Do you want to make a quick buck? Sure you do. We all do. But have you really thought this through enough? During your entrepreneurial life you will be faced with numerous decisions, some good, and some bad. As a matter of fact, I have friends that managed to turn enormous profits “overnight” without too much effort. It is very possible for companies and entrepreneurs to earn quick dollars; however, is this really what you want for yourself?
Certain “Get Rich Schemes” actually work. Or do they?
I honestly cannot remember how many fake get rich schemes I have read about. These schemes actually work, but they will probably not work for you. One day, a mysterious person who claims that he can help you triple your profits will appear. He will tell you that you have a great opportunity awaiting you, but you need to invest quickly. Many entrepreneurs were tricked by some people in the past, but thanks to the pump-and-dump “detective” Timothy Sykes, this may no longer be the case in the future.
This genius financial guru, has managed to win approximately two million dollars by investing wisely, by taking risks, and by understanding how economy works. He has also sworn to help naive investors avoid one of the most common financial Internet Frauds, the pump-and-dump scheme. Nevertheless, even if you somehow find a miraculous solution for gaining easy money overnight (which is nearly impossible), is this really what you want?
What Exactly is the Pump-and-Dump Scheme?
Stock Scams are a common sight on the Internet, and many unwary souls fall prey to them. If you don’t want to be one of them, here are a few things you should know. First of all, pump-and-dump schemes are all about the image. The schemer will create a good-looking company website, with many interesting press releases related to financial health and smart investments, or they will talk about “the next best thing” in economy. Some may even go as far as posting fake messages in chat rooms, or testimonials.
The innocent investor will then purchase the stock in droves, creating high demand and pumping up the price. The next thing the scammer does is to sell his shares, and as a result the prices will plummet. In the end, the investor will lose a lot of money. In most cases, the best way to protect yourself (and obviously, your money), is by assuming that everything you find on tine Internet is lie, until you can prove through your logic and discoveries that they work.
Let’s Say you actually Manage to Get Rich Fast…
Nobody said that it is impossible to make a lot of money overnight, because it isn’t. However, don’t believe that people who are actually making tons of money have time to waste by sharing their findings with other. When it comes to the internet, it is better to always assume the worst. I will try to be optimistic here for a while, and imagine that you have actually managed to turn real profits in a matter of days or weeks. What do you do next? What can assure you that your scheme will always work, or that it has long-lasting effects? Things might not turn out the way you expected in the next month, and you will be left penniless, or invest in a business that is not nearly as profitable as the first one. Do you understand what I am trying to point out here?
While it is great to win a lot of money, all of a sudden, it might be more profitable to invest in a long-term business, and at least have the peace of mind that cash flow will be constant and reliable. Don’t believe the get-rich-schemes you find online unless you find proof, and focus on ethical methods of increasing your profits.