. You cannot go to the bank and deposit positive thinking or your optimism. What you want is that commission check. So let me share with you my experience to get success in sales.

success sales

How to get success in sales?

You see, most salespeople, believe in this nonsense that if they just think positively, nothing bad would happen to them.

That if they go into a sales meeting, they get on a sales call, and they are positive and everything will be fine.

Well, it’s like believing the idea if you are positive, and you go into a boxing ring, without preparation, you won’t get knocked out.

It’s as stupid as that. You see when it comes to closing, when it comes to sales, I don’t believe in positive thinking.

I believe in the positive power of negative preparation. What it means is I want to think of that as like a chess game, that when you’re going to play a chess game, what differentiates an amateur chess player versus a master chess player is what?

The master chess player knows steps ahead. That’s what makes that person a master chess player. 

What you wanna do as a closer, as salesperson is go into every single situation, every single sales conversation, be well prepared, so you know every single objection that your prospect might have and you’ll know exactly how to handle it.

And that’s how you get confidence. You see, the lack of confidence comes from a lack of preparation.

3 Mandatory Sales Skills to Close the Deal

What you wanna do is you wanna practice. You wanna practice and role play until you’re sick and tired of it. And then guess what, you practice some more. And that’s what I do.

You have to prepare yourself. I am shocked by walking into different stores, right, different sales conversations, dealing with so-called sales professionals, and how unprepared they are.

They do not ask the right questions, they don’t know how to find out about my needs, my pain points, they don’t know my hot buttons, and they don’t know anything about me.

They haven’t even done their due diligence. They haven’t done their research, learning more about the prospect.

It is ridiculous. So when I go in, I want to be well prepared. 

This means, I want to have a plan and the plan is this. A script. Some sort of script that I rehearse ahead of time, going into a conversation.

That I’m ready, I am prepared. Now you may be thinking, but Shitanshu, if I used a script, won’t I sound like a robot?

Won’t I sound, too mechanical? I’m not talking about those telemarketers where, you know, they call you and you’re saying, like –

  • “Hey sir, how are you today?
  • “Would you like to buy it?”

That’s not what I’m talking about. That is using a script all wrong. What a script is designed to do, is give you a game plan.

Just like going to a fight, you study the opponent ahead of time, right?

You know what moves they’re gonna make. And you prepare yourself.

You know what, that person, he is a very strong kicker. Well, let’s be ready on how to counter that. 

That person’s a very strong puncher. Well, let’s deal with that.

Let’s be well prepared. Another thing you wanna do is, you wanna have an objection handling script, meaning that you have every single possible objection that the prospect could throw at you, and you’re well prepared.

You know, okay, they’re gonna have the price objection, got it. You know they’re gonna have the budget objection. 

You know what got it, I know how to handle that. They’re gonna throw at you the, I wanna think about it. 

You know what, I know how to handle that. They’re gonna throw at you, well, but your competitors charge a lower price.

Guess what, no problem, I know how to handle that. You are well prepared. When you equip yourself with something like this, and you go into a sale scenario, you’re not relying on positive thinking and hope that you’ll get the sale, and hope that the prospect likes you, and hope that you will walk away with an agreement, with a deal.

No, you know going in, that’s what’s gonna happen. You’re walking in with confidence and clarity.

It’s not about relying on hope or luck. Oh, today, you get lucky and a good prospect will walk through the door. No.

You know exactly what is gonna happen, and you know what the outcome is gonna be. So, get yourself ready.

In the next post, I will share the process to improve your sales and increase your business. So, stay tuned and subscribe to my blog for the upcoming updates.

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