MMM Ponzi Scheme (Dangers & Benefits)

What is MMM

[According to wikipedia],The meaning of mmm – МММ was a Russian company that perpetrated one of the world’s largest Ponzi schemes of all time, in the 1990s.

MMM was established in 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken

from the first letters of the three founders’ surnames.

Initially, the company imported computers and office equipment. In January 1992, tax police accused MMM of tax evasion, leading to the collapse of MMM-bank, andcausing the company to have difficulty obtaining financing to support its operations. Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. Later, MMM-Invest was created for the purpose of collecting vouchers during privatisation. This effort was similarly unsuccessful.

MMM created its successful Ponzi scheme in 1994. The company started attracting money from private investors, promising annual returns of up to one thousand percent. It is unclear whether a Ponzi scheme was Mavrodi’s initial intention, inasmuch as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.

MMM grew rapidly. In February 1994, the company reported dividends of 1,000%, and started an aggressive TV ad campaign. Since the shares were not quoted on any stock exchange and the company itself determined the share price, it maintained a steady price growth of thousands of percent annually, leading the public to believe its shares were a safe and profitable investment

Mavrodi was found and arrested in 2003. While in custody, Mavrodi was given until January 31, 2006 to read the documents in his fraud case against him (The criminal case consisted of 650 volumes, each 250-270 pages long). At the end of April 2007, Mavrodi was convicted of fraud, and given a sentence of four and a half years. Since he had already spent over four years in custody, he was released less than a month later, on May 22, 2007. He later went on to creating yet another pyramid scheme called MMM-2011.

The MMM scandal led to increased regulation of the Russian stock market, but the legacy of the fraud led many to become extremely suspicious of any joint stock companies. In 2015 MMM began operating in South Africa with the same business model as MMM-2011, claiming a “30% per month” return through a “social financial network”.

The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank. In response to mounting criticism and official investigations by state authorities in 2016 supporters of the South African MMM scheme staged a protest march in Johannesburg.

In 2016, MMM launched a website targeting the Nigerian audience.

In January 2016 the Chinese government banned MMM united on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered).

[According to MMM Nigeria, www.nigeria-mmm.net] MMM is not a bank, MMM does not collect your money, MMM is not an online business, HYIP, investment

or MLM program. MMM is a community where people help each other. MMM gives you a technical platform which helps millions of participants worldwide to connect those who NEED help to those who are ready to PROVIDE help, for FREE. All transferred funds to another participant are your help given by your own good will to another one, absolutely gratis.

How does MMM Works?

When a participant provides help(donate), he/she directly send it to another participants account. And when you get help(receive donations), it will go directly to your account. There is no man and/or in middle account, where all the money flows to (and where it can be easily stolen from). All the money(donations) are distributed to all the participants in the community.

MMM office will only provide a technical basic program, which helps millions of participants worldwide to find those who NEED help and those who are ready to PROVIDE help for FREE. The System completely belongs to people. Without fools. It is a real mutual aid fund, where ordinary people help each other.

Participants transfer their donations through BITCOINS. It is a digital currency that has it’s own rates and can be transferred easily and quickly without hassles all over the world. To convert Bitcoins into cash, you just need to connect your bank account and transfer the Bitcoins in it.

The Pro’s And Con’s Of MMM Global Community

The Advantages of MMM Global Community


MMM Global Community is Free to join. There is nothing like paid or premium account. Becoming a member of MMM community is definitely free for everybody interested.

The mmm community is open to EVERYONE. For the rich, poor, young and adult.

A participant can get up to 100% more from his/her donations

You can also get a registration, referral and guide bonus to increase your money

The donations are delivered directly to the participants in the community, so there’s no reason and it’s impossible for MMM to Scam you.

The System of MMM will make it sure that all the donations of the participants are confirmed. It means that receipts of your donations will

be displayed in your account’s dashboard when you donate and same things happen when you received the donations from the other participants.

The Disadvantages or Dangers of MMM Global Community


No guarantee in mmm community

Too much risk is involved in this mmm program. So you have to be prepared because you will be sending some amount of money as donation directly to someone else account. Which you must do within 48 hours.

