Last week my daughter had a $20 bill in her lunch sack. I asked her where she got it from. She said that some first-grader wanted her 3 Oreo cookies at lunch and gave her $20 for them. I knew the "right" thing to say was to tell her to return the money but I smiled knowing that my little girl is already showing signs of being an entrepreneur.
I think about all the things I wish I knew when I was first starting off as an entrepreneur, namely about being able to expand quickly through the use of OPM or other people's money. I always hit a "glass ceiling" with everything I was doing when I first started out in business...20 years ago this year, actually! (Time really does fly!)
I have to say that the biggest, most valuable thing that I know now that I didn't know then was about credit. Yes, the only significant "life lesson" my mother ever taught me was to "take good care" of my personal credit. But what about going a step beyond that? What about business credit?
I knew nothing about such things. Nothing at all. Not at that time.
And because of my lack of knowledge, I struggled my ass off with both investing and business because I didn't know how to tap into OPM (other people's money) quickly and easily. I thought that OPM was reserved for the wealthy, established business people, or people who already had money or assets to use as collateral for getting loans and credit.
Boy, was I wrong!
One thing that's unfolded quickly over the past decade -- and even more radically over the past 36 months -- is access to something called business credit. And no, this access is NOT reserved only for the wealthy with assets to use as collateral but rather anyone who knows how to access these funds.
Except the problem is, most "Average Joes" have no idea how to access these funds that are ready to be lent out for those who know how to tap into this credit. Little do they know that it's quite accessible when you understand the simple process needed to gain access to this money.
(I should mention that, for the most part, I'm all for a lot of your John Q. Citizens to never get access to this money otherwise they'll probably end up ruining it for everything. Part of what Rockefeller aimed for back in the day was to keep the lowly "worker bee" completely ignorant of being able to climb the ladder into wealth because, without these worker bees, the rich can't get richer. This is how and why we are all trained at a very young age to go to school on a strict schedule, follow orders, work your way up the ladder, don't question authority, and don't buck the system. Because of this antiquated system, it's "trained" most average people to think like average lowly worker bees which doesn't include understanding how to be fiscally/financially responsible. Therefore, if you are one of these people who embark on a path of gaining access to hundreds of thousands of dollars in this available unsecured credit, you MUST use this money responsibility. You must use this to either invest or build a business...or both!)
It wasn't until the early 2000s when I discovered the power of building business credit. In 2003 I had to file for a personal bankruptcy which I regret even to this day (although it's long gone off my credit report, it still comes up with lenders). (This was based on poor legal advice doled out by a sleazy attorney who wanted me to file so he could get paid.) My first husband wracked up a bunch of debt after our divorce that I was tied to. Knowing what I know now, I could have easily and quickly had all of those debts removed but...as they say, young and dumb. Or rather young and uneducated about things like this.
After my bankruptcy, I learned everything I could about fixing and rebuilding personal credit. It was during this "rampage" that I stumbled on the concept of business credit. And it was through a late-night infomercial from a blow hard named Ray Reynolds. (Ever heard of that guy.) I bought his course, learned next to nothing about building business credit from it, but I was first "clued in"on this new world of credit that is NEVER talked about among "Average Joes" like you and me. (We were never meant to know about this powerful OPM leverage that only the rich use to continue building massive wealth.)
I also found that there wasn't any legitimate information out there about building business credit. I had to essentially figure it all out on my own.
Then things drastically shifted about 3 years ago between banks lightening up lending for businesses (to encourage economic growth) while a much more efficient business credit reporting system went into full swing. Between these two elements of the "perfect storm" it now allows for people to gain even quicker access to business credit, even with newly formed corporations!
For those of you who need access to money for real estate, business, and investments then you need to listen to this audio seminar now: http://www.monicamain.com/biz_credit_mentorship_deal
In only a few months -- by this summer -- you can start experiencing the SAME OPM leverage that rich people can access. You can start getting richer, just like they are. If you don't, you'll probably end up getting poorer just like the masses, especially as the middle class dwindles down to nothing. (My theory is that there will be 2 classes left in the next couple of decades: poor and wealthy. Which one do you want to be in?)
See you at the top!
P.S. We're on the March seminar final count down. You have only 7 days left before enrollment closes and we begin the event. We also only have 4 seats left. Click on this link if you want to attend this mind-blowing upcoming Aggressive Income Strategy event in Los Angeles on March 14th and 15th: http://www.monicamain.com/internet_cash_flow_event_in_la