Business entrepreneurship is the most common path to wealth, but also the least discussed. It gives you many unexpected benefits including community, connection, contribution, a sense of purpose, and a creative outlet. You can also achieve your freedom goals through business entrepreneurship long before you hit your financial goals because passive income isn’t connected to equity like in real estate or paper assets. In addition, business entrepreneurship is a great way to catch-up on your retirement goals if you’re behind on savings. But business entrepreneurship isn’t for everyone despite all the benefits. That why Brennan Dunn and I explore in this podcast episode the tricks and traps to this critically important asset class you may want to consider using in your wealth plan. Learn from our experience so you can decide what works for you. Brennan has developed several businesses in the six to seven figure range and will show you how to use this asset class to achieve your financial goals.
Nobody Builds Wealth Without Leverage
You won’t get wealthy by trading time for money and you can’t do it all yourself.
Building wealth requires you to work smarter rather than harder by applying the following principles of leverage:
- Financial Leverage: Other people’s money so that you are not limited by your own pocketbook.
- Time Leverage: Other people’s time so that you are not limited to 24 hours in a day.
- Systems and Technology Leverage: Other people’s systems and technology so that you can get more done with less effort.
- Marketing Leverage: Other people’s magazines, newsletters, radio shows, and databases so that you can communicate to millions with no more effort than is required to communicate one-on-one.
- Network Leverage: Other people’s resources and connections so that you can expand beyond your own.
- Knowledge Leverage: Other people’s talents, expertise, and experience so that you can utilize greater knowledge than you will ever possess.
Leverage allows you to build more wealth than you could ever achieve alone by utilizing resources that extend beyond your own. It allows you to grow wealth without being restricted by your personal limitations.
Leverage is the principle that separates those who successfully attain wealth from those who don’t. It’s just that simple.
If you aren’t using leverage then you are working harder than you should to earn less than you deserve — and that isn’t going to make you wealthy.
Below you’ll find a list of our most recent articles about leverage providing you with additional strategies and information so you can take the next step…
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