You can get merge with someone requesting for donation immediately if only you register with a reasonable amount of money.

Your account will be deactivated if you fail to send a certain amount of money to your matched mmm member within 48 hours

This is an online scheme. Anything can happen to their website anytime which will slow down or pause the whole thing. It can be hacked or start having issues that can render the website un-accessible.

Verdict


If you happen to be the type that can take a risk and also ready to double your money, you can give it a try. but if otherwise, I advise you against it.

MMM Ponzi Scheme (Dangers & Benefits)

How to Start a Profitable Online Business (Chapter 2: Computer Essentials)

Social Media, Blog, Bulk Upload. Database Integration, DSL, Email Campaign, Search Engine Optimization, URL Redirection, Gateway Pages, Hosting Company.

Huh?


Most people are familiar enough with their computers to use them effectively. Play some games, write a few letters, surf the ‘Net, send and receive email, maybe do the household accounting. Then there are the famous (infamous?) stories about those who will use their CD tray as a coffee cup holder, not knowing any better.

It really does not matter what your experience level is. If you’re an average computer user, you may suddenly get lost in all the buzzwords and jargon that gets thrown at you when you consider opening an Internet store.

THIS IS WHY most people will give up trying to run their Internet business themselves, and will turn the whole thing over to one of the scam artists we talked about in Chapter One.

DON’T DO IT! Don’t give up. It’s not that hard. There are two basic LEGITIMATE ways you can build an Internet store of your own, and they’re not that hard. We’ll get into that in detail later, but right now, let’s talk about your computer, and what you should have in order to be able to work with your new store.

If you’ve had your computer for a few years, chances are you are using the Windows XP Operating System. If your computer is relatively new, or you’ve upgraded recently, you could be using, Windows 7,8 or 10 .

It really doesn’t matter which one you use. Windows is an Operating System; kind of a background, basic structure that allows you to use other programs. All Windows really does is provide a “platform” from which you “launch” other computer programs that you actually use. For example, you might want to write a letter and print it out. You’ll probably use Microsoft Word for this. Windows itself simply launches this program for you, and allows it to co-exist with other programs you might have active at the same time.

With this in mind, there are two basic ways to start your business on the Internet.

1.) Method One: Use a LEGITIMATE Internet Store solution. (DO NOT confuse this with the scam artists!) There are only a few of really good Internet Store solutions out there. With an Internet Store solution:

· You have less control over the look and operation of your site, BUT:

· You have help from the solution provider to build and operate your store

2.) Method Two: Use a LEGITIMATE Internet ECommerce Hosting Provider: Build the site with a LEGITIMATE ECommerce hosting provider, and drive your own traffic (customers) to it. We’ll talk about that in more detail as well. With this option, you:

· Have more control over your site’s look and structure

· Will probably spend a little more in order to have that control

· Will end up having to learn more about HTML programming

That’s the trade-off between the two options. An Internet Store solution often gives you fewer choices for making your store look and feel unique, but offers a great deal of help with the process. An ECommerce Hosting Provider store offers you more complete control of the store, but you have to spend more energy, and often money, creating the store and driving traffic (customers) to it.

If you want to use an Internet Store solution, you’ll need the following on your computer (the first three items probably came with your computer):

1. An Internet connection to your computer. You obviously already have this, or you would not be reading this page. :o)

2. An Internet Browser. Again, something you already have, but you should have Internet Explorer version 8 or higher, mozilla or chrome browser.

3. A way to send and receive email, which I’m sure you already have if you’re on the Internet.

4. Image Software. You’ll want to play around with the product images you’re going to put on your site, and you probably will want to get creative and make yourself a logo or two for your store. This is fun and easy, with the right tool. I recommend Paint.net. You can download a free copy of this program HERE. (Click the download link on the right of the page)

That’s it. That’s all you really need on your computer to build and work with your Internet Store solution.

If you want to use an ECommerce Hosting Solution, there are a couple of additional things you’ll need on your computer:

1. An FTP Program. FTP Stands for File Transfer Protocol. You’ll use this occasionally to send files (images of your products, etc.) from your computer to the computer where your Internet Store will be located. I use FileZilla, and you can download a free trial version of it HERE.

