TIPS | 8 MIN READ
How to use 4 forms of business leverage to scale from 6 to 7 figures
What is the ONE thing all successful entrepreneurs with the fastest growing companies have in common?
Leverage…They LOVE Business Leverage!
While the “hustling” entrepreneur stuck at six-figures just muscles it… the truly successful business owner, the ones that are scaling rapidly are the ones who turn their business into a Machine and master the art of Leverage.
Business Leverage is everything. It’s the reason we have helped our clients generate $60+ million in the last 12 months. It isn’t about being smarter than everyone else or having the most skills. Business Leverage is simply about getting more done with what you already have.
The most successful entrepreneurs know how to get this leverage, and more importantly… how to use it.
In the beginning when you first start out, you do most the work yourself.
You have to. Every great empire begins with a little hustle and grind.
But as soon as you build some momentum you NEED to remove yourself from the process and embrace how powerful Business Leverage can be: the time it will save you, the money it will make you and the growth that comes on the back of it.
I learned this the hard way…
I tried to do it ALL myself for too long…
And at the age of 25, while building my first business, I had to call 911 gasping for air…
I hustled so hard (without ANY leverage) that I hit the wall. I know many talented entrepreneurs who have done the same, in the pursuit of building a successful business empire. Maybe you have gone through this, too.
Maybe you’re going through it right now …
- Never enough time to do everything you need to …
- Struggling to make consistent (scaleable) income …
- Caught between marketing and fulfillment (living feast or famine) …
- Unable to build a world class team (you just can’t find people you trust) …
- Never scaling as quickly as you would like (at least not without working 15+ hour days) …
If this is you, the two words you need to say over and over are: Business Leverage!
These are the 4 Forms of Business Leverage that helped me grow from a hustling, burnt-out entrepreneur stuck inside his business … into a CEO who owns the business and works “on” it.
You can do the same.
In this article I’ll show you how.
Starting with the most important form of Business Leverage of all… SYSTEMS!
Business Leverage 1: SYSTEMS
At 2X we’re all about building world class Systems!
Systems are a key form of business leverage because they allow you to do a task (or series of tasks) in a repeatable, time efficient and scalable manner.
Whatever they look like, systems save you A LOT of time (and allow you to get more done with this time).
It’s why we work with ALL our clients at 2X to setup world class systems in their business (and throughout their life). It’s a huge form of leverage — possibly the biggest form of business leverage!
Not only do systems let you perform your tasks quicker and more effectively, but once you have a system dialled-in you can almost always delegate it to someone else.
This is the real secret to business success!
Because as the leader of your business, you determine its success. The decisions you make and the tasks you do impact everything. The problem is… you only have so much time to achieve so much.
You need to outsource and delegate as much as you can.
This frees up more time to work “on” the business.
But you worry about delegating your work because they may not do it as well as you do.
You’re not alone. Everyone goes through this (I know I have).
It doesn’t matter… you still have to get out of your own way!
Not only do they make your life easier and save YOU time, but they allow you to pass tasks over to someone else because the system breaks down (clearly) what they need to do step-by-step.
You may even automate part of the process to overcome human-error (and save them time).
And you’re confident it all works because this is a system YOU created!
But rather than doing it yourself — or worse, micromanaging your team — you empower others to own the task so you don’t have to.
More time for you.
More time for you to make more money.
More time for you to make more money and scale your business to the next level!
I cannot say it enough… systems are the biggest form of business leverage!
We’ve built 2X around them, and we work with our clients daily to perfect theirs. The results are huge, and it’s “the” best way to get off the hamster wheel and scale your business from 6 to 7 figures.
But it’s not the only form of business leverage, which leads us to …
Business Leverage 2: PEOPLE
One of the best forms of business leverage — hands down — is OPT: other people’s time.
Each day you get a new batch of 1,440 to use as you wish. You have as much time as Elon Musk, Oprah, Jeff Bezos and every other billionaire in the world.
So how do they get more done with this time?
Simple… they leverage other people's 😉
I personally learned this from a mentor of mine. He had built a $100+ million consultancy company, so I asked him what the key is to scale past 7-figures…
He told me how my most important job as a CEO is to hire amazing talent. Use their time. Leverage it to take your business from good to great.
