The one type of leverage is knowledge. Specialized knowledge gives you leverage because it makes you worth more, and makes your contribution more valuable. Doctors, lawyers, accountants, experienced sales people, all have practical knowledge that is of value to others. This superior knowledge enables them to get better results faster. As a result, people prefer to use their services and are willing to pay them more. Here are three ways to develop leverage through knowledge.
First, resolve to become an expert in your chosen field. Make a decision today to joint the top ten percent. Set it as a goal, make a plan and work on becoming better every day. Read the best books in your field, take every course and seminar you can find that will help you, even if you have to travel to attend. Listen to audio programs in your car. Become an ongoing —do-it-to-yourself“ project.
Second, specialize in those areas that of greatest importance and value to your company or to your customers. Apply the 80/20 Rule and focus on the 20% of activities in your work that contribute the most value to yourself and to other people. Specialize in excelling at those areas of specialized knowledge that customers care about the most.
Third, know your product or service inside out. Aim to be recognized as the industry expert in your field. Remember the person who has the expert knowledge can make a far more valuable contribution than the person whose knowledge is just average.
