What does pyramid schemes, lottery tickets and making money online have in common?


Lots of scam.

And your chances of succeeding is very very low.


Myths of Making Money Online (MMO)
I have been selling online for over 5 years now and whenever I'm approached by "gurus" teaching me how to make money online, I get the shivers.

Most of them have not sold anything online rather than their e-books. Most suddenly "jump" on the horizon and claims to be an "expert" in their field (especially the various fields of Internet Marketing).

They get you on their mailing list then keeps on sending you emails after emails of how rosy life is, not having to work at all, and yet making all the big bucks. Among these are many emails touting the next "best IM techniques known only to the gurus", giving you a link to a $47 e-book.

In between, they'll promote other folks products too, thus earning massive affiliate comissions. Thus, no need to work and see the money coming in!

See how rosy is this? Most newbies get all caught up by the story, enticed by all the sales pitch and very quickly wipe out their credit card for this "latest and greatest".

The above 3 schemes also have one thing in common. They appeal to man's innate desire to get rich for the least amount of work involved.

Yes, aren't we lazy, greedy bastards? All of us? Inside you, admit it! No wonder so many are so attracted to the MMO hype.

Thus it's easy to understand why MMO is so popular and every month sees thousands of new "gurus" appear out of nowhere.

It's like the gold rush of the 1800s. The ones making money aren't the gold miners but Levi Strauss and folks selling shovels.

Same thing with MMO, the pioneers are the ones making all the money while everyone else buys and buys their ebooks with the "latest and greatest" techniques. 

Most of these gurus tell you the path to making easy money online is to find a profitable niche, write an ebook around the topic then market it. Absurd. So what if you are not interested in the topic?

I excel in doing things I enjoy. I believe you are no different. When the going gets tough, due to our attachment on the topic at hand, we don't give up so easily.

Some gurus offer you the profitable way to Google Adsense by incorporating Black Hat tactics. Basically techniques shunned by Google themselves. Sure, you may make some money right away but when Google finds out about this, you risk your account getting banned.

Private Label Rights? Heard of this? Write or hire someone to write these articles then sell the package to you. In other words, they do the content for your website you so that you don't have to. You only need to label it as your own work. Some comes with Resale Rights so you could sell off as e-book products. See the fallacy of this scheme?

The guy who sold you the package can't possibly just sold one to you. Chances are he sold to many folks as well. When everyone puts up the same content on the Net, Google regards it as duplicate content and your site gets black-listed.

These so-called gurus make money online usually by using techniques to "beat around the system". They then very quickly sell e-books on how they did this. When you and me believe their stories, buy up their expensive e-books, then "cheat our way through", they make all the dosh! Then when Google or whichever system is "cheated" makes changes to their system, you'll suddenly found you are back to square one. Well, most likely a lot poorer.

You know the saying a fool and his money will soon be parted? I guess many of these "suckers" asked for it themselves and I simply have no sympathy for them. But from time to time, when I read on forums about retirees wanting to make some money online, but blew their money on ebooks after ebooks and still not seeing any money, I draw my line here.

I hate to spill the beans but there really is no secret in doing business online. You just need to put in the hard work and approach it like any other business. You still have competition and the ever changing business environment to contend with.


Why sell online?
Savings not enough for retirement?
Potential for multiple streams of income>
Lowest investment cost/risk but potentially highest returns?
Opens 365/24/7?
You can have best of both worlds, running an online business but still keeping your day job?

I could go on and on, and I'm sure you have heard of many of the above too. The first point is especially true. Irrespective of which country you are living now, retirement cost is only going to skyrocket.

The advantage going online is your fixed overhead cost is low yet you have the widest/cheapest distribution. In truly "The World is Flat" style, you could be a punk (yours truly here) with a boring day job in Malaysia yet selling products to all corners of the world. Plus its always ON, your site is like a 24/7 store, never closes, never sleeps.

Thus I truly believe it is the best business model today.


You can have best of both worlds, running an online business but still keeping your day job?
Look at me. I'm enjoying the best of both worlds.

I have the stability, fixed income plus all the benefits of a day job (don't under-estimate medical benefits!) Yet I get to exercise my creative side, and spread my message of diy audio to the whole world.

The income from my hobby frequently exceeds my day job so the money definitely comes in handy. We could take yearly holidays abroad, give a bit more to charity, afford the luxuries in life and still set ourselves on the way to financial independence.

Yes, 2 jobs, double the income but still having fun!

I don't care whether my boss gives me a pay raise. I don't care if he gets upset over me. I don't need the job but I'm only staying to help me build my passive income faster.

So you are saying you are very happy with your day job? Well, things change fast. 5 Years after Jim Collins and Jerry Porras wrote "Built to Last", a wonderful book looking at practices of companies that have grown and strived over the years), even the author admitted himself many of the companies now won't make it to the list.

Big companies are under tremendous pressure to deliver higher profits/growths to shareholders. Year after year, it gets more difficult and sooner or later, the idealist gives way to the pragmatist.

Things may be rosy now but I'd rather do a bit of groundwork now and start an online business on the sideline, rather than panic when I'm suddenly out of a job.


Potential for multiple streams of income

It's easy to create multiple streams of income too. See the above? An online business is the easiest to set up, run, AND add multiple streams of income.

Once you have a website, pulling traffic in, having adverts on your site easily rakes in more money. And this is passive income, the kind that doesn't require your supervision once set up.


No niche is too small
In the traditional brick-and-mortar business, market feasibility study needs to be taken seriously. You need to know your market. Thus for fastest profitability, numbers matter. What is your market looking for? In this case your market is probably everyone within a 10km radius. What's their profile like?

It's definitely risky to run a niche business than one dealing in everyday goods. Say how many within a 10km radius are interested in building your own stereo (my niche)? 30? 50?

Things are different online. Thanks to the low cost of distribution, anyone who has access to the Internet is a potential customer. The numbers game favour you here!

No niche can be considered too small now that the whole world can access your site.


Now is the time to start!
The mechanics of selling online is all in place right now. There has never been a better time than today to start your online business.

Chris Anderson's "The Long Tail" talked about how we are evolving our hit-driven economy from an

5 years ago, when I first started, there was no blogging, open source shopping cart programs. Today, I use these tools all the time!

Back then, market acceptance towards e-commerce isn't very good too. Remember the dot com bust?

Doing business is not just having all the mechanics in place but timing plays a crucial role too. How about access to all the software for the small business?

10 years ago, I'll have to code my site in plain HTML. Probably some difficult CGI or Perl script for more interactivity with web visitors. If I want more functionality, I'll need to pay for very expensive software or hire programmers to do the job.

Today, I can install an open sourced forum software and run it off my site.
I can also use an open source shopping cart system to manage my online store.
Integrate with payment getway systems to offer various payment options for customers.
Download more scripts to install an affiliate management system to hire an army of sales personnel.


Okay, don't you think you should get started now?

Start Your Online Business