Leverage allows you to achieve 100x the results of others.
For it is like an infinite money machine that multiples your effort, skill and judgement by exponentially rewarding you the more you use it.
Enter in one idea and out comes an unlimited number of applications across the infinite mediums of the internet that earn you money while you sleep.
At least thatās the theory behind āpermissionless leverageā.
The reality is a little different.
Earning yourself enough time and money to operate the leverage-o-matic that sits waiting for you at the ends of your fingertips is tough.
And with infinite opportunities comes finite decisions.
Knowing where to focus your limited efforts to create a enterprise of limitless leverage is where you should start.
Only then will you reap the rewards from the opportunities ahead of you.
So, hereās everything Iāve learnt about how to start, scale and maintain leverage to free you from earning with only your timeā¦
#1: Choose Your Skillset š
āGive me a lever long enough and a fulcrum on which to place it, and I shall move the worldā - Archimedes
To create leverage you must be playing in the right markets.
Too early and no-one will understand the need for your skills. Too late and theyāll find someone to replace you for half the price.
Arriving at the right time means identifying which knowledge is valuable. And which is merely another distraction.
Hereās how you do exactly thatā¦
1) Learn the Right Thing
The beauty of the modern world is that it feels limitless.
And for us in our 20s, this is both a blessing and a curse. For itās like thereās so much to try and so little time to do it all.
Take your time and be patient. Thereās a whole 40, 50 or 60 year career ahead of you in which you will discover your thing(s).
But, once you do, make sure the skill hasā¦
High demand in the market.
Limited supply from competitors.
Knowledge that is difficult to attain & train.
Creativity that cannot be easily turned into code.
Basically: if no-one understands what you do, but theyāre willing to buy from you once you explain it, youāre onto something.
2) Align Your Interests
Spot fads from a mile away & avoid them at all costs.
For by the time itās been easyfied into a online course and sold as a the next big get-rich-quick scheme youāre probably too late.
And youāre likely doing it for the wrong reasons.
Instead focus on finding work that you enjoy doing for itās own sake that alights your intellectual curiosity along the way.
Because if it will bore you someday, youāll never persevere at it long enough to create the position of leverage you need to succeed.
Ignore the distractions. And keep looking at the intersections of your interests. Itās there that youāll find opportunity and enjoyment in abundance.
3) Donāt Wait to Start
If you wait for the āperfectā thing youāll never start.
So, get into a habit of testing out those half-baked ideas by committing to the learning journey that youāll need to go on.
And along the way never forget that time spent on the āwrongā thing is never time wasted. Itās simply reapplied later down the line.
Here are a few ways to get started todayā¦
Document the journey & build an audience.
Reach out and learn from the existing experts.
Create a landing page & see if anyone signs up.
Work for free to build authority with case studies.
Optimise for building knowledge, reputation & network.
Because youāre going need all three later on.
#2: Apply The Leverage š§
āYouāre never going to get rich renting out your timeā - Naval Ravikant
The tools of leverage lie around you waiting to be wielded.
So, once youāve found the right space to play in youāll need to pick them up, learn their strengths and apply them to their greatest effect.
For like the farmer who first understood the power of the horse drawn plough, your impact will extend beyond your physical limitations.
And youāll earn not with your time, but with your mind.
So, hereās how to apply leverage to your solutionā¦
1) Delegate to People
Labour is the oldest form of leverage.
Requiring you to motivate & direct other people to complete work on your behalf, it can be the most difficult to manage.
Youāll need pretty solid interpersonal skills to avoid a mutiny.
But, get it right and youāll find thereās nothing better than empowering another human being to realise their potential in the world.
Just make sure you learn how to lead & delegate effectively first.
2) Multiply with Money
Money is the modern method of leverage.
Multiplying the decisions you make, it enables you to spend in the short-term to be paid back in a return on investment in the long-term.
And itās why the highest paid roles, like the CEO or Bankers, are the ones that involve investing money most effectively.
Because a 1% better decision is a lot when youāre working with Ā£Ā£Ā£Ā£Ā£s.
But, remember money will amplify both good & bad decisions alike. So, ensure your decision making skills are up to scratch first.
Or youāll just end up making more expensive mistakes.
