Learn From The Smartest Millionaire Minds in Business

6 Ways to Apply the Power of Leverage

Understanding the power of leverage and how to use it is essential if you want to boost your sales and succeed in your financial goals.

Essentially, leverage is about doing more with less, which means less about ‘what’ you do and more about ‘how’ you do it.

With specific strategies and tricks, you can learn how to work smarter instead of harder and leverage marketing to shift your sales success to a new dimension.

You need to start asking yourself how you can give your customers the best value, products or services while you sleep.

1. Using Leverage to Improve Your Sales Success

The following tactics will show you how to leverage your current marketing and sales efforts effectively, giving you more time to focus on growing your business as you venture along the road to success.

Tips for using leverage include the following:

2. Social Media

The social sphere offers many ways to reach thousands of fans and potential customers, without the need for a huge marketing budget.

Create a Facebook page for your business, start a Twitter stream, keep your LinkedIn profile updated and even use YouTube to promote your products online.

3. Licensing Rights

Instead of selling your products in bulk, try selling the licensing rights to your products instead.

This option can enable your customers to select their own suppliers, which means that suppliers have full control over product quality and pricing.

In this way, you won’t have to deal with admin and other such issues.

4. Product Add-ons

Another good tactic is boosting your product range through additional products and repeat sales.

Creating add-on products to your original product, such as e-books and DVDs is a great way to maximize your sales without doing too much additional work.

5. Use Your Database

If you are not already using your database of customers to its fullest potential, now is a good time to start.

You need to give your customers reasons to return to your business to grow your sales, by providing support and excellent service that ensures repeat business.

6. Joint Marketing

Partnerships or joint venturing are great ways to leverage each other’s brands and promote customer relations.

If your company offers website design for instance, you could partner with a company that offers a related service such as online marketing.

This allows both of you to thrive through joint marketing.

Getting the benefits of leverage may take some time at first, but once you start changing your approach and attitude, it will be easier for you to start identifying further opportunities that boost sales without taking up excessive time and effort.

And once you start acting on those opportunities that may come knocking, you will have more time to dedicate to your goals too.

All in all, this is what makes leverage such a powerful too as you work towards your success.

Conclusion: Use what you have to your advantage

Cultivate the habit of recognizing opportunities as a means for growth.

It is most cost effective to start in-house and work outward from there.

There's so much that can be done with very little, if any, investment of funds.

Get creative in solving problems for customers - capitalize on creating experiences of value as this will add to your existing leverage and sales success rate.