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“Money
is a terrible master but an excellent servant.”
- P.T.
Barnum
John
Ray, the famous 17th century author, was known to have
written the aphorism, “Money begets
money.” In the business
world, I'm sure you've also heard the saying,
“You've got to
have money to make money.”
There
are countless sources of cash, but by far, the best one to
utilize for your business is … other
people's money.
Perhaps
one of the greatest “secrets” of the richest people in
the world is summed up in those 3 words:
Other People's Money –
OPM for short. If you took a cross-section of the most
affluent
business people, you'll find that the majority of them
launched
their fortunes using OPM. In the
next few minutes, I
will show
you how you can obtain other people's money for your
business. What you do with the money, however, is up to you –
but if I
were you, I'd take P.T. Barnum's advice, and make money
your
servant so that you, too, you can make your own fortune.
The
use of other people's money has become such an ethical and
acceptable mainstay in business because one can leverage other
people's
money to your benefit.
For
example, you can leverage borrowed money into high-yield
investment
programs that could generate a return that would then
pay back
your lender and line your pockets as well.
Or you can
leverage
borrowed money into asset-producing or
income-generating
real property. Or you can simply
borrow money
to start
or grow your business.
The
benefits to using OPM are obvious:
1) When you use other
people's
money, especially within the parameters of a
corporation,
your debt is assigned to your business, and your
debtors
can make no claims against your personal finances; and
2)
the infusion of cash allows you to have money to make money
for your
business. Of course, even with the proliferation of
lending
institutions and venture capitalists, it is often
difficult
to obtain other people's money, Well, since Wall
Street
Journal has kindly called me a man who “finds answers in
unlikely
places,” I'm going to reveal an unlikely place where
you can
obtain other people's money. This
one is available to
all, and
yet very few ever take advantage of it. It's
the
federal
government. In fact, I've even
coined a phrase for this
source of
money: I call it “other
taxpayers' money” – OTM for
short.
The federal government has millions of dollars of
taxpayers'
money allocated to funding businesses like yours and
mine.
Here
are a few great sources of OTM:
1)
If you want to get training and/or money to start your own
business,
millions of dollars are available at www.sba.com.
They'll also show you how to find alternative sources of
financing,
how to protect your invention, how to sell your idea,
how to
license your product, how to write legal contracts, how
to sell
overseas, and how to buy business equipment.
2)
If you want money to export and sell products to foreign
countries,
you can obtain it from the Export-Import Bank of the
United
States at www.exim.gov. Or you can
go to The Overseas
Private
Investment Corporation (OPIC) at www.opic.gov.
3)
If you want to obtain government contracts, then access the
Procurement
Assistance Offices online. Here,
you'll learn how
to draw up
a business plan that'll get your business noticed.
They can
match the product or service you're selling with the
appropriate
agency, and then help you market to them more
effectively. You can find these programs at www.dla.mil.
4)
If you need venture capital for a new or existing business,
then you
need to go online and access the Small Business
Investment
Company (SBIC). These are
privately-organized and
privately-managed
investment firms that are licensed by the
Small
Business Administration (SBA). With
their own capital and
with funds borrowed at favorable rates through the federal
government,
SBICs provide venture capital to small independent
businesses,
both new and established. You can
access them at
www.sba.gov/INV.
5)
If you need free help or want to learn how to do your own
personal
or business taxes? All you have to
do is access
www.irs.ustreas.gov/prod/bus_info-bus_help.html.
You
can also obtain a free 26-page book on the Internet called
The Credit
Process: A Guide for Small Business Owners.
It's
written
for small business owners seeking financing for the
first
time. It covers sources and types of financing; funding
resources;
preparation of a business plan; preparation of loan
applications;
and action to take if a loan is denied. It
also
contains
an especially useful and comprehensive glossary of
finance
terms, agencies, and fair lending regulations.
Matthew Lesko is a New York times
syndicated
columnist, and author of 2 New York Times
best-sellers. He is regularly featured as the nation's top
expert on
government freebies on TV programs such as Larry King,
Oprah,
David Letterman, Jay Leno, the Today Show and Good
Morning
America. His latest book, “Free
Money for Entrepreneurs
on the
Internet” identifies hundreds of little-known sources of
free
government money for “net-repreneurs” and reveals the
secret
formula for easily obtaining the money for your business.
Free Money
for Entrepreneurs on the Internet
How I Created An Automatic Money Machine
That Got Over 100,000 Hits In The First 30 Days!
...And You Can Too
*The
War-Report*
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Mike Puccino
Infoplus@lcisp.com
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