I figured now would be a time I could go into my experience with them. Here is a list of programs I have done, and my experience with them:
1. 12 Daily Pro (No Skill Income): I borrowed money on my credit card to put money into it. It collapses right before I could get the money in. I decided to start a business with the money.
2. Passive income importer startup: Managed to get over $1,400 in commissions from people recommending it. Also, I put $600 of my own money in. Currently, they are being audited by the S.E.C and payouts are frozen to people until the S.E.C approves. There is discussion of merely returning the principle back if things don't go right. Apparently they broke some obscure rule or two, and the S.E.C came down. If this works out, I will be getting over $10,000 from the investment I made here. But it is at risk.
3. A travel club that paid returns on purchases (Passive Income): Started out fine, but has run into problems with hackers stealing funds, and checks being delayed due to changes in the payment plan over time to new purchases. Checks apparently were being paid "like clockwork" up until I got involved.
4. Two surf programs with one company (No Skill Income): I borrowed against my credit card, maxing it out. Went fine several months. Right before I was about to get funds out, things started to go wrong. First they said they were having problems with the server, then they said they were having fraud on the part of members. Surfs are now set to go through relaunch, and I am awaiting to get paid. It is going over 3 months now since people have been paid consistently. The company is now looking to get set up with the S.E.C to engage in legitimate investing. Company is also going through an auditing process. Their excuses sound like a "dog ate the homework", but I wait and see.
This is my experience with Passive Income and No Skill Income programs. I press on with EDC while waiting for issues to get ironed out. With EDC I am in decent control, and depend on my skills, plus I have gotten training also. With their release of Promo Black Box in May, I will be able to make around $500 per sale, plus a 5% residual on future sales to the same business.
Procede in these type of programs at your own risk, and make sure you can afford to lose what you put up. These programs are of greater risk than your own business because you have less control. One thing I have found is any glitch and delay can drive one to possibily panic. I know I have had to deal with it.
Showing posts with label passive income. Show all posts
Showing posts with label passive income. Show all posts
Wednesday, April 18, 2007
Monday, April 16, 2007
A word on "No Skill Income" (NSI) Programs
I am commenting here on something I am calling "No Skill Income" (NSI) Programs. These are programs like passive income programs, but require people to do things that anyone can do and require no skill.
NSI programs are arguably a "Holy Grail" in the business opportunity arena. Even network marketing gets pushed sometime like this. Just join program X and do these three simple things and you will make a TON of cash.
Well, want to know the truth? Unless such programs are actually have people doing investing in a business in some manner, where the money is used by the company to make money, what is being pushed is a lie.
In reality, people make money in one of two ways, if they aren't working a job. You either have your money working or you own systems that make you money that enable you to leverage your time. The former is investing, which is a skill unto itself of due dilligence and checking out legitimacy. The later is being a business owner, which involves not only doing due dilligence but effectively running the systems you own so they are profitable. Included in this is the skills of sales and marketing (list building), cashflow management, record keeping, and hiring (hiring includes finding specialists like lawyers and accountants to do your paperwork). All these skills are learned and take time to master. There are also others, but these are mentioned as examples of skills used in business.
In the business opportunity arena you get a majority of people who want to make money without developing any new skills. They will jump from one opportunity to the next thinking that it is the opportunity that is the problem, when it is themselves that have the problem in most cases. Each time, they will try to seek out something promising to be more and more of a sure thing while requiring less and less skills. Then someone rolls out what looks like a "passive income" program, but it is a no-skill program, particularly when individuals fail to effectively research and do due dilligence. Treating things like crapshoots and blindly just doing is NOT doing due dilligence, it is gambling.
All I can say is get skills of SOME sort and keep learning, and don't expect to find something that will just drop in your lap, and demand NO skills from your part and expect it to work miracles just because you joined. Your success and failure are up to you. End of story here.
NSI programs are arguably a "Holy Grail" in the business opportunity arena. Even network marketing gets pushed sometime like this. Just join program X and do these three simple things and you will make a TON of cash.
Well, want to know the truth? Unless such programs are actually have people doing investing in a business in some manner, where the money is used by the company to make money, what is being pushed is a lie.
In reality, people make money in one of two ways, if they aren't working a job. You either have your money working or you own systems that make you money that enable you to leverage your time. The former is investing, which is a skill unto itself of due dilligence and checking out legitimacy. The later is being a business owner, which involves not only doing due dilligence but effectively running the systems you own so they are profitable. Included in this is the skills of sales and marketing (list building), cashflow management, record keeping, and hiring (hiring includes finding specialists like lawyers and accountants to do your paperwork). All these skills are learned and take time to master. There are also others, but these are mentioned as examples of skills used in business.
In the business opportunity arena you get a majority of people who want to make money without developing any new skills. They will jump from one opportunity to the next thinking that it is the opportunity that is the problem, when it is themselves that have the problem in most cases. Each time, they will try to seek out something promising to be more and more of a sure thing while requiring less and less skills. Then someone rolls out what looks like a "passive income" program, but it is a no-skill program, particularly when individuals fail to effectively research and do due dilligence. Treating things like crapshoots and blindly just doing is NOT doing due dilligence, it is gambling.
All I can say is get skills of SOME sort and keep learning, and don't expect to find something that will just drop in your lap, and demand NO skills from your part and expect it to work miracles just because you joined. Your success and failure are up to you. End of story here.
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