Sunday, June 24, 2007

Making Money Online: An Honest Opinion

Many people today go online to start an internet business either to supplement their income or to gradually replace their offline income from their job with an online income. Most people happily join business opportunities and money making ideas online filled with hopes, aspirations and dreams of great wealth, thinking that their financial woes are over. Many business opportunities promise such things if you did a quick search through google. But what most people fail to grasp is whether the particular business opportunity will work for them. This article will examine different money making models online to let you evaluate whether which type of business suits you.

1.Internet mlm programs

These are programs that require you to recruit downlines online and convert online customers into paying members by calling them on the phone. Another way to make money with these programs is to sell their products either online or offline. So in other words, if you are not the type of person who loves to call people on the phone or sell stuff offline in flea markets or tell people about your products, you will not make money with these products. That said, with some automated email followup systems, it is possible if you generate a lot of signups to allow the system to convert the signups into paying members. But that said you still get a higher conversion ratio if you call them.

2.High Yield Investment Programs

These are online programs that take your money and supposedly invest it online in forex and other types of securities. Do note that these are high risk investments and mostly are Ponzi in nature. That being said, the strategy with all these programs is to take out your principal and then compound the initial invested amount partially and earn more and more each month. You need to be able to take the loss of your principal in your stride as the returns are high and the risks that the administration of that particular HYIP program running off with your money is high as well. Spend some time daily to check the HYIP forums to see if a particular HYIP is paying before investing any of your hard earn money into it.

3.Doubler programs

These are basically programs that double your money invested with them after a certain period of time. These programs require you to spend some time each day reading the online forums of that particular program to check whether the company cycle time is going up and whether they can afford to pay their members. If you have the time to read an consider whether any program you are in is a sinking ship, this kind of money making activity online may be the one for you.

In conclusion, choose a way of money making online that suits you and spend time to learn all you can about that form of money making.

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