Here's sharing a Powerful Concept that can help you achieve Wealth and Riches...

Albert Eintstein said that the "power of compounding" is
possibly the most powerful financial concept. What is the
second most powerful financial concept then?

In my opinion, it is Leverage.

What is Leverage?

Leverage comes from the word "Lever".

Simply put, it means the ability to do ever more with less.
If you understand how to harness the power of leverage, you
can achieve maximum results with minimum effort. Think in
terms of doing more and more with less and less.

What is the greatest Leverage in the world?

It's the leverage of your mind!

What you think is real becomes your reality.

So what is your reality? Whatever "belief" you accept would
eventually become your reality." Some people believe they
can never succeed. Some people who are born poor believe
they can become rich. So what is your belief

Humans will never fly was the reality for most people less
than 100 years ago. However, the Wright brothers who
invented the aeroplane think it is possible for human
beings to fly! And they went on to "invent" the aeroplane.

Most people have "limiting beliefs". When you think about
it, the only "limit" is the limit we place on ourselves and
accept.

Give you another example. Singapore was just a sleepy
fishing village years ago. However, Sir Stamford Raffles
saw in his mind that Singapore can become a great port and
even today, Singapore still remains one of the busiest
ports in the whole word. Thus, the ability to leverage your
mind to see "possibilities" instead of negativity and
obstacles is one way one can move ahead in life.

So the number one lesson I want to share with you is:"our
mind is our most powerful tool of Leverage."

Most people do not achieve MORE because they have NEVER
grasped the concept of Leverage.

What are the things we can leverage on?

1. Other people's money. For instance, if you start a
business, and you get other shareholders in to chip in
money. That is leveraging on other people's money. When you
run a business and you borrow a loan from the bank, that's
also leveraging on other people's money!

2. Other people's experience. For example, I worked in the
bank for 7 years before I move out to set up my own
business. While I was in the bank, I keep tapping on the
experience of "business owners I meet"; my superiors who
were in their 40s and 50s. I asked them about the Oil
crisis in 1973, the Singapore recession of 1985. In 1973, I
was just a 4 year old, but does it mean that I cannot tap
on the experience of those people who are older than me? Of
course we can!

3. Other people's knowledge. For example, I consider myself
a financial expert. It took me more than 14 years to
acquire the expert knowledge I have. However, am I an
expert in say "Information Technology"? No, I can simply
leverage on the expertise of IT specialists. Am I an expert
in SMS marketing? I'm not, but I can leverage on the
expertise of a SMS marketing expert.

4. Other people's customer base Human beings seem to be
very different. We can be tall or short, slim or plump, old
or young, we can be from different races. But if you think
about it, each of us are in a different business. Our
customers, no matter who they are, ultimately, they need
the same things!

5. Leverage on a Network: eg. Business Community, such as
Chinese Chamber of Commerce. By tapping on Chinese
Chamber's broad membership base, a business can reach out
to potential suppliers/clients easily if they are members
of Chinese Chamber as well.

6. Leverage on information eg what services/products would
be in demand in next few years in Singapore? Keeping up on
information on business trends can help one leverage on the
profit making opportunities.

7. We can leverage anything and everything. Even a computer
can be a tremendous tool of leverage. SMS can also be used
as a effective tool of leverage.

If you understand and apply the power of Leverage, then you
are likely to achieve greater results with less efforts.

Before you get too excited, here is a note of caution: you
must know what is the upside potential and what is the
downside risk. For me, I'll only do something if I estimate
the upside potential is at least double of the downside
risk.

Make sure the risk-reward ratio is in your favour! Think in
terms of risk and reward instead of risky or safe.

----------------------------------------------------
Dennis has 15 years of bank lending experience. He founded
http://www.HousingLoanSG.com - a Leading Mortgage
Consultancy Portal in Singapore. He is often quoted in
newspapers for comments on Housing Loans. Please send your
comments to dennis@housingloansg.com or call him at +65
6737 8801