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The Riches Aren't Smarter Than The Poor But They're Smart At Doing This
Rich people are not necessarily smarter than poor people.
For example, if a child is born to a billionaire father who passes down his wealth, the child, who has not accumulated a lot of knowledge, is still richer than the majority of the people out there.
What rich people have more than poor people is not intelligence, but leverage - they have a lot more leverage than poor people.
What is leverage?
It is the use of any physical or digital medium that allows one to produce hundreds of times more output than a regular individual.
There are four different kinds of leverage:
Any person who learns to adopt leverage in their life will accumulate much more wealth than the other person.
Think of a car salesperson. If they spend a whole day selling cars at the dealership, the maximum amount of car sales is in proportion to the number of people walking in the door, the phone calls, and their closing ability.
But if the same car dealer learns how to use social media (media), network (people), and connections with online groups (people), they will have more opportunities to make sales and close a lot more than a hard-core salesperson working in the shop.
Many people understand leverage, but very few actually use it. Even fewer use it consistently over time.
The concept of leverage has been applied by many successful entrepreneurs. Elon Musk applies technologies. Steve Jobs utilizes the greatest designers and engineers. Warren Buffett utilizes money, people, and trusts.
Each person has a special favor toward the leverages they use, and all of them know how to get the most out of their leverages.
Here's how you apply leverage in your work and life:
Think of all the things you do at the moment that are either related to work or anything that you care about.
Now ask yourself how you can get more out of just the result that you currently get.
Now look at all the four domains above and ask yourself how you can apply one of these to get more out of what you put in.
When you apply leverage to your life, the first thing you will face is to get out of your head and let the leverage do the work. Remember, the leverage often doesn't assist you, but they actually replace you. Your job is to observe, not intervene from the leverage. Your job is to judge the results and act accordingly.
If you feel like you're working really hard and haven't seen any maximal results, maybe it's time to apply some leverage.
I want to end with a famous quote from the Greek philosopher Archimedes, "Give me a lever long enough and a place to stand, and I will move the world."