
Yesterday I was surprised that hardly any of my composition students (mostly business majors albeit international and ESL) knew the meaning of leverage. Here is part of my lecture on that word:
What is leverage?
Leverage as a verb means two things:
In the financial world, to leverage means to use any technique to multiply gains and minimize losses.
In a more general sense, to leverage means to use various methods to gain advantage, influence, or power.
Leverage as a noun means acquired power.
How We Get Leverage
1. having knowledge of our opponent that he doesn't want us to have.
2. having something your opponent wants and is willing to pay for its acquisition.
3. having better options than those your opponent is offering you.
4. having a powerful friend or alliance who will stand up for you, even retaliate against your opponent, should the opponent not meet your demands.
5. having moral highground over your opponent.
6. your opponent is smart enough to see that you are smarter than he is.
7. your opponent is smart enough to see that he is weaker than you are.
8. having an opponent who's smart enough to understand that while he needs nothing from you now, he may need something from you later.
9. knowing what your leverage is in relation to your opponents; in other words, you do not overplay or underplay your leverage.
10. knowing when it's beneficial to keep secret or make public your leverage.
11. knowing when to shut off the leverage part of your brain. If you're always seeking out leverage, no on will like you because they'll always have to be on the defensive. Don't mix work and friendship when it comes to leverage.
Recent Comments