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  • Sunday 20 September 2015

    Get-Rich-Quick Schemes Targeting Bloggers and Entrepreneurs

    Most people start Blogging with the intention of making money online, this Trend has attracted scams to get simple cash from Bloggers, in my recent article on Spam targeting Linkedin Members I shared a conversation I had with a scammer who offerred me a business proposal to trade some minerals with the Armando hospital Equipment Company which is probably an international scam that has robbed people millions of Dollars , with professional scamers working on it, I almost lost 13 Million dollars which was going to leave me broke but thanks to the research which gave me details on the scamers before I went ahead with any transactions.

    Making money online is the best practice in which Entrepreneurs make money, but as some are making money but some are losing money , whereby we all want to make a profit .

    Scams are not only on the internet but they are everywhere Magazines, Television, Posters, and other sorts of media. The most famous type of schemes that people usaully follow are pyramid schemes whereby people make money by recruiting others into joining. The majority of people who invest in these schemes usaully lose their money in one go despite all the the things said during these promotions.

    Pyramid Schemes

    Usaully pyramid schemes are usaully promoted with seminars which are made to put people into action and making them believe that there is a possibility to quick wealth.  Normally in these schemes each person who joins is required to make a pre payment to the promoter and is then convinced into getting more people into joining the network in order to get their investment, as they get to join they are to get more people and more people into joining.

    The main focus of this business is only recruitment rather than on selling products and services or investing in the markets. Pyramid schemes make money only by recruiting people and if the recruit is not successfully done then there is no revenue generated. Normally these schemes don't last or a few get to make it.

    Money Multiplication Schemes

    These type of schemes have been very much known in the United States as many people have lost money through them, they normally promise clients returns of up to 20% or more per annum investment. Instead of investing money, these businesses meet their minthly commitment by using money which had been invested by others. These type of schemes are not considered to be reliable as they will only depend on the availability of clients and if there are no clients then the business is doomed.

    If you are really looking for an investment company to make an investment you must ensure that the company has a good reputation and has an FSB certificate which gives a legal right to manage peoples money. It happened recently when a Forex trader by the Prince Mazibuko started doing well with his trades and went to make over a million in profits, which attracted many people who wanted to invest their money and the guy simply took the peoples money and took off just like that without having to bring back the peoples returns.

    So bloggers becareful out there and don't just lose money anyhow but invest in FSB licensed investment Co operations. I am a Forex trader and a blogger, I have seen many people lose money in no time, many bloggers are looking forward into great monetization and my motivation for them is that they should keep their eyes open.

    Sifiso Nkwanyana

    Author & Editor

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