Real money making ideas?

If you’re looking for real money making ideas you’re obviously not alone. There are millions of people everyday looking for real money making ideas who are convinced that amidst all of the nonsense, scams, and confusing messages they will be able to find ways to generate income that will work for them.

Many of you have asked me who you can trust and I’ve suggested to you that you need to learn to trust yourself and your own opinions. Now, I can tell you who I believe will give you better information on making money than others – and I’ll do that in this post.  But even that information I give is based on the general demographics of this site – but as corny as it might sound each one of you is unique and bring your own unique experience, talents, and personalities to the table.

If you only follow my advice or anyone elses advice for that matter you truly could end up selling yourself short. I’ve had several people that I’ve met through WorkAtHomeTruth.com who have done extremely well in ways I never would have thought of. I’ve met a person who went on to have an incredibly successful translation career. I’ve met a fellow who built over 400 niche websites within 18 months (and what he did NOT do is spend thousands of dollars on expensive “guru” products). I’ve met a person who started as a low level worker in the field of search engine optimization who went on to build his own company of 54 workers. But their success had nothing to do with ME or my advice…it had to do with their own ability to learn to trust themselves, strong motivation, the ability to network intelligently and as always, some amount of luck.

Learn What To Stay Away From As Well As What MIGHT Work For You

The other thing to keep in mind is that there are only ideas that can increase your odds of making money. There is NO guaranteed money making idea anywhere. If someone tells you otherwise, run away…fast. Scammers count on people believing in magic bullets and guaranteed wealth.

With that out of the way here are some ways for you to start developing your own ideas and filters about what you should definitely stay away from and what might work for your own background, talents, and personality when it comes to making money on your own.

Work At Home Scam Educational Resources:

  • Robbing You With A Keyboard Instead Of A Gun - This is a book by my friend Lynn Edgington who works with an Assigned Federal Agent from the Secret Service as well 3 U.S. Postal Inspectors and has helped to take down a large number of very big financial scams including ASD Cash Generator, Pedro Dispenza/Peter Roor & Heleen Potman Poor (responsible for Oxford Club and many other scams estimated to be potentially near the billion dollar mark),  InetGlobal/Adpacks (Steve Renner), Regenisis2x2,  and too many others for me to list here. I contributed the chapter on work at home scams.
  • Bizop.ca - especially The Bizop News & The Franchise News
  • BobBear.co.ukDirectory of fake websites involved in money laundering and reshipping fraud.
  • Business Opportunity Watch – This site is financed by you, instead of by biz opp ads and commission links. Does EXTENSIVE and unique analysis of business opportunities.
  • ConsumerAction.gov - Consumer Actional Handbook
  • FakeChecks.org - Created by the National Consumers Leage (NCL), the nation’s oldest nonprofit consumer organization, as a central source of information and advice about fake check scams.
  • FTC Bureau of Consumer Protection – The FTC’s Bureau of Consumer Protection works for the consumer to prevent  fraud, deception, and unfair business practices in the marketplace.
  • FraudWatchIternational.com – Specializes in phishing fraud prevention. Includes free alert service.
  • How To File Consumer Complaints (and ways to possibly get your money back)
  • OnguardOnline.gov – provides practical tips from the federal government and the technology industry to help you be on guard against Internet fraud, secure your computer, and protect your personal information.
  • PatrickPretty.com -  Covers Ponzi Schemes, pyramid schemes, securities fraud, investment fraud and Internet crime.
  • RealScam.com - Fraud fighting forum
  • SaltyDroid.info (R rated for language) – a controversial, useful, in-your-face site that can help you to think for yourself and draw your own conclusions.
  • WorkAtHomeTruth.com (the site you’re on) – especially the Not Recommended section here.

Resources for Money Making Ideas Online And At Home

Note, theses are my lists of places I like to check out. Hopefully over time you will develop your own lists based on your own abilities, talents, and personality.

Business oriented

These are listed these in alphabetical order.

Update 5/22/2011: Affilorama has been REMOVED from the list of recommended sites.

