avoid 300x188 - Millionaire Rule # 3: Avoid Get-Rich Quick Schemes


Tony Lewis, the business owner, and writer was determined to get to the bottom of as many ‘get rich quick’ schemes that seem to pop up every day on the Internet. He found everything from real estate investing to affiliate marketing, all with incredible claims of making loads of money in a short amount of time. You do NOT want to fall prey to these scams and con artists. When Tony made the effort to get to the bottom of these so-called legitimate programs and investments for making money, he posed as an investor and managed to convince the owners that he was seriously interested in purchasing their entire business and website.


When the owners realized how much money they could make by selling their business to Tony, they gave him free access to their private member areas to review what he would be buying. In fact, the owners actually bragged about how many people had bought their useless programs. He continually found links leading to other websites that would ask for more money or the links didn’t work at all. There was no email support or help section and you could forget about ever getting a refund. Of course, when they contacted him again to see if he was still interested in purchasing their business, he didn’t respond to them.


You need to understand the difference between investing and speculation. When you are engaged in a business that generates cash and is sustainable, then you are investing. Generating sustainable cash over the long haul will yield value. When you are ready to get out of the business or do something else, you can sell it for a nice profit.


Speculation is often based on taking advantage of human nature, appealing to people’s laziness to get rich quick without much effort.


Take the above description of an investment and remove the cash-generating capability of the business, and what you end up with is pure speculation. The only way to get more money out of the prospect is to sell it at a higher price to the next person.


Needless to say, when you are doing the buying, you are speculating. Assets or a business that generates cash is considered an investment because it pays you on an ongoing basis.


To avoid someone else’s get-rich-quick scheme or fraudulent venture, ask if you are building value or speculating? What do you want to be – a speculator or investor? Is that next purchase going to generate cash flow for you or not? You have to figure out how to leverage your strengths. Too often, we focus on our weaknesses instead of our strengths. For example, if you are great at marketing or coming up with creative ideas, then you should focus on coming up with solutions to solve problems. If you are not good at accounting, then you need to surround yourself with people who can complement your weaknesses.


Whatever you are not good at, find someone who can handle that part for you and preferably someone who shares your vision and values. These people should still challenge you and tell you the truth. These are good people to have around. Wherever there is a void, there is a product or service that you can fill. Being a trailblazer can be an exciting opportunity that solves problems for other people. Interact with those people who want and need what you can offer. Don’t push your interest on them and take the time to listen to people. Establish yourself as an authority in whatever field you decide to




Happiness is not found in a fixed number – it is all predicated on who you truly are and what you find fulfilling in life. The mindset is the same whether you are a millionaire or not.



Quick TIP: Some people find joy in the pursuit while others find joy in the numbers, so take some time to prioritize what is important to you.




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