2. Site-building software. I recommend WordPress. This is a program you use to actually create Internet pages for your store. It allows you to simply create your pages by clicking buttons and arranging pages. It’s very user friendly. What it’s actually doing behind the scenes is turning your point-and-click page designs into HTML. HTML is Hyper Text Markup Language. It’s the code that your Internet Browser actually reads from the Internet, to display, for example, the page you’re looking at right now. You can download a free copy of this program HERE.

No matter which way you go, you’ll find that when you work with a legitimate company, there will be plenty of tech support to help you along the way. It’s NOT all that hard, and YOU will be in the driver’s seat, instead of wondering what happened to your hard-earned money. :o)

How to Start a Profitable Online Business (Chapter 2: Computer Essentials)

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How to invest in Treasury Bills (T-Bills) in Nigeria

What is a treasury bill?

A Treasury bill (or T-Bill) is a short-term government debt security, which yields no interest. Rather, it is issued at a discount on the redemption price.

Basically, the Federal Government issues treasury bills at discounted prices for maturity periods between 91 and 364 days. At the end the selected maturity period, the government buys the bills back at full price. For example, let’s say you buy a 182-day ₦200,000 treasury bill at a discounted rate of ₦180,000. The Federal Government of Nigeria writes an IOU for ₦200,000 and agrees to pay back in 182 days. You don’t get any monthly interest payments, rather you make your money back when the bond is purchased back from you at full price. In this case the T-Bill pays 11% interest rate (₦20,000/₦180,000 = 11%) over the 182-day period.

You will not get any e-mail alerts of notifications until the end of your tenure, so don’t expect any – just be patient. You only get a debit notification when the money is taken out of your account, and a credit notification when the money is returned at the end of the tenure.

Where can I purchase T-Bills?


T-Bills are sold via commercial banks and official agents such as merchant banks, and sales are open to individuals and corporate investors.

Is there a minimum purchase amount for T-Bills?


It depends on the bank. Some banks offer a minimum of ₦50,000, while some offer a minimum of ₦500,000.

How long can I invest for?

There are 3 tenures available: 91 days, 182 days or 364 days.

How can I buy T-Bills?


First, you will need to complete an application form issued by your bank or an approved discount house such as Kakawa Discount House Ltd. You will need to submit your application early, as most banks are required to submit applications received by the Wednesday before the dates announced by CBN – which you can get on the CBN website or in the dailies. Alternatively, your bank might be able to provide you with notifications ahead of time.

When completing the application form, you will be requested for a discount rate – which is the percentage by which the face value of the bill is discounted by. Current rates in Nigeria are around the 12% – 14% mark. You can request for this rate to either be set by your bank, or specified by you (under the “stop rate” section of the application form). If you do however choose to specify a rate which is significantly higher than what the CBN is prepared to offer, your bid will fail.

Various banks will offer you various stop rates/discount rates, depending on how much you want to invest and how long you want to invest it for so it is a good idea to shop around and not go with the first offer you receive. Do your research and select a bank carefully as people have reported banks offering as low as a 2.4% discount rate. As at October 2015, unverified informal accounts suggest that Firstbank seems to have the best bid rate for a 91 day tenure at 9.5%.

How do I calculate the return on my investment on T-Bills?


It is very easy to calculate the returns on your investment, and how this is paid. If for example you purchase T-Bills worth ₦100,000 at a 10% discount rate, CBN only debits your account of ₦90,000. At the end of the maturity period, you are paid your face value sum of ₦100,000.

Can I sell my T-bills before it matures?


It is possible to sell your T-Bills before it maturity using the OTC market. Because this is governed by the forces of demand and supply, you might make a loss if you choose to sell them before their maturity date.

How secure are T-Bills?

As T-Bills are based full faith of the Federal Government of Nigeria, they are considered one of the most secure investments to make. They can also be used as collateral, and are accepted by all banks.