  • 48 Hour Report blog – Run by Jason Fladien. Various marketing and money making tips. Most recently known for his popular post Stay Away From These Products.
  • AbsoluteWrite.com – Writer’s site. Especially the writer’s forum here.
  • Arindam Chackraborty – Definitely follow his blog and sign up for his email list (which will notify you of new blog posts). He puts out some really great material for anyone interested in online business ideas and techniques.
  • Business.gov - Extremely heplful government site to help you understand licensing requirements, etc. for your home business. There is also a forum at http://community.business.gov.
  • Don and Jeremy – Internet Marketing Blog - Warning (R-rated language at times).  No holds barred – tell it like its product reviews and internet marketing training.
  • Earn1KAday Blog - Run by Dennis Becker. Various marketing and money making tips.
  • ExtraIncomeForAll.com (low cost membership site of a large number of money making ideas) – run by Shawn Swinigan. I’ve also contributed quite a few ideas to the site now.
  • FastCompany.com – reports on topics including innovation, digital media, technology, change management, leadership, design, and social responsibility.
  • FastCompany.com videos – Fast Company videos on YouTube
  • IveTriedThat.com - Run by Steve Wrzeszczynki. Also does some nice scam write-ups along with great experiments having other people try products out.
  • MakeUseOf.com - Cool websites, software and Internet tips.
  • Michael Brown Internet Marketing Blog - advice and thoughts on business and growth.
  • NicheWisdom.com - Run by Matt Levenhagen. Various marketing and money making tips.
  • ReadWriteWeb.com – ReadWriteWeb is a popular weblog that provides Web Technology news, reviews and analysis, covering web apps, web technology trends, social networking and social media.
  • RyanHealy.com – Blog about business growth strategies.
  • SBA.gov – The Small Business Association.
  • SEOBook.com – an enormous amount of free information about search engine optimization.
  • SparkPlugging.com – provides extensive information and resources for home based entrepreneurs and those who want to become home based entrepreneurs.
  • Stump Markus - Useful information and often complete money making ideas presented at no charge. Note: I’ve known Markus a long time and believe he often leaps to conclusions about fraud without connecting the dots properly – having said that, he took a stand against many online hucksters WAY before it was the “in thing” to do.
  • TechCrunch – a leading technology media property, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.
  • TED: Ideas worth spreading – TED (Technology, Entertainment, Design) makes the best talks and performances from TED and partners available to the world, for free.
  • Tiffany Dow’s blog - does outstanding product reviews. Note: her Work At Home Truths book came out well after WorkAtHomeTruth.com – but is just a coincidence.
  • White Hat Crew – with Antone Roundy. Extensive, free, helpful information about internet marketing.
  • Wired.com – coverage of current and future trends in technology, and how they are shaping business, entertainment, communications, science, politics, and culture
  • WorkAtHomeNoScams.com – run by Eddy Salomon. Various money making ideas, including freelance and job listings.

Freelance And Telecommuting (Home Job) Oriented

Note, it is extremely difficult to find a home job that is like a regular job. Most online positions are freelance positions where you are an independent contractor responsible for your own taxes and benefits.

You should also keep in mind that many low level (easy) jobs are often done over sees these days by people willing to work for as little as $2.00 per hour or even $2.00 per day sometimes. In other words, if you see a job listing claiming you can make a lot of money doing “easy work at home” don’t believe it.

That said, here is my list of places to look for Freelance & Telecommuting Positions. These places are places that are geared towards pretty much any type of work. If you are in a specific industry and are looking for a site to find freelance work you can ask in the comment section below.

These are listed in alphabetical order:

