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The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
What Is Leverage?
Leverage is about disconnecting your inputs from your outputs, or increasing the ratio between one and the other.
For example, if you're a lumberjack and work by yourself, 8 hours of work will equal roughly "8 hours worth" of output, depending on your physical capacity and experience.
However, if you were to hire a team to work for or with you, you'd be leveraging your work though labour, and increasing the ratio of results to hours put in.
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420 reads
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Which Kind Of Work To Leverage?
Easier and more efficient than leveraging work in which "hours worked" is the main input, you can leverage work based on iterations.
If you have the knowledge required for some manual kind of work – let's use baking as an example – you can productize the information itself ...
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306 reads
The "Newly Rich" Way To Generate Wealth
Humanity has used several forms of leverage to create wealth through history, Naval Ravikant summarizes them into four kinds: Labour, Capital, Media and Code.
Besides leverage, the way we put work into our careers and proje...
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462 reads
Stop Doubting Yourself, Just Start
"But I'm not qualified enough to do it" False. Not only can you market it as beginner friendly and sell it for cheaper, you will also learn even more by creating, and then be able to reiterate and make new, diferent kinds of content.
Thanks to the new forms of leverage, you...
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298 reads
"Newly Rich" Kinds Of Leverage
Media
- More recent, came to be through the printing press and exponentially blew up with the internet.
- Permissionless, anyone can create content and distribute it to nearly the whole world.
Code
- The most recent kind of lev...
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337 reads
Classic Kinds Of Leverage
Labour
- The oldest form of leverage, existing ever since feudal societies.
- Permissioned leverage, requires people to work for or with you.
- Hard to manage, requires great people management skills.
Capital
- The form o...
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366 reads
CURATED FROM
CURATED BY
What I've learned so far reading the "wealth" section The Almanack of Naval Ravikant, I strongly recommend everyone to read it.
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