FIB - Scams 101

income generating

Posted By: Mel. White
Date: Wednesday, January 16, 2008, at 3:39 p.m.(pst)

In Response To: Thanks for your response, Mel... (dale)

>> 2. The link that I put down does go to my affiliate id/ account, not
>> the person who generated the letter...it is evident when one is directed
>> to paypal for the purchase...

That's good. I found other sites and downloaded the "report" but didn't bother to look at the links. I think the issue here is that everyone is selling this but no one seems to be selling the books but the people who are doing that don't have any expertise in the area.

>> 5. I run my own business right now ( have for 16 years) and that's
>> where some time constraints come in..I would like to get out of the
>> business I am in in the future and am researching other ways to generate
>> income

So think about it from the standpoint of your own experience -- what works in real life is what works on the Internet. Would you buy goods or a promise of more income from your business from someone who didn't know a thing about your business? I sure wouldn't!

>> 6. I do not have a lot of money to invest at this time, so money
>> markets, savings accounts, etc. won't do...besides, what's the interest
>> rate in savings accounts these days, 3%????( also, I am not a young man,
>> so time is a bit of the essence as they say)

I'm in the same boat. Have you talked to any financial advisors? We've done that to make sure that we can enjoy retirement (we hope.)

I'm serious about the investing. If you figure out the time and money and energy you spend in hawking a "business in a box" type deal, your return is far less than 3%. Most folks we hear from have spent hundreds of hours trying to promote and do ads, and end up earning around $1.00/hour.

If your business earned you $1.00/hour, would it be worth it?

There are cheap ways into stocks (www.buyandhold.com (which I've used for about 5 years) allows you to put as little as $25 into any stock in the market, no matter how expensive it is. Investing in index funds (DIA, QQQQ, etc) is less risky than most other ventures and over a 5 year term your money can increase by 24%. I use a "dogs of the dow" strategy (www.dogsofthedow.com), which emphasizes getting a dividend for your money on top of whatever it sells for in the stock markets -- so in the 5 years or so, my $2,000 investment went to $3,000... and I didn't put any money into it.

So I recommend stocks.

Less recommended investing (but has worked out for me) is being a microlender at Prosper.com. I pool with other investors and lend out about $50 of my own money at a time. My three loans are paying (over a 3 year time period) returns of 8%, 11%, and 23% (the last was a higher risk loan.)

Anyway... if you're going to start a new business, consider something that springboards from your old business. You have a name and contacts and a reputation as well as steady customers. That's worth a LOT of money, and if you can start it in association with the old business and then sell the old business to someone -- heck, you've got some really hot income potential there.

But Internet "businesses in a box" are going to be a lot of time and truly very low returns.

Seriously.

Messages In This Thread

• How to market internet biz op?
  dale -- Wednesday, January 16, 2008, at 6:59 a.m.(pst)
  • Problem is, you're in competition with a lot of people selling the same thing (or giving it away as a download.)
    Mel. White -- Wednesday, January 16, 2008, at 7:38 a.m.(pst)
    • Thanks for your response, Mel...
      dale -- Wednesday, January 16, 2008, at 10:15 a.m.(pst)
      • income generating
        Mel. White -- Wednesday, January 16, 2008, at 3:39 p.m.(pst)
        • Hey Mel - about investing...
          Dave M -- Wednesday, January 23, 2008, at 7:40 p.m.(pst)

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