  • Best Of Fivver -  a blog which features gig reviews and actual work samples from users of the popular microjob site.
  • Elance.com – popular site where businesses go to find freelance workers of all kinds.
  • FlexJobs.com – has a trained staff of real people that scour thousands of online resources for jobs – such as invidual employer websites, industry blogs, reliabe public job boards, and online newspaper calssifieds for all of the most current postings that involve some level of telecommuting and online work. Their staff is trained to weed out scams, thus saving you time.
  • HomeJobStop.com - The HomeJobStop Job Bank is an active job board specializing in home jobs and freelance work listings.  Again, the site weeds out scams to save you time.
  • International Virtual Associations Association (IVAA) – The International Virtual Assistants Association (IVAA) is a nonprofit organization dedicated to the professional education and development of members of the virtual assistance profession.
  • IveTriedThat.com – offers a free, 45 paidguide that shows you where and how to find real work at home jobs and freelance work.
  • MysteryShop.org – The Mystery Shopping Providers Association. This is the most reliable place to get information about mystery shopping opportunities.
  • ODesk.com - another popular site where businesses go to find freelance workers with almost any background you can think of. It’s also a good place to get a “reality check” of how little some workers are willing to be paid for basic tasks which can show you why the sites that claim you can make big money doing “easy jobs” are lying to you.
  • RatRaceRebellion.com – Launched the pioneering virtual careers training company, StaffCentrix in 1999. They post free job leads and resources at the RatRaceRebellion.com site. Founder, Chris Durst appears regularly on CNN as an Internet Fraud and Safety Expert.
  • TelCoa.org – The Telework Coalition. Enables and supports the advancement of virtual, mobile, and distributed work through research, education, technology,and legislation.
  • WAHM.com – has a good forum where you can often get feedback from people about specific companies.
  • WorkAtHomeTruth.com – there’s a telecommuting to to help you search for legitimate home jobs and freelance work at http://www.workathometruth.com/TelecommutingTool.php

The Fake News Phenomenon Continues…

Over the years I’ve tracked literally thousands of fake news sites and fake blogs. At one point it seemed like they were going to go away…but now it doesn’t seem like they ever will.

In fact most marketers using fake blogs seem to believe that placing the word “Advertorial” at the top of a page means that they can then do whatever the heck they want…including:

  • Including lots of fake comments in a comments section.
  • Claiming that their fake story was seen on ABC, CNBC, CNN and other major media outlets
  • Putting advertising sections WITHIN the advertorial (huh?)
  • Putting real news video footage within their fake news stories

Of course many of them just don’t use an advertorial disclaimer at all. Just like products such as Bloggers Payday one thing’s about 99% certain (OK maybe 100%)…you should more than likely AVOID any “business opportunity” that these fake news sites promote.

The following video shows how widespread and bizarre the fake news phenomenon continues to be:

The following graph from Compete.com shows the relative traffic levels of the fake news sites NewsDaily7.com, News-11-Today.com as compared to the Federal Trade Commission website, FTC.gov (Even though the fake news sites appear to be buying a lot of traffic – and probably some really cheap traffic).  Attorney Michael Webster who specializes in Misleading Advertising Law has suggested that, “suggested that anytime a scheme is more popular than the regulator who oversees it and hundreds if not thousands things like it: RUN AWAY. Don’t stop to think, just RUN AWAY.”  That might not always be true of course, but my guess is that MOST of the time it will be.

NewsDaily7.com, News-11-Today.com, & FTC.gov at Compete

NewsDaily7.com, News-11-Today.com, & FTC.gov at Compete

The following is a list of the sites covered in the video – these are just a handful of the total number of fake news sites being promoted right now:

