Making Money Online

Before you start reading this article, why don’t you perform a simple Google search on the title of the post. I just did: 54,600,000 results! And counting.

Why all this interest in making an online income, whether a supplementary income, or a main one? I don’t think there’s one definite answer, but among the reasons could be the following:

1- The economy is still soft. Finding a traditional job is not that easy anymore

2- The hype: So many people have the false impression that making money online is easy, and requires minimum, or no work at all. That’s why the failure rate is more than 95%!

3- Unlike making money off-line, scam is the mainstream of most advertised opportunities

4- A lot of workers have become fed up with corporate cultures. They want to have their own thing. Unfortunately, while the frustration is understandable, securing a viable alternative online is difficult, to say the least

Does the above mean you can’t build your own online empire? Not at all. It just sheds the light on some of the facts that most of us ignore, as we become hyped up by the attraction of easy, fast money.

Millions are being promised within a month or less. When you get in, you realize that those millions were made under very special circumstances, which you can’t imitate, unless you “upgrade” to the premium “package”, spending more money on an illusion!

So what should you do?

The first step would be to ask yourself: Why do I want to make money online? Even if the answer was clear in your head, write it down, in as much details as possible. This would be your vision.

The next question is: Do I have what it takes to create some sort of an income on the Cyberspace? To answer this one, you first need to know “What it takes”, right?

I can tell you few of the factors, but you must do your own research as well.

It takes time, dedication, the ability to work alone, or in other words, discipline. It takes time management skills, and it may take some money; a starting capital. Finally, it takes finding the right, legitimate online opportunity, that fits your needs, your resources and your skills. A business that has the potential to fulfill your vision.

The third question is: How would I find such an opportunity? And how would I know it’s legitimate, not scam? You’ve got to search for it my friend! Exactly like searching for a business opportunity off-line. It could be joining an exsiting online business as an “affiliate”, making money through commissions. Or it could be starting your own online business.

I’m going to leave you now to think about this topic. Please share your thoughts and/or questions.

In the next post, I’ll talk about different categories of online opportunities. Stay tuned!

Wish you happy and safe online “work”…

The Wealth Maker

High Yield Investment Programs (HYIP’s)

Looking for quick and easy riches has become a fertile soil for fraud. Today I’ll talk about a trend that has been gaining momentum due to the current financial atmosphere around the globe.

HYIP’s have been popping up out of nowhere every day. They play on the novice investor’s emotions, and to some extent, greed.

The promise is very tempting: Put down as low as $1, and start earning an hour later. If you kept re-investing, you could convert that one buck into $200 easily within 48 hours.

Now try to withdraw all or some of your earnings. To make things look professional, and to get you deeper into the greed hole, the program may actually process your first, and probably second, withdrawal requests. By doing so, it gains your trust, and makes you either leave your profits in the program, or even worse, deposit more cash, lured by the promise of fast accumulation of wealth.

Usually, not all investors ask to withdraw their profits at the same time. This gives the program admin enough maneuvering room to circulate the money among the members, till that admin runs out of spending cash. Now here is the critical point in the life cycle of an HYIP: The organizers wouldn’t distribute all the cash. They keep the bulk for themselves. Absent any real investment activity, such as trading, or real estate investing, the only available cash is the sum of the members’ deposits!

Once they run out of “spending” cash, the modern thieves shut down the site abruptly, disappear, and take with them most of the invested money.

Are there any legitimate HYIP’s out there? If there were, they would be very hard to find. And the only way to test their legitimacy is trial and error.

The web is full of HYIP “monitors”. They invest in a certain program and watch it for a number of days. After that, they give it their blessings as “Paying”. Big deal! Yes, they do pay for some time, but no one knows when they will disappear.

This phenomenon is not new. The proliferation of such programs has increased exponentially because of the web. It’s so easy to find a web host who accepts your site as anonymous, which gives you the freedom to close shop anytime you want!

This is hard to regulate. The only cure, in my opinion, is knowledge. Investing, like any other trade, requires proper training. No respectful training house would encourage you to invest in such programs

Today they call themselves HYIP’s. Who knows what the acronym would be tomorrow? Lucrative Profits Made Easy (LPME), or something else!

I invite the readers of this post to comment, share their experiences, and suggest ways to limit such harmful behaviours from distorting the image of a worthwhile industry like investing.

Till the next post, stay safe and away from suspicious investment vehicles!

The Wealth Maker