I want nothing more than that you all be successful the balance of the year. But I know for some of you that won’t happen because you are still doing the same old things that you did earlier this year and last year. You have to make a plan and don’t falter from it.
Why is that?
It is my firm belief that the over-riding reason for lack of success in this arena is that you may be using the wrong strategy.
Five or six years ago I started pursuing an income on the internet… little did I realize it would turn into a full time income. It was hard at first… so many ideas and not the knowledge to implement them. I work when I like, have much more free time and earn a similar amount of money most years, as when I had my own business and my own headache. (although as we all know, it can be a bumpy ride)!
Over those 6 years, the main thing I have learned is that you must stick to your winning strategy.
OK, so what strategy do I use? (Those of you who already have successful strategies can ignore this!)
My strategy has 3 simple aims:
1. To arrive at an ideal balance of programs.
2. To minimize my risk in each program.
3. Once in profit, to maximise the profit in each program.
1. An ideal balance of programs.
By this I mean, a spread of programs so that the majority of my funds (70% to 80%) are in the lower risk category of programs with monthly returns in the 5% to 30% range. These are programs that will hopefully run for a number of years and form my main income. I aim for $10K to $25K profit a month.
Finally I will have 10% to 20% of my funds in the high risk category of programs with monthly returns in the 50% plus range. These are the programs that probably will not be around for too long, but are opportunities to make a quick killing. Like the auto-surf and HYIP programs that abound, but one has to be very selective and timing is crucial in these. In such a volatile arena I have no definite profit aims, but I usually come out with some profit in each. The money used here would be your “play money”
2. Minimise the risk.
This is simple:
Firstly decide on the appropriate 'seed' money that you are going to fund the program. I usually go for a moderate amount of say $100 or $200. Sometimes, if it's at the start of a program and I am very confident of it paying out I will put 'seed' money that is much more than that. But this is rare.
Secondly, because that seed money is completely at risk I recover the 'seed' money as fast as I can, by making withdrawals whenever I can. This then removes any risk of losing money and can take a few days to a few months depending on the program yield and if I receive any referral bonuses as a result of sharing.
I am now in a 'can't lose' situation.
3. Maximise the profit.
This involves re-investing a % of any subsequent profit (usually 50% to 80%) and withdrawing the rest. It's important to keep withdrawing a % of your profits at every opportunity as, in the worst case, it may be your last opportunity.
The key point here, and it's one a lot of people forget: The money you see in the program's account is not yours, it's purely figures on a screen. The only way to guarantee it's yours is to safely withdraw it into your own bank or e-currency account. So many people keep compounding the figure on the screen, thinking it's theirs - big mistake, especially if the program folds overnight! If you haven’t got your seed money out.....don’t compound!!!
Now, I can hear some of you saying, this strategy is OK for you as you have plenty of capital to spread around'. That's very true, but I gradually built mine over the years, honing my methods into a winning strategy - you can do the same.
I know many of you continue to lose money in this arena, and I really want you to stop doing that.
Many aim straight for the high risk end of the market as they are in a hurry to get rich or just to get out of debt - they put all their available funds into the latest very high yield offering, compound their earnings and then complain that they were wiped out again when it inevitably stalls or fails. They then beg or borrow some more funds and repeat the exercise! This is pure gambling and usually ends in disaster.
The high risk area is best avoided, unless you have a good sense of timing and an iron-will, or you were born lucky! This is why I place just 10% to 20% of my funds in this area, to be used only when a good timing situation arises - but I don't always get it right!
I make most of my income out of the long term, low paying, reliable programs, but there are precious few of them around.
There are quite a few programs on the internet currently that fall into the low risk term category. And you can find them all just by looking at the returns.
Message Magic, is an interesting venture, with a matrix which goes out of it's way to pay the new members and those that have so far earned the least. It can certainly help the passive player initially, but over the long term one needs to share it with others to keep making profits. This is good to get leads via Skype.
In the trading area, Gold Nugget Invest runs an arbitrage pool generating about 6% a week and is set fair for the long term.
From time to time I feature one or two popular HYIPs, But as I said above, unless you can utilize a strategy to quickly recover your seed money, without gambling or greed getting the better of you, it is best to stay away completely from such programs.
The snag is that this is precisely the area that a lot of people are attracted to, because of the high yield, but the programs are usually set up deliberately to take the most money they can from the unwary! As soon as the admins profits tail off, they disappear!
There are lots of matrix and MLM programs out there, but unless you get in a very early position and/or you are a good recruiter these are often best avoided.
There are also some interesting private programs, but why talk about them. If they ever open up I will only mention them in my newsletter. So sign up It’s FREE!!!
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