An Honest Day’s Work: Staying Away From Get-Rich Quick Schemes

Unless you are an heiress who stands to inherit your own multi-million empire, you have to put in more than your share of elbow grease in order to make a living. Even in internet marketing, things do not come as easy as you want them to. There are no quick and easy way to get rich – at least, not in the legal and legitimate sense.

In as much as you are drawn to internet marketing schemes that promise you in staggering figures in the seven-figures at the very least, you do not want to plunge into these schemes without questions asked. It is better for you to take the time to think things through rather than to regret your decision later on.

 

There are classic get-rich quick schemes that you want to avoid in your internet marketing activities. Always remember the basic investment advice that “if it sounds too good to be true, it probably is.” The statement “get rich quick” alone already sounds too good to be true. Any other message after this will likely be bogus or skewed too. The truth is, whether in internet marketing or in any other industry, you have to work in order to receive and accumulate wealth. And, when you have successfully accumulated wealth, you have to put your money to work through wise investment opportunities.

In most of these get-rich quick schemes, you are lured into investing money or buying a product with the promise of returns when you get others to do the same way. Make no mistake about likening this to affiliate marketing. Affiliate marketing is a legitimate selling proposition wherein the affiliate acts as the sales and marketing person and promotes the products and services of a company through approved and acceptable techniques. To understand these get-rich quick schemes better, you have to read up on the following:

  • Multi-Level Marketing and Pyramid Schemes – these schemes let you put in money, often as a membership fee or an initial investment fee, when you enter the program. These schemes normally make use of a product line that you are supposed to “sell” to your recruits. When you recruit other “investors” or buyers in a specific pattern, you earn a percentage of the fee that they make or from the purchases that they make. The most popular are the binary model and the pyramid model.

  • Ponzi Schemes and other High Yield Investment Programs – there is usually no product offered for these schemes. These are offered as alternatives to financial institutions that do not grow your money too much. You are asked to invest a certain amount and then look for other investors who will likewise pay the same amount. You will get a certain percentage of your money after a short period of time, and subsequently in regular intervals for as long as you keep on building your network of investors.

What you do not know is that the money that is given back to you and to the other investors is actually money from the latest investor recruits in the group. There is no investment instrument that is growing to give you the stream of income in these schemes. The person who is running the scheme is actually just moving money around and using new money that comes in to give other investors their money’s short-term “yield.”

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Paul Agabin is the Founder and CEO of Wooka Interactive. He is an internet marketer based in the Philippines which deals with varied topics such as local industry news, seo strategies, content marketing, inbound marketing, social media management, website reviews, and the like. You can contact him at 0917-5069839.

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