How to invest in Treasury Bills (T-Bills) in Nigeria

How to Start a Profitable Online Business (Chapter 1: Selling on the Internet)

More and more people are catching the fever. Dreams of a mansion in the hills, early retirement, or just being able to supplement their regular income. Everyone wants to sell on the Internet. Every economic indicator, independent report and government statistic points to the fact that Ecommerce is getting bigger and bigger every year.

This is a good thing for you and me. The huge growth in ECommerce is in part the result of small, home-based Internet businesses carving out our own chunk of the multi-billion dollar ECommerce pie. Ecommerce is riding a wave that won’t break. It’s getting bigger. There IS money to be made, and plenty to go around.

How, though, can you even start your own internet business when you may not even know how to get past the “Start” button on your computer? Even if you are an experienced computer user, most people don’t know what a Merchant Account is, or how to build an Internet storefront. Where’s the starting point? Where can you go and stand on a big black “X” on the ground and say, “This is the FIRST thing I need to do in order to start my online business”?

Be careful! There are a lot of companies out there who tell you they will help you set up your new online business. While some of them are legitimate, there are LOTS of scam artists as well, who are HOPING that you don’t know where to start. They will prey on you. They’ll tell you that you don’t have to know ANYTHING. They’ll say that all you have to do is send them a few hundred dollars (or even as little as thirty or forty dollars) and all will be magically revealed. Your new store will appear like a rabbit out of a hat, and they will handle everything, from the storefront to the bank accounts to the products you will sell.

THIS IS IMPORTANT: Any “Complete Internet Store Solution” that offers you both a web site AND products to sell should be AVOIDED AT ALL COSTS!

There ARE good Internet Store solutions out there. However, nearly all of the Internet Store solutions that offer you a web site and products to sell are trying to sell you a “rubber-stamp” Internet Site.

It’s like getting a thank-you letter from the President for supporting his political party during his election. We both know that the Big Guy isn’t going to sit down and type individual letters to hundreds of thousands of people. Some functionary throws a big list of names into a computer, and the computer prints out the same letter over and over again, each with a different name:

“Dear Mr. Sunday Kingsley, I would like to personally thank you for your support during my recent Election campaign…”

“Dear Mrs. Animasaun Ibikunle, I would like to personally thank you for your support during my recent Election campaign…”

“Dear Occupant, I would like to personally thank you for your support during my recent Election campaign…”

You get the idea, right?

THAT’s what a “rubber-stamp” Internet Store Solution gives you. You’ll end up with an Internet Store that looks EXACTLY

the same as everyone else’s who bought one. Same exact pages, looks, graphics, and all the same products. Only the NAMES on the stores are different.

Your so-called “Internet Store” will sit there and twiddle its thumbs, alongside thousands of other IDENTICAL internet sites, also

busily twiddling THEIR thumbs, all trying to sell exactly the same products. No one will ever even find them on the Internet;

much less BUY anything from them. You’ll end up a permanent resident of an Internet Ghost Town, and you’ll pay for the “privilege”.


(Philosophical question…if thousands of Internet Sites twiddle their thumbs, and no customers are there to see it, do they actually twiddle at all?) :o)

Why do they do it? Why do these scam artists go to all the trouble of setting this whole thing up? Because:

It looks GOOD to you. Everything in one place, for one fee. Internet Store, ready-made Products, Marketing Tips and Information, Promises to bring thousands of customers to your store. All in one place for one “setup fee”, and “reasonable” monthly payments. You hardly have to do ANYTHING!

It’s EASY for them. All they have to do is create ONE web site, and duplicate it thousands of times, one per customer. Then they simply take your money, plug in your name, and they’re done!

They don’t care if you EVER sell a single product. Most of them don’t stock those products anyway. They simply have a “drop shipping” arrangement with the REAL wholesale supplier. If you ever DO sell something, all they have to do is send an email to the REAL supplier, and have the product sent to your customer. (Of course, they make a profit on THAT, too).

They make it look as easy as possible to you, hoping you’ll send them your money. Then all they have to do is click a few buttons and hook you up with a useless Internet Store that SEEMS to work. While you’re trying to figure out (a) why your “store” doesn’t make any money, and (b) why you suddenly can’t get a hold of the magician who sold you your store and disappeared, said magician will be whistling a happy tune all the way to the bank. With YOUR money.

