I learned something REALLY important about gambling that totally applies to business leverage…
I’m not a gambler…
But I’m a true entrepreneur…
Which means I’m ALWAYS looking at other “industries” to see how they’re “secrets” can get me more business leverage.
The lesson I learned was: “Play games you can win.”
Sounds obvious, but it goes deeper than that.
Professional gamblers play PEOPLE they know they can beat – the “mark”.
I don’t like being a “mark”.
And I would guess you don’t either.
I want to be on the other side.
We need to play the games in our business we can win.
And for the most part – I’ve witnessed enough entrepreneurs playing “games” they WILL NEVER win.
And that’s just off the top of my head.
They’re the “mark”.
They’re losing business leverage every day.
The point is – we need to work less and make more.
“Sounds great Joey, but HOW do I do that?”
This is the question I get all the time.
And for the most part, the answer is focus.
The answer is to focus on the 20% that delivers the 80%.
And that’s where people freak out.
Because focusing on the 20% means “letting go” of 80%…or at least MINIMIZING the involvement you have with it.
I’ll give you an example:
In every business, bookkeeping is a must – right?
Some like it,some hate it and still, some are “ok” with it. Which really means they’ll “put up with it” when they have to.
That’s where I sat.
When the time came, I just HAD to deal with it.
Rather than spending the money on a bookkeeper, I’ll “do it myself.”
That ended up being weeks of my life spent doing something I totally hated, but needed to do because I thought the expense of a bookkeeper would cost me more.
I’m not the only one with this theory.
And it’s not the only area in our businesses the theory fits…
However, when I focus on the 20% of stuff I’m REALLY good at, my business leverage takes off.
I’m able to PAY for those professionals so I can keep doing the 20% I’m good at.
I CAN HEAR THE NEXT OBJECTION ALREADY
“yea, but Joey, I need to MAKE MONEY FIRST before I can hire those people…”
True – but not true.
I agree that when you’re first starting out, money can be tight.
But, if you’re like me, you could spend decades “trying to make money”. I would argue that you’re really just “comfortable” with YOU doing it all.
That’s a business leverage game you can’t win.
When you believe “no-one can do it like me”, you’re absolutely right.
And for the 20% you do well – you don’t WANT anyone doing it.
However, for 80% you do “ok”, you’re throwing away the time and effort you could be putting into your 20% that MAKES YOU THAT MONEY.
Play the business leverage games you can WIN!
Let’s start a conversation below…what do YOU think?
I’m an entrepreneur advocate, business coach, online marketing consultant and strategist, #1 bestselling author, serial entrepreneur 30+ yrs; I’m known as a marketing specialist and recognized authority on helping entrepreneurs build a successful business so you can enjoy more personal freedom and wealth.
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