Is using other people's money really the best way to go when you have your own business? Wouldn't you have obligations to fulfill since you're not using your own money? In addition, since you have investors you'd have to split the profits instead receiving 100% of the profits? This is Sensi btw
OPM is a group out of Los Angeles. S/O to Dom Kennedy keep doing ya thing and supplying dope music.
But in regards to your question. I find myself torn between the notion of OPM & Sole Provider. Partly due to Selfishness, Pride, and Lack of Patience. More importantly Freedom. When you do for self, there's a different sense of Pride, Ownership, Accomplishment in knowing "I Did This!"
While many business gurus would call this an immature business philosophy. Many mystics would call this an immature ego. This sense of "I" and "Ownership" I mean.
OPM can be good if negotiations are done right and egos are in check. And there's a clear understanding on the business model and everyone's role in the business. I personally would recommend only doing square deals in regards to using OPM. And by square I mean; You invest X amount of dollars. You receive X amount on your investment. In X amount of time. Case closed. After this transaction is completed, we can do another based on the current dynamics. Meaning Cash Out after each contract.
OPM can get messy when people take Fronts & Roll debts over. Always Square Up your deals immediately. Never sell ownership of your business. Even if going into business with someone else I say go into it as multiple entities. A bar for example: One owns the Food Service the Other owns the Liquor/Bar. Feel Me....
Is using other people's money really the best way to go when you have your own business? Wouldn't you have obligations to fulfill since you're not using your own money? In addition, since you have investors you'd have to split the profits instead receiving 100% of the profits? This is Sensi btw
ReplyDeleteOPM is a group out of Los Angeles. S/O to Dom Kennedy keep doing ya thing and supplying dope music.
DeleteBut in regards to your question. I find myself torn between the notion of OPM & Sole Provider. Partly due to Selfishness, Pride, and Lack of Patience. More importantly Freedom. When you do for self, there's a different sense of Pride, Ownership, Accomplishment in knowing "I Did This!"
While many business gurus would call this an immature business philosophy. Many mystics would call this an immature ego. This sense of "I" and "Ownership" I mean.
OPM can be good if negotiations are done right and egos are in check. And there's a clear understanding on the business model and everyone's role in the business. I personally would recommend only doing square deals in regards to using OPM. And by square I mean; You invest X amount of dollars. You receive X amount on your investment. In X amount of time. Case closed. After this transaction is completed, we can do another based on the current dynamics. Meaning Cash Out after each contract.
OPM can get messy when people take Fronts & Roll debts over. Always Square Up your deals immediately. Never sell ownership of your business. Even if going into business with someone else I say go into it as multiple entities. A bar for example: One owns the Food Service the Other owns the Liquor/Bar. Feel Me....