In the final week of the 2008 US Presidential Elections, the political parties of candidates Senator Barack Obama, the Democrats, and Senator John McCain, the Republicans, are practicing being credit millionaires.
In a generally tight credit market, collectively, $15-million in lines-of-credit are being tapped.
Specifically, $10-million by the Democratic National Committee and another $5-million by the Republican National Committee.
They have borrowed money to fund the political campaigns on their candidates, as well as further political agendas on the issues. This news is of particular importance to you because it addresses one of the common credit millionaire questions: "Do lenders loan money for marketing efforts?"
The answer is YES.
Further, when you consider that by very definition, 50% of these campaigns will fail, what makes it possible for lenders to say, "Yes"?
Lenders say yes because these groups have already built up a community of likeminded people to whom they can go out with an offer. In this case an offer that basically says: "Give us money so we can get a job." :) In other words, they committees have borrowed money to fund their campaigns that allows them to ask for more money.
In your business, that might be the equivalent of borrowing money to pay for a direct mail campaign to find investors in your business, or business partners for a project, or simply customers. Banks would lend money to a future marketing campaign if you show them you have a hungry market of people waiting that have already asked YOU for your product.
With that stated, every Credit Millionaire should be developing his or her own community list of subscribers and like minded people. Your contact list is an asset in your business, both on your spreadsheet and in your credibility kit. Thankfully there is technology which can help.
Here’s the recomended online solution to build a community that can allow you to borrow 7- or 8-figures for your marketing.
If you would like to make a comment, please fill out the form below.