  • www. 100khomejobs .com
  • www. 100konlinejobs .com
  • www. 24hourwallstreetnews .com
  • www. 3newsinsider .com
  • www. 37actionnews .com
  • www. 6newsonline .info
  • www. 7newsdaily7 .com
  • www. 9newstonight .com
  • www. a1reviews .net
  • www. aboutmoneymaker .com
  • www. americanjobsweekly .com
  • www. americanmorningfix .com
  • www. athomemoms .com
  • www. businessgazette .net
  • www. california-chronicle .com
  • www. canadafinancenews .com
  • www. career-digest-weekly .info
  • www. careernewsinsider .com
  • www. careertrendnews .com
  • www. cashmagnet .com
  • www. certifiedjobs .net
  • www. cflnewstribune .com
  • www. channel4reports .com
  • www. channel9investigates .com
  • www. chroniclenews .info
  • www. chicago-sentinel .com
  • www. citypressnews .com
  • www. cnbc20 .com
  • www. cnbc20 .org
  • www. consumer-reports-weekly .com
  • www. consumer-weekly .com
  • www. consumer-weekly .net
  • www. consumerhealthnewsonline .com
  • www. consumernews24 .com
  • www. consumers-daily .com
  • www. consumerstips-weekly .com
  • www. consumertipsonline .net
  • www. consumertribune .com
  • www. consumerworldnews .com
  • www. daily-gazette .com
  • www. daily-news-herald .com
  • www. daily-news-now .com
  • www. daily6news .com
  • www. dailynews17 .com
  • www. dailynews2 .com
  • www. dailynewsjournal .us
  • www. dailywebnews .net
  • www. dailyjobreports .com
  • www. dearborndailynews .com
  • www. detroit-sentinel .com
  • www. detroittribunenews .com
  • www. discountes .com
  • www. dropsomepuonds .com
  • www. entrepreneurobserver .com
  • www. eveningnewsjob .com
  • www. financedailyny .com
  • www. floristweekly .com
  • www. gazette-daily .com
  • www. gazettenews .net
  • www. globaljobnews .com
  • www. globalmarketingoffers .org
  • www. googlejobsearch .com
  • www. gulfcoastnews9 .com
  • www. helpofhealth .com
  • www. hobbynewsnow .com
  • www. home-job-report .com
  • www. home-job-report .net
  • www. home-job-report .org
  • www. homejob-review .com
  • www. homejoboptions .com
  • www. homejobsnews .com
  • www. honestjobsonline .com
  • www. houstonfinancenews .com
  • www. imvunewsreports .com
  • www. insidemoney .net
  • www. insiderbusinessnews .com
  • www. insidernewsteam .com
  • www. internetjobnews .net
  • www. interenetnews6 .com
  • www. ionline6news .com
  • www. jcg3news .com
  • www. jobsathomeplus .com
  • www. joblistingnews .com
  • www. jobnews6 .com
  • www. jobopeningsnews .com
  • www. jobpositionsearch .com
  • www. jobsalertweekly .com
  • www. jobsnewshome .com
  • www. jobtribunes .com
  • www. ktvu7news .com
  • www. la-businessnews .com
  • www. la-sentinel .com
  • www. lasentinelnews .com
  • www. legitcareeronline .com
  • www. legitimatehomejobs .org
  • www. localgazettenews .com
  • www. localjobnews .net
  • www. localnews22 .com
  • www. localnews45 .info
  • www. localnewstodayonline .com
  • www. madisonchronicle .com
  • www. manage-finances .com
  • www. manhattanbusinessreport .com
  • www. melbournemetronews .com
  • www. miamicitypost .com
  • www. money2news .com
  • www. mountainnewstoday .com
  • www. myworkathomestart .com
  • www. new-yorkcitynews .com
  • www. new7tv .info
  • www. news-11-today .com
  • www. news-11today .com
  • www. news-6-insider .com
  • www. news-channel9 .com
  • www. news-7daily .com
  • www. news10-today .com
  • www. news12report .com
  • www. news12reports .com
  • www. news13jobreports .com
  • www. news13jobstoday .com
  • www. news13report .com
  • www. news3health .com
  • www. news6alerts .com
  • www. news6online .info
  • www. news6reports .net
  • www. news7income .com
  • www. news7localreport .com
  • www. news7newyork .com
  • www. news7tribune .com
  • www. news8report .com
  • www. news9courier .com
  • www. news9network .com
  • www. news9now .net
  • www. news9online .org
  • www. news9tonight .com
  • www. newsdaily7 .com
  • www. newsdaily7 .net
  • www. newsforce7 .com
  • www. newsnetaustralia .com
  • www. newsreportdaily .com
  • www. newstodayat5 .com
  • www. newstoday28 .com
  • www. newstv6 .com
  • www. newyork-tribune .com
  • www. newyorktribunedaily .com
  • www. newyorkweeklynews .com
  • www. northwest-news .com
  • www. ny-sentinel .com
  • www. ny-weekly .com
  • www. nygazettejournal .com
  • www. nyguardian .com
  • www. nynewsdigest .com
  • www. omgnews .info
  • www. onlinecashbooster .com
  • www. onlinecashreviews .com
  • www. onlinejobnewsletter .com
  • www. onlinejobreport .com
  • www. onlinejobreports .com
  • www. onlinejobsnews .com
  • www. onlinemoneystash .com
  • www. onlinenews10 .com
  • www. onlinenews12 .com
  • www. onlinenews4 .com
  • www. onlinenews6 .com
  • www. onlinenews6 .net
  • www. onlinenews7 .com
  • www. onlinenewsat6 .com
  • www. onlinenewstribune .com
  • www. orlando-tribune .com
  • www. pacouriernews .com
  • www. princetonbusinessreview .net
  • www. readlatestnewsonline .com
  • www. readthetimesnews .com
  • www. reia9news .com
  • www. reviewstimes .com
  • www. riversidedailytribune .com
  • www. san-diego-today .com
  • www. sanjose-herald .com
  • www. sandiegobusinessobserver .com
  • www. sbscnews .com
  • www. search-engine-job .com
  • www. skilltrends .com
  • www. skilltrends .org
  • www. startworkfromhomejob .com
  • www. texasfinancenews .com
  • www. the-losangeles-gazette .com
  • www. theconsumerherald .com
  • www. theconsumerherald11 .net
  • www. theconsumertips .com
  • www. thedailyfinancialtimes .com
  • www. thedailywork .com
  • www. theentrepreneurweekly .com
  • www. tribune-gazzette .com
  • www. thehomebizcentral .info
  • www. thelosangelesjournal .com
  • www. thenewyorkdailynews .info
  • www. theposttribunenews .tv
  • www. thewebnewsdaily .com
  • www. todayseconomist .com
  • www. tonyscashkit .com
  • www. top3homebizreview .com
  • www. tylerneill .com
  • www. usa-sentinel .com
  • www. us-news-magazine .net
  • www. usadailyjobnews .com
  • www. usconsumerdigest .com
  • www. usdreamjobs .com
  • www. usfinancejournal .com
  • www. usafinancialreporting .com
  • www. usnews8 .com
  • www. wallstreetgazettenews .com
  • www. wallstreetnews9 .com
  • www. wallstreetnews9 .tv
  • www. washington-tribune-news .com
  • www. washingtonnewsdaily .com
  • www. washingtonpostdaily .com
  • www. web-newsdaily .com
  • www. webnewsdaily .org
  • www. weekly-news .org
  • www. weeklyconsumernewsletter .com
  • www. weeklynewsonline .com
  • www. workathomecareernews .com
  • www. workathomecareertrends .com
  • www. workathomejobnews .org
  • www. workathomejobnews6 .com
  • www. workathomeobserver .com
  • www. workathomereviewnews .com
  • www. workathomethemagazine .com
  • www. workfromhomenews6 .com
  • www. workfromhomenews9 .com
  • www. world13news .com
  • www. world3news .com
  • www. worldwidenewspost .biz
  • www. ws7news .com
  • www. ws8today .com

