Friday, March 14, 2008

Making Money Online Intro: Don't buy into the hype!



As a frequent traveller, and idealist and a guy who dislikes the idea of limiting himself to perform a particular task 5 days a week 8 hours a day, I have a healthy interest in developing sources of residual income. That is, income that will keep, well, coming in, without me putting much further effort into it other than the initial investment. Sounds good? I thought so too.
As such, for the last few months I have been scanning the web for different methods that people are achieving this. There appear to be quite a few.

-Adsense and other adevertising revenue products
-Multi-level Marketing products (MLM's) and other forms of network marketing
-An actual online retail business and
-Other online businesses that provide a service, such as friend-finders, lavalife and such.

Now, for those of you who have bought into the hype that surrounds many of these, such as "you do nothing and get all the cash", "make $5000/day!" and "it's so easy ANYONE can do it!", it simply isn't true. All of these methods require some sort of substantial investment, be it time, money or both. The idea is to put in vast amounts of initial investment in order to provide yourself with a low maintenance continually growing source of income that you only have to put in a few hours here and there for. Of course, it takes a long time to get here with any of these businesses: those that tell you otherwise are either lying/bending the truth, or are the extreme outside exceptions.
As such, no, not everyone can do it. That would be like saying everyone can surf. You can try and fail miserably (never wanting to see a surfboard again), try and get a serious injury, succeed at first and still get a serious injury, or put an inordinate amount of time and effort in to learn only to find you could have better utilised your time climbing mountains or some such.

So the first lesson is: there are no easy ways out. You can make money online and change your lifestyle as a result, but you must be willing to put in the work to get there. My next "making money online" post will cover MLM's and network marketing.

Now go and smell some roses or something.

4 comments:

Anonymous said...

Hey there, i looked up this website. http://www.surveyadvise.com/au/payoutau.htm
What do you think..is it a scam or what?
Have a nice day.

Jetsam said...

Hmm it doesn't seem like a scam, however be aware that you don't send them any personal info you don't want them to have. Individual surveys may require paid membership, at which point I would advise that you quit. If at any point it seems risky, simply don't go any further. I'm not sure what they have to gain from you filling out surveys for other companies, but if it seems suspicious be on your guard.
With any of these things, it is a good idea to set up a free email address to enter when they ask for your details. This is something that surveyadvise reccommend.
If you do take up the offer, let me know how it goes.

Jetsam

Anonymous said...

I joined up with surveyadvise and the $13 signup bonus in 24 hours sounded great so I signed up with all the company's and 5 days ago put in a claim and haven't recieved it, I've lodged 2 support tickets and no one has got back to me. For all the effort I went to seems like a waste of time but if they don't pay me i'm gonna make life hell for them and they're gonna wish they had just paid. $13 it's not much but it's the principle I'll be notifying the bbb and consumer affairs and any tv station that will listen, they dig their own hole they're gonna lie in it period!

Jetsam said...

Hi Anonymous, thanks for the info! It really bugs me when companies do this, and they often get off on some sort of technicality. Don't be surprised if TV stations and such show no interest, there are people promising all sorts of things on the web, and most never get what's coming to them. I wish you luck in your quest to get them to pay what's owed to you.
One thing I have noticed with all paid surveys sites, and sites that refer you to them, is that they are all extremely slow at doing anything. If you don't hear from them soon, definitely do what you can. But hey, if worse comes to worst, you still have membership with a number of reasonable sites that do pay out.
In particular, I have been paid regularly by Valued Opinions and Market View. They take a little while to calculate things, but they have it written that it may take some time. In the end they do pay out.

Good Luck! Let me know if you receive your money, or if you have success in another fashion...

Jetsam