Virtually any online get rich quick scheme that sounds too good to be
true probably is.
Some people are so eager to make quick money that they
don't put in the due diligence to ensure a company is legit, and they
end up getting scammed and losing their money.
The online scamming business has gotten huge over the last few years and by far the best way to prevent yourself from falling victim is to ask questions.
Get rich quick schemes are methods of investment that will supposedly make you a lot of money will little risk or need for knowledge in the field. If a real company was getting the type of results that they're promising, everyone and their mother would be working for them. The unfortunate truth is that there generally are no "get rich quick" schemes. The road to success is neither quick nor easy - and that's a fact.
The internet holds all sorts of tricks - people trying to get your personal information and your money. By asking a few simple questions about the legitimacy of a company, or product, before making a purchase, you can save yourself a lot of hassle. What does Google say about it? You can usually dig up dirt about a product or potential scam with a few Google searches. Do employees answer your questions or skirt around them? A get rich quick scheme will never be straight forward with you, but a legit company will tell you anything you want to know in full detail. Is it a limited time offer? Limited time offers are almost always scams. If their product is as great as they say it is, it wouldn't be around for a limited amount of time. Sit on your decision for a few days and see if you're still interested at the end of the week.
When it comes to making an investment you have to ask yourself, "Would Warren Buffet do it?" If you can't answer yes without hesitation, sit on your investment for a couple of days. Try to get opinions from objective parties and maybe review the investment with a tax advisor. It boils down to one thing - whether you feel comfortable with the investment or not. If you don't feel comfortable - forget about it. Your gut reaction will usually lead you in the right direction.
Have you ever been scammed or fallen for a get rich quick scheme? I've received the Nigerian money transfer email a few times, I've also seen a bunch of internet marketing triangle pyramid schemes, but I've never spent money on a single one. As an entrepreneur it's important to be able to separate the wheat from the chaff so to speak. The ability to see past shady investments and business deals is a great personality trait for any entrepreneur.
Ron Docie, one of our guest bloggers, wrote an informative 4 part series about the Anatomy of an Invention Scam, I urge you to check it out and to report any online scam you come across.