This goes for eBay Auctions too, folks. There are a huge number of people out there selling “Overnight Auction Riches” packages that just don’t work. You’ll see them online, in TV, etc.

Don’t let it happen! Here’s my number one rule concerning the Internet: If it seems too good to be true, it IS too good to be true!

Actually, that’s not even my rule. You know you’ve heard it before. It’s simple common sense. It’s probably been around since the first caveman stumbled over a sleeping bear and thought he had dinner all locked up!

If it seems too good to be true, it IS too good to be true. How quickly that simple common sense statement flies out the window when someone promises you money!

Be smart. You may only have one chance to take your future in your own hands. Don’t hand that one chance over to one of the thousands of scam artists who will lie to your face and leave you with nothing without the slightest twinge of conscience. Their sites look very professional, they sound like they know what they’re talking about, and they can’t wait to get their hands on your money and run.

I’ve literally seen thousands of people taken by these scams. I’ve only seen and talked to these people because after they get scammed, they keep at it and try again. They eventually end up at our web site, looking over this free information. I hate to think about the tens of thousands of people who have been scammed once, and have given up for good.

As I said, there are good Internet Store solutions out there, but there are not many of them. You need to be sure you work with a reputable company when setting up your Internet Store.

So, with that said, where do you start this whole process of selling on the Internet, and doing it the RIGHT way?

Probably the best place is a quick review of how retail sales works.

1. A factory produces a product. Most factories don’t want to get involved in SELLING products to individual Retail Stores. They’re too busy MAKING the products. So, they sell huge amounts of the product to a wholesale distributor, all at once.

2. The wholesale distributor adds a bit to the price of each product, and generally sells them in bulk to a retail store.

3. The retail store breaks open the cartons, adds to the price of each individual product (their markup) and sells the products to its customers.

Sounds pretty simple, doesn’t it? Well, it IS simple, when you’re the customer. All you have to do is walk into your local Dogs A’ Scratchin store, pick up a can of flea powder for your dog Baldy, pay at the register, and you’re on your way.

However, when YOU become the retailer, there are other things to think about. When you OWN the Dogs A’ Scratchin store, you have to pay rent for the building. You have to decide which products you’re going to fill your valuable shelf space with. You have to decide which newspapers, TV and radio stations you’re going to advertise with this month, to bring in new customers. You’ve got to order your products. Pay your distributors. You’ve got to replace damaged inventory, because Mrs. Tunji’s wiener-dog went charging down Aisle Four wearing that lampshade-thingy around his neck, and crashed into your brand new display of Kitty Perfume.

Selling on the Internet is no different. Your Home-based Internet Business is a living, breathing extension of you, and there are things to learn and things to consider when you build and run it. You need to create and run your business yourself. If you let some chuckle head tell you that all you have to do is mail in three cereal box tops and fifty dollars, and they’ll do it all for you, you might as well save the cereal. You’ll need to eat SOMETHING when you lose your money.

————

END OF CHAPTER ONE

————–

Chapter Two of How to Start a Profitable Online Business will be online tomorrow. Please pardon me. This is a new section that we are adding to the My Social Naija Community and we are working really hard to deliver all our many years of experience in internet businesses to you are dear readers.

To make sure you continue getting updates as we upload them on a daily basis, please subscribe to our news letter and make sure to add My Social Naija to your bookmarks and favourite sites section of your browser.

For training, information, requests of any kind please contact me on 08164832269 between the hours of 7am – 2am daily.

How to Start a Profitable Online Business (Chapter 1: Selling on the Internet)

My 10+ Proven Secret Method to Make Extra Money for Christmas

Are you interested in profiting from the Christmas frenzy? Do you need product ideas or business ideas to start during the Christmas season? Then I advice you read on as i explain some proven secret ways to make extra money for Christmas.

Christmas is one of the holidays that create huge business opportunities for smart investors and entrepreneurs who are ready to grab them while the season lasts. From greeting cards and gifts to wears, many products sell very well especially when December 25 is fast approaching.

