The Power of Other People’s Money

In past editions of Sticks and Stones, I have mentioned the power of using OPM (other peoples money). I thought I would share another twist to this…government funding programs. You can often leverage government programs to achieve more in your business.

This past month I was involved in several successful applications we’ve been working on over the past 6 months. The key is to be clear on what you are asking for and how it fits within the government program mandate. I also suggest looking for other stakeholders, government agencies and/ or partners to endorse the proposal. Ideally this is captured within an email that you can attach or on their letterhead. Another little tip is to put some of your own money into the proposal. It means more when you have your own “skin in the game”.

I’ll look to share more on the various programs we’ll be implementing over the next 12 months as there will be a lot of moving parts for each of them.