|The use of other people's money has become an
ethical and acceptable business practice because you can leverage other people's money to
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.
I'm going to reveal an unlikely place where you can obtain other
people's money. This place is available to all American citizens, and yet very few ever
take advantage of it.
It's the federal government.
A phrase coined for this source of money is called,
"other taxpayers' money". OTM for short. The federal government has millions of
dollars of taxpayers' money allocated to funding businesses like yours.
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
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) Do you need free help? 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.