Today I got an email from a lawyer who was very pleased with some tips I gave him for streamlining his practice.
Here’s what he said…
“Gads, haven’t been this excited about my business in years.
I had been thinking about moving toward selling it and retiring in 5 years. Now thinking about setting it up to manage others for another ten years.”
Now let me clarify something…
He thinks he’s excited about technology, but in reality, it’s something deeper.
At one level we can use technology to do work faster, better, and with less effort. That’s the first level of leverage.
But at a deeper level, we can better leverage our knowledge by more effectively leveraging technology.
Combining the two creates something like a hydrogen-powered “leverage bomb.” Here’s what I mean…
Leveraging knowledge in conjunction with technology makes it easier (and less expensive) for us to provide value to clients that they are willing to pay a lot more for. And also appreciate more.
Bottom line: you want to adopt strategies that let you leverage your knowledge to deliver massive VALUE to clients. That’s what the modern world has enabled.
The challenge is to leverage technology along with business growth strategies to create a much better lifestyle.
Let me give you a concrete example using a non-law business that’s leveraging technology and knowledge in astonishing ways.
$4,667 per hour
Today I got a pitch from a big shot business consultant named Alan Weiss.
He’s written several books, including Million Dollar Consulting, and Million Dollar Speaking. He’s someone that big companies hire to give keynotes at their big events, and he charges a lot for the talks.
Which companies? Ones like these:
- Times Mirror Group
- The Federal Reserve
- The New York Times, and
Alan Weiss is a guy who has learned how to sell his knowledge in a way that’s highly leveraged. He’s doing the opposite of reinventing the wheel.
He’s making lots of money off of a few “wheels” that he developed and refined.
That’s what massive leverage is all about.
Anyway, back to the email pitch that I got today from Alan…
Pivoting to greater leverage
Poor Alan’s speaking services aren’t in demand right now because of the whole pandemic lockdown. So he pivoted to doing virtual consulting and also…
(wait for it)…
… teaching business people to write better in a way that lets them leverage their knowledge.
The pitch I got is for a 3-hour webinar on “How to Write With High Impact, High Speed, and High Success.”
Guess how much he’s charging for this webinar?
If you said $1,400, you’re correct.
How many people will pay him $1,400?
I don’t know, obviously. But I’m pretty sure it’s at least 10 people.
And if so, that’s $14,000 for 3 hours of work
Or, about $4,667 per hour.
<Loud Gong Sounds>
Alan Weiss is probably about 70 years old. And he’s been developing his business for decades.
So maybe he’s not inspiring you to think you can figure out how to leverage your knowledge better.
But what about David Perell?
And a child shall also leverage
David Perell is only 26 years old.
And he’s also teaching people to write. He’s leveraging the same forces as Alan Weiss.
(i.e. knowledge, technology, the internet, and online marketing)
Perell’s online course is called Write of Passage and it sells for $1,500.
He runs it 3 times a year and the last time he ran it he got about 400 people to register.
So he’s probably making well over $1 MILLION DOLLARS PER YEAR with just that one course.
THAT’s leverage, my friend!
And David Perell damn well knows this.
In this article, he rhapsodizes that we’re “living in the Age of Leverage.” He explains that in this new age “people can access your knowledge without taking your time.”
And so “you no longer need to sell knowledge by the hour,” he says. Because “your ideas are the most valuable currency in a knowledge-driven economy.”
Maybe you should start ruminating on these ideas.
Maybe you start looking for ways to take advantage of the Age of Leverage.
It’s not easy to figure out. Certainly not at first.
But, unless you don’t like the power of massive leverage…
It’s totally worth the effort.