How To Get Funding For My Business Idea

How to get funding for my business idea? Well, first of all, I'm going to tell you, you don't need it. And then I'm going to tell you exactly how to get it. There are so many sources of funding available and it is unprecedented. It's easier than you think. Stay to the end and I'm going to tell you some of my real ninja strategies on how to use good debt. Never your own money. How about that? So three things we're going to talk about is the obvious, right? What is OPN, right? Other People's Money. We're going to talk about OPC, Other People's Credit. And then we're going to talk about some sources that I have access to through some really amazing connections in this awesome thing called MyRolodex, where you can get funding anywhere, anytime. How about that? So first of all, it's going to start with your corporate structure. And your corporate structure is going to be pivotal. See, for you to get funding, there's you, your social security number. And then there is corporations. LLC, S Corp, C Corp, Limited Partnership. Any of those can have corporate credit. Say you ended up with three companies, right? An LLC, an S Corp, and a C Corp. And our teams will tell you, I have experts who do all of that advising. I just tell you the strategies and ideas about what to do. Like, think about it. You have one social security number. If you're a sole proprietor and you're running everything that way, you have one credit score. If you have three companies, you'll say, what would I do with them? I don't know. You're going to grow into them. We'll talk about that later. I want you to get the understanding and the principle. You now could have four credit scores, three company, corporate credit scores, and one personal. Now you have access to more funding. I mean, I start with now student athletes, pro athletes, and just families where their kids are 18. They join the family, they sign into the companies, or they get their own company, and they do all this right. They're in their young 20s, mid 20s, and they have access to half a million, million dollars. So this is not uncommon. It's uncommon to the normal person who doesn't even know how to get a basic credit card properly. So let's talk about the pros and cons of OPM, other people's money. The pro is that other people have it and you can have it. The downside is if you don't have a profile, a reputation, a resume of doing projects where you actually can return capital to somebody, OPM probably might come to you in the form of a guaranteed note, which means you're going to have to guarantee collateral. In real estate, they get usually first position. I coach all of my clients to not take a second or third position. You'll never get there, and you're never going to get through any lawyers to get it. So you want first position whenever you do, if you're OPM on that side. If you're going to receive OPM, expect to give up the title and the first position, and you can do that in any project. If you take on a personal guarantee, that's rougher. We'll have a conversation as your mentor on the pros and cons of taking on a personal guarantee or not. And a lot of that has to do with who has control of the project, because if you don't have control of the project and you take on a personal guarantee, you have probably just like slit your throat. It's rough. The other challenge with OPM, if it moves into an equity position versus a debt position is it now has an opinion, right? And just because people have money doesn't mean they know how to run your real estate project or your business idea of how you want to get funding for whatever kind of company that you have. So you want to structure it with more mature management teams. So OPM really is going to come to management. One of my greatest, greatest mentors said, money comes to management. So it comes to the team who has the resume, the experience, and the investment experience and softwares to actually return capital back to you properly with the proper return. So if you don't have any of that structure set up, I would start working on a resume, start making money and start building your own credit in your own resume. OPC now for the people who are a little more mature, but so say you went through a bankruptcy, a divorce, a foreclosure, for whatever reason, your credit's not good. You could partner to credit. What's that credit going to want? They're going to want control of the checkbook. Why? Because you better pay bills. If you don't pay bills on time, you don't pay when they've got their credit on the line, whether I don't care if it's vehicles, I've had equipment companies where people have literally put their credit on the line to apply for the credit for the equipment company and then didn't take possession of the bank accounts. The bills were paid late, their credit got destroyed. So that's the same in mortgages or rentals or anything that you do. But OPC is an option. A lot of people don't know about it. Before I continue on and tell you other sources and how you can go get funding, because it's everywhere right now. During the pandemic, it was everywhere. EIDL loans, PPP loans. People didn't use them properly, didn't use their credit properly, didn't pay bills properly. So for a lot of you, you don't qualify by yourself, but you could qualify with a partner. Before I tell you that, I want you to subscribe to my channel. If you're enjoying these conversations, we have money and finance business conversations every day, five days a week, 10 to 15 minutes. And most importantly, I do this because I want you and your family to start a money conversation at home. I want you to start bringing money, not this scary thing and we can't afford it. We can't do anything. You can afford anything you want. You just have to make the money to have it. And you've got to understand the corporate structure and tax structure, especially if you're here in the United States, it's one of the greatest opportunities ever. And most people say, oh, I'm just going to give it to my accountant. I park my money, pray somebody does something and you overpay taxes every year and you're unaware of it. And then you have to learn to invest your money. You have to make it, you have to keep it, you have to invest it. And guess what? My job as an educator is to teach you how to advocate for yourself in this structure. If I had my way with you and all your children, your kids would have credit cards in their teenage years and you would teach them very properly how to use them. And they manage a great credit score. They get the proper and right credit cards when they're 18 years old, like on their birthday, what a great gift. That in an LLC, what a great gift to financial literacy and business freedom for your kids. So funding happens because of your score or a corporate score. So your companies can have corporate credit. You can have corporate credit. So the more fundability that you have, and it's actually a true word, like just because you have a credit score doesn't make you fundable or not. With the revenue and profits of your company without a good credit score, a corporate credit score could make you fundable. So there's a lot of variables. In fact, there's 40 variables that I'm aware of that make you fundable, depending on what you've done to yourself and how you're structured. So what I want you to do right now is just call our office. There's our number in the description below. I want you also to go to askworld.com and put in a comment, put a question, say, I want to talk to Laurel and her team about how to get funding. So you have to be a client before we introduce you to any of this because we're first going to educate you. You have to lead from a place of knowledge and way better understanding of money, debt, good debt, bad debt, how this all works. Because if you don't know, you can't lead. And then you're going to rely on me to do your work and I can't advise you and I'm not in control of your credit or your credit cards or your company. So you're going to lean in and say, I would like some mentoring and some help on how to get funding for any of my business ideas and quite frankly, lines of credit. I mean, we have people that literally have access to millions and millions of dollars of capital. It's on the sideline right now. People have lost in the market. There's so much money waiting to actually fund good projects. So if you have a good project, you're going to need a management team, you're going to need a business plan, a tax strategy, but funding is available everywhere. So specifically there is OPM, there's OPC, there's traditional banks, there are grants, there are government financing, there's credit cards. If you use credit cards right, they can become investment cards and when they're at 0% last I checked, that's free money. So I call them investment credit cards. There is so much money around you. You just have to lean in and learn. So again, go to asklaurel.com, put in your information and say, I want to talk to somebody on the team and we'll be right back out with you. Let us help you get your dream in 2023. Do not wait. Click on the links today that I gave you some gifts for. And by the way, I'll give you one last gift because it's the holiday and we're coming into the holidays is I would love to invite you to my Millionaire Intensive. So it's several hours where I teach you what does it take to be a millionaire? What's the structure? And we put you in a marketplace where you can learn to make money and you'll understand a lot more of this as you lean in and take advantage of some of the things we're offering you. So get two tickets to my Millionaire Intensive. Also includes a copy of my ebook of my Millionaire Maker. So enjoy, read up to the first three chapters and be ready for my phone call from our office as soon as we hear from you.