You want to start a business but you don’t have the money, welcome to first lesson in entrepreneurship. Figure it out! Every entrepreneur knows that your passion will always be your driving force, but every businessman and woman knows that money is and will always be the main element needed to run your business. To grow, scale, and expand your business, understanding how to use other peoples money, or OPM, is key to efficiently leveraging your business. Serial entrepreneur, Solomon Lacy III, who is a master in accessing capital and funding, says you need to “plan your work and work your plan.” He goes on as to say, “the most important lesson I’ve learned in business is if you don’t have a plan for your money, you best believe someone else does.” Lacy is the founder of Leverage Over Everything Group, a finance mentorship that works with many business owners, entrepreneurs, and investors around the world to establish businesses and relationships that position them for unique lending opportunities.
All entrepreneurs experience a few failures and setbacks in their journey. Those remaining and thriving have figured out solutions to challenges and oppositions, rather than allowing them to take them under. There can be many contributing factors as to why one fails in business, but Lacy has identified that undercapitalization is the most common and he assists his clients through this with educating, consulting, and mentorship.
Lacy knows that when it comes to business, one of the most overlooked skills is being able to create capital to leverage into ventures correctly, without taking on unexpected financial risks. Through Leverage Over Everything platform Solomon offers business consulting that includes professional guidance to individuals and corporations to help take decisive actions to achieve financially-sustainable results. Lacy also understood the financial difficulty individuals and small business owners were facing due to unforeseen times and lending mood changes. So Lacy has since shifted his business model and focus to filling those information gaps individuals and entrepreneurs lacked the new financial know how. Most small business owners problem is just cause they own a small business they operate like a small business and lack financial strategy. The inner circle was designed to start educating and empowering individuals and entrepreneurs with needed skills. The name of the group is leverage over everything and that’s exactly what is being taught how to gain financial leverage. The group is based around four key principles optimize personal credit, build business credit, get funding, buy passive income or invest in your business. Inside of program Solomon trains the group weekly on his experiences and advanced strategies on how to use and access maximum business capital. Lacy also uses his network to bring in guest speakers to highlight their own trials on their journey.
Lacy explained how offering credit and funding services he felt like a used car mechanic he would fix the issue and see the client back in 3 months. Good for business but bad for the client cause they are using service as crutch. Meaning I would repair the credit issue or help them get capital but not fix the root problem which was continued knowledge and accountability this information gap birthed the inner circle.
The LOE programs were designed to educate and mentor the next generation of entrepreneurs.