3) Build without Permission
Permissionless leverage is the new age form.
And itās possible only with digital products that have no marginal cost of replication, meaning one additional user costs you Ā£0.
In effect allowing you to build once and sell infinitely.
Here are just a few examplesā¦
Writing ONE newsletter for an INFINITE email list.
Creating ONE course for an INFINITE no. of students.
Producing ONE podcast for an INFINITE no. of listeners.
Shooting ONE video for an INFINITE no. of YT subscribers.
Directing ONE film for an INFINITE no. of movie goers.
All of which have low barriers to entry and the potential for exponential rewards that amplify your earnings beyond your imagination.
But, require A LOT of upfront work to be realised.
Which is why you must choose an option youāll undertake for itās own sake.
And be prepared to build the audience from the ground up.
(exactly what this newsletter is for me).
#3: Evolve Your Mindset š§
āFocus on being productive instead of busyā - Tim Ferris
To truly master leverage you must understand itās principles.
For as the world continues to morph from one great generational shift to another, it is those with a compass that will surf the waves of change.
So, join them by applying leverage to itās greatest extentā¦
1) Price Your Value
Being leveraged will detach your value from your time.
Enabling you to be tracked on the outputs and not the inputs that you contribute to those who buy from you.
So, rather than charging a day rate based on your time, seek to understand the value your solution provides and then price it at a % of the difference.
Setting the terms with either:
A fixed project fee that costs less than the time saved, productivity improved or money earnt for the client.
Or a percentage fee that aligns your interests with your clientās, thereby exponentially rewarding you for your impact.
Both are a higher risk than a day rate.
But, both offer you exponential returns.
And detach your time from your earnings.
2) Learn to Build or Sell
If youāre still struggling with which skill to learn amidst the endless possibilities out there, start with one of the following:
Building - Any role that is critical to creating permissionless leverage; videographer, developer, product manager, content writer.
Selling - Any role that is critical to earning from permissionless leverage; marketer, salesperson, account manager, copywriter.
Master one of them and your earning potential will be massive.
But, master them both and you wonāt need to worry about money again.
3) Stay ahead of the Market
Traditional education is a behemoth that struggles to keep up.
Restrained by itās archaic curriculums that refuse to embrace the skill gaps of the modern world, it teaches pen & paper subjects to digital-first kids.
But, times are changing. And your unique knowledge is under threat.
As EdTech start-ups are breaking down the barriers to acquiring the most in-demand skills in the marketplace.
So, stay one step ahead by rejecting the idea that education ends in your 20s.
And instead adopt a career of lifelong learning where you continue to attain knowledge with a high barrier to entry.
All while establishing yourself as the go-to authority on the topic.
Because, the world wonāt sit still and wait for you. Itāll keep growing exponentially whether you like it or not.
So, itās your job to stay ahead of the changes, spotting opportunities as they arise and applying leverage to ones that resonate with you the most.
Find your niche. Start small and be consistent.
Then watch the rewards increase slowly then suddenly.
The Summary
Letās recap: To master leverage youāll need to choose your skillset, apply the leverage and evolve your mindset.
Thereās your 5 minutes, now take action:
š¤ Recommended Talk: How to Get Rich by Naval Ravikant - A compilation on everything you need to learn to get rich without getting lucky. All completely free via YouTube or Spotify and in just over 3.5 hours.
š Recommended Resource: The Almanack of Naval Ravikant - Jorgenson breaks down all of Navalās endless insights into one of the greatest books of all time. And the best part? Itās entirely free (legally) via the link above.
š¹ Recommended Course: Permissionless Apprentice - Butcher from Visualise Value breaks down how you can get started with permissionless leverage in a quick-start course. All for low price of $1.00 (yes, crazy).
I'm currently reading the book "The Founders" which is about the start of PayPal and the culture that led to them creating valuable businesses after their exit -> SpaceX, YouTube, LinkedIn...
And there's a story about one of the founders, Max Levchin, visiting his girlfriend and being so obsessed with programming he was writing code in the bathroom.
I think all of the founders really loved the work they did and what they were building. They were all in and the product they built was a natural extension of themselves.
As Naval says "Escape competition through authenticity."
Thank you for writing Charlie āØ