Sunday, September 23, 2007

Wealth Creation - My Learning Curve (Part IV)

Ultimate Wealth Package

Sometime in early 2007, one of my friend send an email to me to ask if I know of a an internet money-making business. According to him, just pay around twenty over bucks to own a website and you can earn lots of money, or something like that. And then you get more people to sign up. I asked him why should I pay for something I don’t need. He replied that “it’s just twenty over bucks, what’s the big deal”. He didn’t actually answer my question.

Subsequently, I noticed many information and talks about “Ultimate Wealth Package” (UWP) in the net. It claims guaranteed earnings of a few thousands per month by just following simple steps and then the rest will auto-pilot. So I start to search the net for information and read forums discussion on this matter. Channel NewsAsia’s forum has a thread on this topic. It’s quite interesting actually, reading how people fighting over this topic. As usual, everyone come out with his “valid evidence” to prove that UWP is/is not a scam. There are almost 80 pages for this thread and will probably take a few days to read if you start from the very first one. I lost my patient and jumped straight to the most recent posting. Guess what happen? Well, all the excitement and positive feedback almost died off. There are more people talking about how to get a refund from this UWP.

From the forum, this is what I picked up. You need to pay about US$50 to join the UWP and receive a free website plus ‘e-book”. You are suppose to read the e-book as it is a guide to make lots of money from internet. The income source actually comes from selling this e-book. When someone comes into your website and sign up for UWP, you’ll get a commission. Therefore, high traffic is the key to success. Also when someone visits your website and click on the AdSense, Google is going to pay you (I got one on my blog too). And to create the kind of traffic is not easy (that’s why the traffic on my blog is still pathetic). Your so-called upline will teach you on strategies such as subscribing to Google’s AdWords. But you got to pay for Google AdWords!!! This is how it works. You select a keyword for your website. When someone does a keyword search, your website will surface right on top. For every click by a net surfer, you got to pay for it. For hot keyword like “millionaire” you may even have to bid for it at high price. So every click will cost your based on that price. And as you can see, if you are lured to achieve sales result and use Adwords, your cost will go up further.

Next, this is usually how people sell UWP through their website. They are going to use convincing words, testimony to convince you that they are telling the truth; they will swear to heaven and earth. They claimed that UWP is an idiot-prove method of earning a few thousands within a week (and you can fire your boss right away) by doing nothing. You just go through the steps and everything will “auto-pilot”. You continue to make money even while sleeping. They will show you their cheque (screen-shot) and have others to testify on the website. The host will also use local jargon and may also kindly share with you on how to identify internet scam. All these only for one purpose - to win your trust. You will also be given special discount if you “sign up before midnight”; limited editions. So when you sign up the UWP (and the previous host will earn his/her commission), you will also do exactly what the previous host has been doing. Someone in the forum gave a good account about UWP. It sound genuine and I re-produce it below. It may be lengthy.

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Chapter 2 - My 4 proven ways to make money online

Become An Affiliate

When you become an affiliate, you are selling other people’s product online by advertising the product either through your own website or by writing ads using Google Adwords, Traffic Swarm or Instant Buzz which I will cover in chapter 3.

When people buy the product from you, you will earn a commission. The commission can be as high as 75% of the selling price. You can become an affiliate regardless of where you are from. I am from Singapore and I receive a commission cheque every 2 weeks without fail from selling other people’s product. Selling may not be everybody’s cup of tea but selling other people’s product online can be achieved by anyone as you do not need to do cold calling, maintain an inventory, track orders or even ship the product.

If you go to www.clickbank.com, you will see thousands of products that you can promote and earn a nice commission. Most of the products are e-books and software. ClickBank is a super mall selling digital products like e-books and softwares. To become a ClickBank affiliate, you have to sign up for an account at ClickBank http://clickbank.com/signup/. After you have signed up, you can start advertising products.

Let’s say you want to sell the very popular Rich Jerk, create your affiliate link by replacing XXXXX in the link below with your ClickBank ID: http://XXXXX.richjerk.hop.clickbank.net/ Replace XXXXX with your ClickBank ID.

Put the link in your website or ads and start advertising and make money! For example, everytime somebody clicks on the ClickBank link on your website, the link will direct the visitor to the product website and if the visitor makes a purchase, you will earn commission! It is that easy. Let’s say you have a website that sells a product that make US$50 in commission and there are 1000 visitors a day to your website, if 10 visitors buy the product from your website, you will get 10 X US$50 = $500 a day and US$15000 a month! Don’t worry if you do not have a website to promote ClickBank products. You can still promote ClickBank products using ads as described in Chapter 3.

You may be asking everybody is promoting the same product, how can I ever compete with the rest? Yes, this question came to my mind when I started. The strategy is to use my 6 proven ways that I will cover in Chapter 3.



To be continue…..

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