As an entrepreneur, you can make money off of the Christmas seasons by exploiting some of the many business opportunities that come with it. So without wasting time, below are ten profitable business ideas that you can make cool money with when the next Christmas is near:

1. Design and sell Christmas cards


When Christmas is near, people buy and exchange Christmas greeting cards with their friends, relatives, and customers. This explains the reason why the demand for Christmas cards start booming wildly anytime from December 1st.

If you are a creative artist, you can design beautiful greeting cards and put them up for sale. You can design them either by hand or with a computer. Either ways, there’s a lot of money to be made. If you don’t have the required artistic creativity, you can buy greeting cards in wholesale quantities and sell them.

2. Sell goodies and sweets

Because almost everyone loves treats, you will be going in the right direction by making and selling sweet food products like cupcakes and cookies. If your treats are very good, you will get an amazing number of orders during Christmas. If you are not skilled enough to make these treats yourself, partner with someone who has the skills or buy from them in large quantities and sell to customers.

3. Pack and sell gift baskets

The good side of this business opportunity is that you don’t have to make the food to be placed in the baskets. Just visit a grocery or food store around you, buy various foods and fruits, and place them nicely in a basket. To make the baskets even more attractive, wrap them with beautiful Christmas-branded wrapping sheets. You can sell your gift baskets to office workers and other interested customers around you.

4. Sell Christmas souvenirs

Many people visit their home cities and towns to celebrate Christmas. Aside spending their money on food and fun activities, they also love to buy souvenir items that they can take back with them after the Christmas season. Examples of souvenir items that people like to buy include custom-branded Christmas-branded T-shirts, mugs, home decorations, and so on.

5. Sell gift items

People exchange gifts during Christmas, and this explains why reasonably priced items like shirts, fancy jewelry, and other exchange gift items sell very well during Christmas period. To record even more sales, try to sell cheap products. You can sell these items in offices and bazaars. And you can offer to wrap the items for an extra fee. Most buyers would gladly accept this offer because it would spare them the hassles of doing it themselves.

6. Sell children’s toys


Children’s toys also sell very well during the Christmas season. In fact, they are most abundant in the market during this period. This business is very easy to put up because children’s toys are very cheap, and they are very profitable. If you have the creativity and know-how, you can make the toys yourself and put them up for sale.

7. Render food-catering services

Starting a food-catering business is another smart way to make huge profits during the Christmas season. The demand for catering services boom during this period because many people are too busy to prepare the delicacies they want. So, would rather pay to have their preferred foods cooked and served for them during Christmas.

8. Sell gift-wraps


As is the case with other festive seasons, people exchange gifts with their friend, relatives, colleagues, and customers during Christmas. And as one would expect, these gifts are wrapped in beautiful, Christmas-branded gift wraps. So, you can make a lot of money off of the Christmas season by selling gift-wraps, which people use to package their gifts before presenting them to others.

9. Organize musical shows

If you are a musician, or you have a band or dance group, you can make money during the Christmas season by organizing musical concerts or featuring as guest artistes at concerts. Even if you are not an artiste yourself, you can collaborate with famous artistes and organize a musical concert aimed at celebrating Christmas.


10. Sell Christmas items online

If you are a blogger with a large online followership, you can make money during Christmas by selling various items as an affiliate and getting commissions from each sale.

11. Donate blood

There is a constantly high demand for full blood and blood components at hospitals and other advanced healthcare facilities. These are used for patients who have lost blood due to accidents, surgical operations, or diseases.

Depending on where you live in, and how high the demand for blood is in your locality, you can receive between $25 and $50 for each donation. The procedure takes less than 30 minutes. And you can go for donation once in every 60 days.

Aside the instant remuneration you will receive by donating blood, you will also have the fulfillment of saving other people’s lives.

12. Sell your unused items

If you look around your home—your closet, garage, bookshelf, and everywhere else—chances are that you will find loads of items you no longer need, but are still in very good conditions.

Guess what? There are many people out there who need those items badly and are ready to buy them from you at mind-blowing costs. You might think those items are worthless and would sell for crumbs, but that’s because you no longer need them. Those who need them value them much more than you do.

