How,Use,Other,People,amp,#39,M finance, share, loan How to Use Other People's Money for Your Business

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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 havewritten the aphorism, "Money begets money." In thebusiness 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 bestone to utilize for your business is ... other people'smoney. Perhaps one of the greatest "secrets" of the richest peoplein the world is summed up in those 3 words: Other People'sMoney - OPM for short. If you took a cross-section ofthe most affluent business people, you'll find that themajority of them launched their fortunes using OPM. In thenext few minutes, I will show you how you can obtain otherpeople's money for your business. What you do with themoney, however, is up to you - but if I were you, I'd takeP.T. Barnum's advice, and make money your servant so thatyou, too, you can make your own fortune. The use of other people's money has become such an ethicaland acceptable mainstay in business because one canleverage other people's money to your benefit. For example, you can leverage borrowed money intohigh-yield investment programs that could generate a returnthat would then pay back your lender and line your pocketsas well. Or you can leverage borrowed money intoasset-producing or income-generating real property. Or youcan simply borrow money to start or grow your business. The benefits to using OPM are obvious: 1) When you useother people's money, especially within the parameters of acorporation, your debt is assigned to your business, andyour debtors can make no claims against your personalfinances; and 2) the infusion of cash allows you to havemoney to make money for your business. Of course, even with the proliferation of lendinginstitutions and venture capitalists, it is often difficultto obtain other people's money. Well, since Wall Street Journal has kindly called me a manwho "finds answers in unlikely places," I'm going to revealan unlikely place where you can obtain other people'smoney. This one is available to all, and yet very few evertake advantage of it. It's the federal government. I've coined a phrase for this source of money: I call it"other taxpayers' money" - OTM for short. The federalgovernment has millions of dollars of taxpayers' moneyallocated 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 yourown business, millions of dollars are available atwww.sba.com. They'll also show you how to find alternativesources of financing, how to protect your invention, how tosell your idea, how to license your product, how to writelegal contracts, how to sell overseas, and how to buybusiness equipment. 2) If you want money to export and sell products toforeign countries, you can obtain it from the Export-ImportBank of the United States at www.exim.gov. Or you can goto The Overseas Private Investment Corporation (OPIC) atwww.opic.gov. 3) If you want to obtain government contracts, then accessthe Procurement Assistance Offices online. Here, you'lllearn how to draw up a business plan that'll get yourbusiness noticed. They can match the product or serviceyou're selling with the appropriate agency, and then helpyou market to them more effectively. You can find theseprograms at www.dla.mil. 4) If you need venture capital for a new or existingbusiness, then you need to go online and access the SmallBusiness Investment Company (SBIC). These areprivately-organized and privately-managed investment firmsthat are licensed by the Small Business Administration(SBA). With their own capital and with funds borrowed atfavorable rates through the federal government, SBICsprovide venture capital to small independent businesses,both new and established. You can access them atwww.sba.gov/INV. 5) If you need free help or want to learn how to do yourown personal or business taxes? All you have to do isaccess www.irs.ustreas.gov/prod/bus_info-bus_help.html. You can also obtain a free 26-page book on the Internetcalled The Credit Process: A Guide for Small BusinessOwners. It's written for small business owners seekingfinancing for the first time. It covers sources and typesof financing; funding resources; preparation of a businessplan; preparation of loan applications; and action to takeif a loan is denied. It also contains an especially usefuland comprehensive glossary of finance terms, agencies, andfair lending regulations. Article Tags: Other People's Money, Make Money, Other People'smoney, Other People's, People's Money