Working hard is a requirement of getting rich, but it’s not going to be the deciding factor. In the end, your judgment matters more. Wealthy people are “); background-size: 1px 1px; background-position: 0px calc(1em + 1px);” rel=”noopener”>thinkers armed with leverage.

Leverage multiplies the results of your decisions. It comes in different forms.

Money is one of them. If I can invest $1,000 into a stock that doubles in value, I’ll make more money in return than someone who can only invest $100.

Labor is another form of leverage. If I can teach you how to sell two pairs of sneakers a day, you and I can sell more sneakers together.

The third and most powerful form of leverage is code. Next to software, this includes digital media, like podcasts, articles, and videos. Thanks to the internet, you can spread these around the world at no cost, and if people use them, you get paid in money or attention. This kind of leverage also compounds like wealth itself.

In the beginning, we all play without leverage, but if you continue playing without it, that’s on you. Most people can struggle to start accumulating leverage, but they also waste the little they have, which is however much money they make. Instead of investing it into podcast gear, books, or a writing course, they just spend it. If you want to be rich, that can’t be you.

You have to use your time to build leverage. Start compounding.

See also  How To Calculate Risk And Lot Size In Forex

Working on things that give you no leverage and possibility for exponential growth might not be that good for you.

Article Source 👉 Entrepreneur’s Handbook