This mirrors the advice in Geoff Smart and Randy Street’s bestselling book ‘WHO’ …
They interviewed 20+ billionaires and 300+ CEOs about what it takes to build a successful business, and when they asked what the biggest single factor to building one is, 52% said Management Talent!
Not tools. Not products. Not marketing or sales. PEOPLE!
Hiring a world class team of talented A-Players allows you to leverage their:
But this comes back to first having the right systems in place. As good as your team is, they need direction. They need YOU to let go and step away. You need to empower them to do their best work.
SYSTEMS provide PEOPLE the chance to do this, so these first two forms of business leverage are closely linked.
And when you combine this with the next one… you win the game!
Business Leverage 3: DATA
You need to Know Your Numbers!
Optics give you clarity and power, because they allow you to make better decisions (quicker and easier).
Without data, you make blind decisions.
- You rely only on your gut instinct…
- You make assumptions …
- You are prone to bias and stereotypes …
- You see only what you want to see …
With the numbers in front of you, it’s Black and White.
It’s shows you the truth. It gives you the facts you need.
They check-in on them from time to time, if at all …
In the beginning you can get away with this, but you cannot build a 7-figure business (and definitely not beyond that) on blind luck. You need to know your numbers. You need to base the decisions you make on the data in front of you!
He’s a man who’s worked with the likes of Tony Robbins, T. Harv Eker and Robert Kiyosaki, and he says one of the biggest forms of business leverage is MEASURING.
- Measure the numbers …
- Review the data …
- Look at the optics …
The numbers set you free and show you the truth. Fact!
This is what wealthy, successful business owners do. They use data as their “edge” to make quicker and better decisions — so they waste less time and make more money on the back of it.
One of our clients went from 7 to 8 figures by going ALL IN on data. They literally transformed their entire business and became “the” market-leaders, all because they know their numbers.
This is how you scale!
This is how you GROW!
Once you reach high six-figures it isn’t about reinventing the wheel, but rather optimizing and perfecting what you do. Better decision making means more money. Quicker decisions means more money!
So please please please make sure you know your numbers. It blows my mind how few entrepreneurs use this form of business leverage. Once you do it will change how you play the game.
It will give you more cash in the bank, which you can then use to explode your growth.
Business Leverage 4: MONEY
This one’s a double-edged sword…
You may first need to leverage Systems, People and Data before you have the cash flow to leverage money. But once you do have cash in the bank, it’s one of the best forms of business leverage going!
Your job isn’t to make more money so you can hide it away in a savings account!
You’re a business owner. Your role is to turn $1 into $2. This turns you and your business into an ATM machine, which allows you to scale at a speed you may not be able to fully comprehend right now.
But I see it all the time. I’ve experienced this myself, as the number of zeros in my bank account rise. I see it through our clients at 2X, as they scale quickly month-on-month all because they have:
- SYSTEMS that allow them to work “on” the business …
- PEOPLE doing the work for them …
- DATA dialed-in, showing them the “right” decisions to make …
Leveraging Systems, People and Data gives you more MONEY, which you can then reinvest back into the business so you make even more of it!
It’s a beautiful cycle that feeds itself, not only removing you from the six-figure hamster wheel for good, but past 7-figures at a ridiculous speed!
And here’s something you need to remember…
These 4 forms of business leverage continue to work once you reach seven-figures! They don’t just help you get there, but ensure you continue to scale and grow quickly and effectively.
In fact, you may find you scale from 7 to 8 figures in half the time it took for you to make your first $100k.
Sounds crazy, I know… but this is the power of the Compound Effect!
Something small can create huge momentum, so long as you continue to make consistent and gradual improvements. This is what business leverage is all about! It doesn’t focus on creating an overnight success story. It’s centers around finding something that works, leveraging it… and repeating it!
We work with our clients to identify what areas of their business they should leverage, and then ensure they act on it. This is what we did with one of our clients recently, and we helped them scale from ZERO to $20 million in 8 months!
You read that right… $0 ⇒ $20 million. In EIGHT MONTHS!!!
We’ve created a guide that breaks down how Ryan and Eric did this using Business Leverage to build success on top of success, month-on-month. It takes this article to the next level, so if you want to dive deeper into how YOU can use leverage to scale from 6 to 7 figures (and then quickly to 8-figures) …
In it we’ll show you what these 4 forms of business leverage look like in practice, so dive into it now and see what you can apply to your business today …
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