| May I ask you a question? Between a pop star like | | | | year. In this case his value of singing is multiplied |
| Bruce Springsteen and a brain surgeon, who creates | | | | many fold! |
| the greater value in a person's life? Correct, the brain | | | | As for the brain surgeon, he would be paid only once |
| surgeon does! The brain surgeon has the ability to | | | | for the operation. Must you keep paying him royalties |
| save a person's life whereas Springsteen can only | | | | every year in order to keep your new brain? Of |
| make a person feel good for a few hours. Why then | | | | course not! As a result, he does not experience any |
| is Bruce Springsteen paid 100,000 times more than a | | | | multiplication effect at all. So as you can see, a |
| brain surgeon? What does Springsteen have that the | | | | person's income can massively increase when |
| average brain surgeon does not have? The answer is | | | | multiplied by the power of leverage. |
| what I call the 'leverage factor.' | | | | INCOME = VALUE X TIME X LEVERAGE |
| The leverage factor is one of the most powerful | | | | Many people have the perception that you can only |
| components of wealth building and it is what | | | | achieve the leverage factor when you are a singer, |
| separates the doing ok from the super rich. The | | | | movie star, sports star, famous celebrity or number |
| leverage factor is the extent to which you can | | | | ONE in your current organization. My belief is |
| MAGNIFY or MULTIPLY the effects of your value. It | | | | absolutely not! |
| is the extent to which you can "leverage" your value | | | | You can achieve massive magnification or |
| & time. | | | | multiplication in any profession, whether you are a |
| The Power of Magnifying Value | | | | realtor, insurance agent, sales agent, chef, garbage |
| For example, for three hours work, how many lives | | | | collector, lawyer, doctor, teacher or software |
| can the brain surgeon save? He can probably only | | | | programmer and the list goes on and on. When you |
| save one life. He creates tremendous value, charging | | | | fully utilize the power of (value x time x leverage), |
| probably $8,000+, but he can only touch one life. In | | | | your wealth will grow exponentially! Einstein said, "One |
| that same 3 hours of performing in a concert, how | | | | of the greatest principles in the universe is |
| many people does Bruce Springsteen's singing | | | | compounding" I for one believe him... |
| benefit? Thousands and if it is broadcast live, maybe | | | | So start keeping track of how you send your time |
| even millions. So the value he creates is magnified | | | | each day and focus more of your time on high value |
| tremendously whereas the surgeon does not have | | | | creation activities and your income will steadily |
| the power of magnification. | | | | increase over time. I know that this was a quick |
| The Power of Multiplying Value | | | | introduction, so look for more to follow on the |
| If Bruce Springsteen were to spend three hours | | | | subject (We've only scratched the surface), until |
| singing a series of songs in a studio and was to be | | | | then have a super week, |
| recorded on a CD, how many times would he be paid | | | | James |
| for it? The answer is many times over. Every time | | | | "Take chances, make mistakes. That's how you |
| that CD is sold, he would earn a percentage of the | | | | grow. Pain nourishes your courage. You have to fail in |
| money made, called a royalty. If that CD album sold | | | | order to practice being brave."-Mary Tyler Moore |
| a few million copies per year, he would be paid | | | | Thanks for all the super feedback. |
| several million dollars over and over again year after | | | | |