OPR stands for “Other People’s Resources” and this term is used when talking about investing. It’s a popular term used by Robert Kiyosaki in his books. What the heck does this really mean though? Having some form of control over your assets is called leverage. When you leverage Other People’s Resources to accomplish your investment goals, some examples are using outsourcing, utilizing virtual resources, or doing co-ventures or forming strategic business alliances. You can also count licensing as a form of leveraging OPR.
Posted by Chad Albury
Monday, June 9, 2008
OPR – What the heck does this mean?
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Would you describe in more detail how you would do some of the examples you listed?
ReplyDeleteOutsourcing
Utilizing Virtual Resources
C0-Ventures
Strategic Business Alliances
Licensing
Don't these all take my own money?
I'm not Chad Albury, but, an example of leverage could be:
ReplyDeleteStrategic Business Alliances..
It obviously depends on what the business is, and what it's goals are, but an example could be, an exchange of services, instead of money.
I know of a guy who sells Haulmark trailers. He often trades his trailers for hunting privleges or guiding services with others. This would be a strategic business alliance, where no money exchanged hands.
Another one could be, a marketing firm could trade services to a car dealership. For the use of a car, the firm will do all of the marketing, etc. Again, no money exchanges.
Licensing is another one.. Someone else does all of the hard work, and develops something worth licensing.. Then you simply obtain the rights to license his ideas. You can obtain these rights, by money obviously, but you could also obtain these rights by exchanging in other ways, like offering equity in your company, etc.
You just need to get creative, that's all.
Thanks for your comments, you have jumped me into a creative business mode!
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