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Lonnie Glosup
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Lonnie Glosup   My Press Releases

Maximizing Leverage

Published on 6/10/2015
For additional information  Click Here

Are you maximizing leverage with your existing resources?  This question can be applied to several areas of our lives from personal interactions to political/governmental involvement.  Yet since many of us that devote time to IBOtoolbox are online independent business owners it makes sense to look most closely at that aspect of leveraging our existing resources.

Often when talking with others about opportunities there is a tendency for the other person to say something like, "... I am totally focused on my existing business", "there is just no extra time in my schedule to take on anything else", or "I am already stretched too thin".  These statements and others like them are sometimes being used as shields to protect against distractions.  Hey, it can be valuable to avoid distractions, so I understand (and sometimes I am tempted to say similar things) when people become a little bit defensive of their current circumstances.

Blinders are put on horses to keep them from becoming distracted so that they will stick to the task that someone wants them to accomplish ... those blinders are a great way to maximize leverage of the time and efforts of the horse IF you are the one that is attempting to keep the horse looking straight ahead.  But what if YOU are the work/race horse?  Could those blinders be keeping you on someone else's path (and even have you running in circles while attempting to convince you that you are getting ahead of the pack when in reality you may simply be going nowhere in a hurry)?

Because we live in a very interactive world there are times when are are in control of our own time and attention and there are other times when we are allowing ourselves to directed by others.  The example of the horse is a good one in that horses are highly intelligent creatures that are much more powerful than the rider or driver that is directing them; so if the horse were to choose to take a different path the rider/driver might find that at that point the horse is simply taking the rider along for the ride!

The beginning of a new year is often a good time to take a look around (take the blinders off to expand our field of vision) and see if the path we are currently racing down is taking us where we really want to go.  If it is then we can put rededicate ourselves to the task and keep going.  If not, then it may be possible to change things a bit to make sure we are are the right path.

Many of us that have chosen to work from home have already realized that we wanted something different than the usual "rat race".  The notion of being able to work when and where we want is a powerful motivator.  Much time and effort can be devoted to structuring how we earn income in cyberspace.  And there are definitely costs of doing business, like the hardware (computer, smartphone, tablet, etc.) necessary to access the internet, along with our actual connection (service provider) via cable, wi-fi, or wireless hotspot.  Those are usually expenses that we budget as basic costs of doing business in the same way as we pay for other utilities and accommodations to support our physical environment while building our business(es).

For some of us that little (es) at the end of the last sentence in the preceding paragraph is to denote that we may have decided to generate multiple streams of income by building a portfolio of programs.  This philosophy of multiple sources of revenue makes too much sense to some of us to ever allow ourselves to be limited to a single endeavor (and most people are actually participating in platforms that have multiple revenue generating components even when they think they are making a conscious decision to just do one thing; so if your company has more than one product/service or if there is more than one income earner in your household, then you are benefiting from multiple sources of income).

Wait, maybe it would help to turn it completely upside down and look at things from the other side ... multiple sources of outgo (expenses). Many of us pay for water, electricity, natural gas or heating oil, gasoline, rent/mortgage for our work environment, internet service provider (ISP), wireless network provider, and maybe even a dedicated landline telephone connection.  While it is worthwhile to manage expenses, there is a very good likelihood that most of these things are built into your budget.

A quick search for an example of an "operating budget" provided this:

All operating budgets for a commercial companies follow this structure:

Sale / Turnover

    - Variable costs / used goods

    = Gross profit

    - Fixed costs

    - Depreciation

    - Interests

    = Profit

Accounts in a budget

Below you can find different types of expenses. Maybe your company does not have all the expenses. Then just delete the expense (the account) in your budget. Maybe you have another expense. Then just put it in the budget. The budget must reflect your company.

Fixed costs

  • Wages - for staff in shops and offices

  • Rent/mortgage - for building(s)

  • Electricity, heat, water

  • Renovation and maintenance of buildings

  • Cleaning

  • Car service/mileage allowance

  • Travel costs

  • Stationary telephone

  • Postage and charges

  • Mobile phone

  • Internet-connection

  • Website subscription/hosting and upgrading

  • Marketing/advertisement/advertising

  • Meeting expenses

  • Insurance

  • Computer equipment

  • Computer network

  • Leasing-expenses

  • Minor purchases

  • Maintenance

  • Accountant

  • Lawyer

  • Other consultancy

  • Unexpected costs (5% of costs)

The good news is that working online can allow us to eliminate a lot of the traditional fixed costs, so I have put the ones in the above list that very likely DO apply to us in bold.

So if we cannot avoid having multiple sources of expense then doesn't it make good sense to accept multiple sources of income too?!

A good way to go about it is to see if there are multiple uses for the resources/expenses that are a necessary part of conducting business; working from home is ideal in that we are going to have water, heat, electricity for the household anyway (yes, an accountant is going to want you to identify what amount of space and the percentage of the utilization of utilities that are dedicated to the operation of your business, but these things are still going to be a part of the household budget).

Here is the "aha moment" that occurred to me.  IF I could show the average person how to turn a basic household bill into an additional paycheck then maybe I would have established enough of an interaction with them to determine if my primary program would benefit him/her too.

Modern society is constructed of overlapping networks.  We have roadways, rail lines, electric grids, sewer systems, satellite arrays, microwave towers network for our wireless communications coverage areas, fiber optic cable network, etc.

Why not build our own network of users of some of these essential services?  It does not have to be your "primary program" anymore than turning on the facet in your kitchen has to be your primary activity.   

IF you could show just a few people how to turn a basic household bill into an additional paycheck ... without them having to incur any additional out-of-pocket expense ... AND YOUR expensive for this service could be provided free, would you at least like to know how?

Click HERE and see if just maybe it will provide you with an "aha moment" insight too.

Maximizing leverage of some of our basic services by turning household bills into additional paychecks can also rapidly build your list by expanding your contacts into groups of people that we might not have previously had an easy way to connect with ... that service person at the restaurant maybe would be a good candidate for your primary business, but how much more quickly can you ask her/him if they would like to have their wireless service for free, without even having to change the wireless network they use?!  Get their contact information to share with them how easy they can do something that has immediate appeal to them and then you will be able to expand the conversation to include possibilities for your primary program too. 
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