Residual income business opportunity myths debunked

For many people a residual income business opportunity seems like the holy grail of income streams. They believe that once they find that ONE magic residual income business opportunity that all of their money problems will be solved…forever.

But if you look at some of the popular passive income opportunities all may not be as rosy at it seems. Let’s take a look at a few:

1. Affiliate commissions on recurring membership sites

Generating affiliate commissions on recurring membership sites is often touted as the holy grail of affiliate income streams. But what almost NOBODY seems to consider is the average retention rate of those sites.

Personally, all other things being equal (especially conversion rates) I’d rather make a one-time commission of $50 on a product with a % refund rate than a recurring 50% commission of a $30/month membership site with an average retention rate of 3 months – especially if I am BUYING traffic. i.e…

  • ($50 x 100 units) x .95 = $4,750
  • ($15.00 x 100 units x 3 months) = $4,500

It’s business math 101, but it is strangely not talked about much.

2. The Multi Level Marketing (Network Marketing) home based business opportunity

Of course many network marketing (MLM) companies have touted themselves as the ultimate passive income home based business opportunity.  And time and time again that has been proven to NOT be true (note, I am NOT anti-MLM, but I AM against many of the ways network marketing companies are promoted as residual income business opportunities).

Why?

  • Lack of focus on retail sales – The most common problem is a huge lack of focus on retail sales. Without an emphasis on product sales any MLM organization will naturally implode from the bottom up. This is one of the reasons for what’s commonly known as “the 70 percent rule” which requires that distributors are not reordering until they have sold or personally used at least 70 percent of previously purchased products (see Jeffrey A. Babener’s article here on the 70 percent rule)
  • The focus on “leveraging time” by “leveraging the time of other people”. Conceptually this sounds great, but as anyone who has ever managed people knows managing people is HARD work. So what do you have typically in network marketing? You have a lot of people with little or no management experience attempting to manage people with little or no business experience. Sounds like a recipe for disaster, doesn’t it?
  • You do not truly own a network marketing business in the traditional sense of “owning a business”. While, obviously any business can fail or go out of business, there are two things unique to the network marketing residual income business opportunity – you have little or no control over how the entire company does AND most network marketing companies have distributor termination clauses (when’s the last time you heard of a business owner firing him or herself?)