How can you find buyers for your used books, electronics, furniture, and other items? You can do so by simply registering a seller account on EBay, upload the pictures of your items, set your price, and you will start getting bids from interested buyers. Amazon is another online marketplace where you can sell your used items. Craigslist is another option you should consider.

13. Get a seasonal job


Check around your locality for businesses that are looking to hire seasonal workers. Many businesses hire seasonal workers at certain times of the year and for various purposes. However, you must bear in mind that some companies will take you through some training before you start working for them—even as a part-timer or seasonal worker.

Now aside the extra money that you will earn from seasonal jobs, you will get some employee discount off the products and services offered by the company. Some businesses give employees—full-time or seasonal—up to 50% off merchandise.

My 10+ Proven Secret Method to Make Extra Money for Christmas

How to Start a Profitable Online Business (Chapter 1: Selling on the Internet)

More and more people are catching the fever. Dreams of a mansion in the hills, early retirement, or just being able to supplement their regular income. Everyone wants to sell on the Internet. Every economic indicator, independent report and government statistic points to the fact that Ecommerce is getting bigger and bigger every year.

This is a good thing for you and me. The huge growth in ECommerce is in part the result of small, home-based Internet businesses carving out our own chunk of the multi-billion dollar ECommerce pie. Ecommerce is riding a wave that won’t break. It’s getting bigger. There IS money to be made, and plenty to go around.

How, though, can you even start your own internet business when you may not even know how to get past the “Start” button on your computer? Even if you are an experienced computer user, most people don’t know what a Merchant Account is, or how to build an Internet storefront. Where’s the starting point? Where can you go and stand on a big black “X” on the ground and say, “This is the FIRST thing I need to do in order to start my online business”?

Be careful! There are a lot of companies out there who tell you they will help you set up your new online business. While some of them are legitimate, there are LOTS of scam artists as well, who are HOPING that you don’t know where to start. They will prey on you. They’ll tell you that you don’t have to know ANYTHING. They’ll say that all you have to do is send them a few hundred dollars (or even as little as thirty or forty dollars) and all will be magically revealed. Your new store will appear like a rabbit out of a hat, and they will handle everything, from the storefront to the bank accounts to the products you will sell.

THIS IS IMPORTANT: Any “Complete Internet Store Solution” that offers you both a web site AND products to sell should be AVOIDED AT ALL COSTS!

There ARE good Internet Store solutions out there. However, nearly all of the Internet Store solutions that offer you a web site and products to sell are trying to sell you a “rubber-stamp” Internet Site.

It’s like getting a thank-you letter from the President for supporting his political party during his election. We both know that the Big Guy isn’t going to sit down and type individual letters to hundreds of thousands of people. Some functionary throws a big list of names into a computer, and the computer prints out the same letter over and over again, each with a different name:

“Dear Mr. Sunday Kingsley, I would like to personally thank you for your support during my recent Election campaign…”

“Dear Mrs. Animasaun Ibikunle, I would like to personally thank you for your support during my recent Election campaign…”

“Dear Occupant, I would like to personally thank you for your support during my recent Election campaign…”

You get the idea, right?

THAT’s what a “rubber-stamp” Internet Store Solution gives you. You’ll end up with an Internet Store that looks EXACTLY

the same as everyone else’s who bought one. Same exact pages, looks, graphics, and all the same products. Only the NAMES on the stores are different.

Your so-called “Internet Store” will sit there and twiddle its thumbs, alongside thousands of other IDENTICAL internet sites, also

busily twiddling THEIR thumbs, all trying to sell exactly the same products. No one will ever even find them on the Internet;

much less BUY anything from them. You’ll end up a permanent resident of an Internet Ghost Town, and you’ll pay for the “privilege”.


(Philosophical question…if thousands of Internet Sites twiddle their thumbs, and no customers are there to see it, do they actually twiddle at all?) :o)

Why do they do it? Why do these scam artists go to all the trouble of setting this whole thing up? Because:

It looks GOOD to you. Everything in one place, for one fee. Internet Store, ready-made Products, Marketing Tips and Information, Promises to bring thousands of customers to your store. All in one place for one “setup fee”, and “reasonable” monthly payments. You hardly have to do ANYTHING!

