249. Understanding the Trap of Negative Leverage (10X Series: Part 5)

The Greg McKeown Podcast

Greg McKeown

Education, Business, Self-improvement

4.8 • 1.1K Ratings

🗓️ 28 November 2023

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, I explore the hidden trap of negative leverage and how it silently drains our resources and energy. I promise that you'll walk away from this episode with a deeper understanding of negative leverage and equipped with the tools to eliminate its presence in your life. By taking immediate action and avoiding unnecessary trade-offs, you'll find yourself investing more in what truly matters. After all, making negative leverage visible is the first step towards an improved life. Join my weekly newsletter. Learn more about my books and courses. Join The Essentialism Academy. Follow me on LinkedIn, Instagram, X, Facebook, and YouTube.

Transcript

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0:00.0	Welcome back everybody to the Gregg McEwan podcast. This is Hurt Fife in our series on
0:14.8	leverage. In our last episode we discussed the power of one-time decisions and how they
0:21.6	can yield results tenfold. Today we'll delve into a vital caveat in our journey to leverage,
0:29.6	and that is the concept of negative leverage. By the end of this episode you will be able to
0:36.8	notice, identify and then eliminate those things that are disproportionately taking you away from
0:45.3	the things that are essential to you. Let's get to it.
0:55.3	If you haven't checked out the Essentialism Academy recently, this is the perfect time to go and
1:19.8	check it out. Go to Essentialism.com. You'll see the classes that have been curated specifically for
1:27.7	you to be able to help you to design a life that really matters and to be able to keep coming back
1:34.6	like it's a disciplined pursuit to the things that are essential and to eliminate the things that
1:40.7	are not and to make it as effortless as possible to make that transition. Let's start with a personal
1:48.0	story. I once signed up for an online service thinking it was just ten dollars a month.
1:53.0	Well it was ten dollars at that time, but imagine my surprise when they shifted the price to a hundred
2:00.0	dollars a month every month that was just on automatic renewal and I hadn't noticed so this had
2:07.1	gone on for many months. This is a simple but classic example of automation in this case working
2:14.8	against us, but when non-essential activities are automated they can silently drain our resources
2:22.8	from what's essential without us even realizing it. So what would you do in this case? You would just
2:29.8	consider your subscriptions. They're easy to start but often challenging to stop and this passive
2:36.4	continuation is a form of our subject today negative leverage. You're leveraging your resources in a
2:44.2	way that diminishes rather than enhances your life. That's the simple idea of it. Now why are we
2:51.3	taking a deep dive into this? Well one reason is because I got an email from Rob Mangreli,
2:55.8	he's been listening to this podcast for a while now and he's been listening to this entire series
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