So as my quest to make money from home continues, I keep running into something called HYIP. HYIP stands for High Yield Investment Plan, and generally is a nice way to describe a Ponzi or Pyramid scheme. These are of course illegal in nearly every country, and the real question is not a matter of if they will collapse, but when. That said you can indeed make a little money playing the HYIP game, but similar to Forex, these "investments" are ultra high risk.
There are many sites that review these various HYIP schemes, and the owners of those sites are probably some of the only people making any real money in the HYIP game (the sites serve as a referral portal to the HYIP scams, earning the operators profits via referrals). Some of the plans promise a 120% payout in 24 hours. The scam is quite simple, the profits are paid out of new investor dollars. Once the site fails to attract new investors, and existing investors try to pull their money out, the site operators disappear with all the money.
HYIP is a confidence game, the plan managers entice you into making bigger investments by paying out good returns on smaller investments. I gambled a small sum ($200) on a very popular HYIP, and it indeed paid out great, $40 per day in profit! Would an investment of $2000 then payout $400 a day in profits? The answer is maybe, or maybe they just keep your money and blame a DDOS or hackers for taking their site down. Think it won't happen to you? Everyone that has spent any amount of time playing the HYIP has had shady operators run off with the money. Think of the operators as wannabe Bernie Madoffs, but instead of being US based, they operate out of some 3rd world country where they are more likely to get away with this crime.
If you are going to play the HYIP game, against my advise, and fully knowing that it is a Ponzi scheme, well at least minimize your risk by NEVER depositing more than $200 into one scheme. By spreading the risk out over multiple HYIPs you will be able to hedge your losses more effectively. Also with a smaller investment, you are likely to actually be able to recoup your investment, as these scams tend to pay on smaller deposits to help convince less savvy investors into depositing their life savings. Remember HYIP is ALWAYS 100% of the time a scam ~ while its possible to Make Money with HYIP, only gamble money that you can afford to lose.
Tuesday, May 15, 2012
Tuesday, May 8, 2012
Make Money Affiliate Marketing
Clickbank - Don't bother with any of this garbage, nobody really wants to buy any of it, no matter how slick the sales copy, how convincing the videos are, how nice the squeeze page graphics look, its pretty much the same thing. Garbage. Can you profit by promoting this garbage? Sure, but the big money makers are the ones that come up with the top tier crap and market it to shady spammers. If you have quality traffic, this isn't a good way to monetize it. If you want to build Clickbank product review sites, and then rank those sites, then you will be like 1000 other people trying to do the same thing. Maybe you'll be smart and come up with keywords the others didn't think of? Or maybe not. I've promoted a few Clickbank products (some of the only good ones) and never made enough for a payout check.
Commission Junction - There are some good advertisers here, some well known and established brands, so if your website manages to rank on something that's pertinent to one of the niches they cater to, then commission junction has decent offering to consider.
Amazon affiliate - Yes you can make money as an affiliate for Amazon, by building review blogs and getting them ranked. It is in theory possible to earn a small commission for every item people buy after following your link, but the reality is that its hard to earn much this way, and furthermore our research shows that google penalizes sites whose sole purpose is to refer sales to affiliate sites, including amazon!
Most content is far better monetized using AdSense than trying to promote affiliate offers, including Amazon, so we typically recommend going that route first. Its not that affiliate marketing doesn't work (I have several affiliates that earn commissions selling my software), its that these affiliates know how to branch out and communicate with people, beyond just a website. In most cases my affiliates have some sort of interaction with the customers they refer, rather than just clicking a link on a website.
Key Thought:
Interaction with customers drives sales. Active income is easier than passive income.
Some of the biggest moneymakers on the Internet are affiliate marketers. These guys also fill seminar halls and sell their success systems offline as well. These professionals have something you probably don't: charisma and the natural ability to sell.
Commission Junction - There are some good advertisers here, some well known and established brands, so if your website manages to rank on something that's pertinent to one of the niches they cater to, then commission junction has decent offering to consider.
Amazon affiliate - Yes you can make money as an affiliate for Amazon, by building review blogs and getting them ranked. It is in theory possible to earn a small commission for every item people buy after following your link, but the reality is that its hard to earn much this way, and furthermore our research shows that google penalizes sites whose sole purpose is to refer sales to affiliate sites, including amazon!
Most content is far better monetized using AdSense than trying to promote affiliate offers, including Amazon, so we typically recommend going that route first. Its not that affiliate marketing doesn't work (I have several affiliates that earn commissions selling my software), its that these affiliates know how to branch out and communicate with people, beyond just a website. In most cases my affiliates have some sort of interaction with the customers they refer, rather than just clicking a link on a website.
Key Thought:
Interaction with customers drives sales. Active income is easier than passive income.
Some of the biggest moneymakers on the Internet are affiliate marketers. These guys also fill seminar halls and sell their success systems offline as well. These professionals have something you probably don't: charisma and the natural ability to sell.
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