It’s EASY for them. All they have to do is create ONE web site, and duplicate it thousands of times, one per customer. Then they simply take your money, plug in your name, and they’re done!

They don’t care if you EVER sell a single product. Most of them don’t stock those products anyway. They simply have a “drop shipping” arrangement with the REAL wholesale supplier. If you ever DO sell something, all they have to do is send an email to the REAL supplier, and have the product sent to your customer. (Of course, they make a profit on THAT, too).

They make it look as easy as possible to you, hoping you’ll send them your money. Then all they have to do is click a few buttons and hook you up with a useless Internet Store that SEEMS to work. While you’re trying to figure out (a) why your “store” doesn’t make any money, and (b) why you suddenly can’t get a hold of the magician who sold you your store and disappeared, said magician will be whistling a happy tune all the way to the bank. With YOUR money.

This goes for eBay Auctions too, folks. There are a huge number of people out there selling “Overnight Auction Riches” packages that just don’t work. You’ll see them online, in TV, etc.

Don’t let it happen! Here’s my number one rule concerning the Internet: If it seems too good to be true, it IS too good to be true!

Actually, that’s not even my rule. You know you’ve heard it before. It’s simple common sense. It’s probably been around since the first caveman stumbled over a sleeping bear and thought he had dinner all locked up!

If it seems too good to be true, it IS too good to be true. How quickly that simple common sense statement flies out the window when someone promises you money!

Be smart. You may only have one chance to take your future in your own hands. Don’t hand that one chance over to one of the thousands of scam artists who will lie to your face and leave you with nothing without the slightest twinge of conscience. Their sites look very professional, they sound like they know what they’re talking about, and they can’t wait to get their hands on your money and run.

I’ve literally seen thousands of people taken by these scams. I’ve only seen and talked to these people because after they get scammed, they keep at it and try again. They eventually end up at our web site, looking over this free information. I hate to think about the tens of thousands of people who have been scammed once, and have given up for good.

As I said, there are good Internet Store solutions out there, but there are not many of them. You need to be sure you work with a reputable company when setting up your Internet Store.

So, with that said, where do you start this whole process of selling on the Internet, and doing it the RIGHT way?

Probably the best place is a quick review of how retail sales works.

1. A factory produces a product. Most factories don’t want to get involved in SELLING products to individual Retail Stores. They’re too busy MAKING the products. So, they sell huge amounts of the product to a wholesale distributor, all at once.

2. The wholesale distributor adds a bit to the price of each product, and generally sells them in bulk to a retail store.

3. The retail store breaks open the cartons, adds to the price of each individual product (their markup) and sells the products to its customers.

Sounds pretty simple, doesn’t it? Well, it IS simple, when you’re the customer. All you have to do is walk into your local Dogs A’ Scratchin store, pick up a can of flea powder for your dog Baldy, pay at the register, and you’re on your way.

However, when YOU become the retailer, there are other things to think about. When you OWN the Dogs A’ Scratchin store, you have to pay rent for the building. You have to decide which products you’re going to fill your valuable shelf space with. You have to decide which newspapers, TV and radio stations you’re going to advertise with this month, to bring in new customers. You’ve got to order your products. Pay your distributors. You’ve got to replace damaged inventory, because Mrs. Tunji’s wiener-dog went charging down Aisle Four wearing that lampshade-thingy around his neck, and crashed into your brand new display of Kitty Perfume.

Selling on the Internet is no different. Your Home-based Internet Business is a living, breathing extension of you, and there are things to learn and things to consider when you build and run it. You need to create and run your business yourself. If you let some chuckle head tell you that all you have to do is mail in three cereal box tops and fifty dollars, and they’ll do it all for you, you might as well save the cereal. You’ll need to eat SOMETHING when you lose your money.

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END OF CHAPTER ONE

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Chapter Two of How to Start a Profitable Online Business will be online tomorrow. Please pardon me. This is a new section that we are adding to the My Social Naija Community and we are working really hard to deliver all our many years of experience in internet businesses to you are dear readers.

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How to Start a Profitable Online Business (Chapter 1: Selling on the Internet)