3. Generating Passive Residual Income Through Real-Estate

One of the big sales techniques of the Real Estate seminars of the 70s and 80s would be for the presenter to ask the following 2 questions in a room full of people:

  1. “How many of you know a traditional business owner who lost their shirt in business”? (a lot of people would raise their hand)
  2. “How many of you know a real estate investor/owner who has lost their shirt”? (almost nobody would raise their hand)

Of course it’s possible that less people know real estate investors/owners than business owners. But even if that isn’t true, I think it’s fair to say that there have been many examples (especially recently) of people losing a lot of money in real estate.

And despite slick real-estate seminar “gurus” trying to convince you that finding and managing tenants isn’t a big deal…for most people it WILL be.

4. Earning Residual Income Through High Yield Investment Programs or HYIPs

As Lynndel Edgington of Eagle Research Associates pointed out in this discussion of the recent PTVPartner HYIP:

“THERE ARE HIGH YIELD INVESTMENTS, BUT THERE ARE NO HIGH YIELD INVESTMENT PROGRAMS THAT ARE LEGAL. Every one is a scam or Ponzi. It just depends on how it is set up that determines if it is a scam or Ponzi.

Real investments don’t use payment processors so they can stay below the radar of government agencies. That statement alone is proof this is a scam. No legal investment has to stay below the radar of any goernment agency, anywhere in the world. The moment you hear those words, alarm bells should be going off warning you this is a scam or Ponzi.”

5. Generating Residual Income Via Royalties

It seems to be the dream of many aspiring authors and musicians to get signed on with a big publisher and generate residual income from the sales of their books or music.

Best-selling author David Copeland explodes that myth in this great video presentation on how to publish a book.

6. Residual Income Business Opportunity Systems Based On Buying Traffic

There have been many affiliate marketing training programs that promise that the holy grail of residual income is to BUY traffic through Pay Per Click marketing, Pay Per View marketing, Banner Advertising or other types of media buys.

This was a favorite promise of many questionable PPC training products.

What almost ALL of them fail to mention are the following aspects of buying traffic:

  • Managing bids (this is why bid management software exists)
  • Managing campaign creation (this is why so many campaign creation tools exist)
  • Managing offers (this is why products like OpenX exist)
  • Managing email lists (remember an email list is a list of PEOPLE)
  • Building landing pages (this is why expensive automated landing page builders exist)
  • Analyzing conversion statistics (this is why tools like Amish Shah’s Magic Bullet, StatsJunky, etc. exist)

All of the tools mentioned above AUTOMATE tasks that take a lot of time. And why do those tools exist? Because generating residual income through Pay Per Click marketing and other means of buying traffic is NOT “hands-off”.

That’s not to say there isn’t a lot of money to be made by buying traffic. There is. But most people decide to take the plunge into buying traffic for all the wrong reasons and are surprised when they lose all their money or it isn’t as easy as they were led to believe.

7. Residual Income Opportunities Based On Search Engine Optimization

I think systems like Niche Blitzkrieg do get a bit closer to what some might consider passive income. However, there are still downsides to a system like Niche Blitzkrieg:

  • Unless you learn to outsource and automate you’re income is typically capped at a much lower level than systems that focus on buying traffic.
  • You have to be organized enough to monitor your site’s rankings and income and tweak the sites from time to time.
  • It can be fairly easy at times for someone to figure out what all your niche sites are and use that information to attack the same markets (this is surprisingly rarer than you might expect, but it is a real concern).

8. The Hard Truth About “The 4-Hour Work Week”

Tim Ferris’ popular book does drive home a lot of important and interesting points. But as many people have pointed out he seems to have the attitude of “it worked for me so it will work for you”. And when it comes to the skill of outsourcing and even automation this is definitely NOT true. There is a ton of money spent by both large and small companies to learn how to effectively outsource, so the idea that it is the holy grail of passive income seems patently absurd.