Word of the Day: Leverage

Word of the Day: Leverage from Blumer CPAs on Vimeo.

Transcript:

My partner and I were working the other day on our relationship, actually, our partnership relationship, and what we get off the page, she was talking about we can’t leverage our relationship. And that makes a lot of sense. Today’s word of the day is leverage, and leverage has a lot to do with any kind of creative services business. If you have a big team and that team grows, then you make a leadership team, and that leadership team has different levels of knowledge and then the owners can leverage that leadership team to actually do more work for more people. Leverage, you kind of know what leverage is, right? It’s that stick and a fulcrum and you’re kind of pressing down on something. And so with a little bit of force based upon that fulcrum you’re pushing on, you can move a larger amount of information, in this case.

In creative services businesses, you’re moving information. That’s what you’re piping through a company. That’s the deliverable. That’s part of the digital financial process, the pricing, the talking, the speaking. All of this information that you’re piping through a company, you have to leverage the mind of people and so you have to teach a lot about leverage. Well, that takes me back to what my partner and I were talking about. Our relationship is a visionary integrator relationship and that is a particular thing where I do visionary related things, she does integrator related things and we vet and manage those together. And when we get off the page, we’re not leveraging this VI relationship, which has a lot of leverage for a company that’s growing. So leverage, as word of the day, is a huge part of your life. You want to learn to leverage your mind, your abilities.

You don’t want to do all of the details in your growing company. You want to leverage a team, leverage other people, and have them do those things for you because leverage basically takes things out of doing what you can do with your two hands and it allows you to leverage the hands of, let’s say in a leadership team of five people, then you’ve got 10 hands, right? Five times two is 10. You’ve got 10 hands. You still have two. You have a leadership team of five. Now you have 10 hands. That’s leverage, and they can go teach and train. Now to get accurate leverage, you have to maintain relationships, so that’s what my partner and I were working on.

If we maintain this VI, our leverage is going to be massive. If we teach and train our leadership team and have retreats with them and just have them read books with us, we’re going to leverage them with the team. And then the leadership team has to learn to leverage their minds and each other to help the team at large. Leverage is a huge part of being successful in building creative services businesses and it’s hard to know and see, and if you’re struggling with it, you can hit us up right there or [email protected] And we help people leverage their companies and their minds and their thoughts and their teams to help them grow. And we’d love to help you too. Thanks for joining us on word of the day. We’ll see you.

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