Using OPM (Other People’s Money) As A Marketing Tool
I signed up a few weeks ago for some training by a marketer who’s list I’ve been on awhile and who seemed a regular, up-and-up guy. He’s young and apparently has built himself quite an empire. His instruction so far is in line with all I’ve been learning. I joined the traning, hoping to get a little kick in the backside on my journey to creating my own product. No rocket science concepts, just straight-up do this, then do that, then do the next thing kind of information.
Apparently somewhere in the registration process I entered my real phone number, and today I had the pleasure of speaking with a young man in the employee of this empire. We had a nice chat, and I waited to see what it was I was going to be sold. Turns out it’s mentoring, a perfectly reasonable pitch as a continuation of the free information I was getting. I explained that I understand how valuable mentoring could be, but that I’m not ready to make a financial commitment right now.
That’s when the conversation went a little sideways. This nice young man asked if I knew the concept of OPM. Well, yes, as a matter of fact, I do understand the concept of Other People’s Money. However, my understanding of it and his understanding of it don’t quite jibe. He seemed to be under the impression that using a credit card constituted using somebody else’s money.
Ummm, no it doesn’t. And I do hope he and the rest of that organization truly are just confused about the concept and not trying to con folks into feeling safe about using their credit cards/credit lines to pay for their mentoring.
You see, you can call your credit card company and ask them if, once you authorize that charge, they consider the obligation yours or theirs. Go ahead, ask. Just don’t tell them who you are or what your account is, because I’m sure they’ll have some pretty serious questions about your ability to understand the terms of your agreement with them.
Once you authorize a charge, the money is yours, as is the debt, the requirement that you pay it back with interest. This is no way constitutes using anybody’s money but your own. It’s the very basis of credit and borrowing, no matter how a sales person may try to change the wording to make it seem something it isn’t.
Now, I would have been okay with the fellow suggesting that if I had credit available, investing in myself and my education might be a good use of those funds. That’s fair and true. But trying to turn that expenditure into something that it clearly is not is distressing.
I will be canceling my participation in the training. Even if it was giving me new and great information, rather than reinforcing concepts I already know about, I just don’t want to have any association with a program that either doesn’t understand money (best case) or that is purposefully trying to fool me with misrepresentations.
Be well.











