Leveraging Your Resources
Tyler Durbin is the lead author and editor here at GenYJourney.com. Tyler shares his daily experiences as a recent college grad and young professional in order for those following the same path to learn from his mistakes and triumphs. Follow Tyler on Twitter: @TylerDurbin
We hear the word “leverage” often; especially in tight economies. What does it mean to leverage? What should I be leveraging? Being out of college for a year now, working in an entry level position, constantly working to build this blog and the ideas behind it and facing the harsh realities of living in the “real world,” I’ve quickly learned what it means to leverage. For me, it means identifying my resources and utilizing them to their fullest potential.
Here are the things I leverage:
PEOPLE
If the focus of networking is on building mutually beneficial relationships, then how do you begin to ask your network for their help?
At some point in any relationship, it is OK to begin to ask the other individual for help- that’s the whole point! Unfortunately, there is no magic way of knowing when this occurs. It’s kinda like dating. You never know when to go in for the kiss or if you should ask for another date. The answer is intuition and understanding the relationship you have created. Do what feels comfortable.
I’ve found that some people I warm up to quickly while others it takes a great deal of time to determine the type of relationship we will have. Like in any situation, personality compatibility plays a big role in this.
Making Mutually Beneficial Connections:
This past week, I had a conversation with my friend, Jason Velliquette, who told me that when he wants to network with someone, he approaches them by asking something along the lines of “Hi Mr. Smith, I find what you do to be really intriguing, can we meet for coffee and discuss ways we can share value?” How powerful is that? It’s powerful because he’s not really asking for anything in particular and it’s a two-sided perspective – as opposed to “I want you to help me now.” Networking is about building a community that is valuable and beneficial for all to be involved in. I want to build a relationship with Jason because he adds value to my life through lessons like this.
MONEY
Money, quite possibly, is the most difficult thing for young people to manage, let alone leverage. We are trying to make the most of our entry-level and/or part-time salaries while doing all we can to keep up with massive student loans, rent and monthly bills. With the small amount of money that is left, we need to make the most of it!
The first step in leveraging your money is to make sure that your cost of living isn’t exceeding your current income. Discipline your spending habits by creating a budget (Top Things To Know When Making A Budget). I’m not saying you can’t “live a little,” just be sure you are setting aside money to pay off debts and invest.
Investing in your career through professional development activities is always a good choice. Whether it’s taking courses, acquiring certifications or attending conferences, such efforts pay off by making you more promotable and appealing as an employee than your peers.
OTHER ASSETS
When we typically think about assets, we think about houses and cars and such. I look at assets slightly differently. To me, assets are really anything that adds value to my life and career. Assets are the unique resources I have that I can leverage to provide some type of advantage – either in life or career. Let’s check out a couple
Location
I live in Columbus, Ohio. Here in Columbus, we have over 15 higher-
education institutes that populate nearly 115,000 college students. That has provided a super-young, forward-thinking community that makes it easy to share and collaborate on ideas. On top of that, there are 1000’s of faculty that, when I ask nicely and am respectful of their time, are always happy to help me on my side projects. Being in a city that has so many young people also offers an opportunity for me to build my audience offline through networking, speaking on panels, giving presentations and attending events.
Company
Working for the Columbus Chamber of Commerce offers a tremendous amount of opportunity to meet influential people throughout the city. With nearly 2,500 member organizations, there is very seldom a day that I don’t work with a different business or meet a new business leader in the community. I value their presence and influence in the city and am sure to build quality relationships with these leaders by making myself readily available as a resource both as a Chamber employee and as a young professional. Give before you take!
Social Media
This is the one thing that we all have! Facebook, Twitter, LinkedIn and YouTube are assets. How are you using them? They allow you to be better connected to more people, communicate with people all over the world, market yourself and engage with diverse perspectives (among about a million other things)! Are you leveraging your social networks to the best of your and their ability? It’s free and convenient. There is no reason not to be.
Those who can properly leverage their resources to accomplish tasks and meet their life and career goals, will realize accomplishments sooner. I challenge you to begin leveraging your networks, your money, and your assets right now! What is holding you back? Fear of success?
Please share how you leverage these items!
I’d also like to hear “other” assets that you are leveraging. Share with everyone below!
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