What's the worst piece of advice you guys have ever read about making money fast

by jamie2
25 replies
There's lots of false information and lots of chaff to go through before you get those golden nuggets that finally make you earn $$$$. I think it will help a lot to know the pitfalls to save people from making the same mistakes you did when you were starting out.
#advice #fast #guys #making #money #piece #read #worst
  • Profile picture of the author entrepreneurjay
    There's a ton of bad info out there I could write a book on it.

    On the other hand the best info I could give someone new would be to start an email list asap and do not jump around from one opportunity to the next.

    Stick to one business model and after you see consistent success as in continuous money in your PayPal or bank account then you can branch out a bit.
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  • Profile picture of the author aarthielumalai
    The worst advice I ever got was to reduce my rates.

    I should have never listened to the person who insisted that selling my services for cheap is the only way to get a lot of sales.

    From what I've learned, you might get a lot of sales for cheap products/services, but at the end, the time and effort you put into it is just not worth it.

    So, decide what your information/time is worth to you, and price your products/services accordingly. There's always going to be someone who'll buy from you, no matter the price.
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    • Profile picture of the author Ron C Farrow
      Ha ha - good question

      The best (worst) was a "Guru" who suggested I email all my Linkedin contacts. Spam them in fact. I was so dumb back then I even tried! My autoresponder was suspended for good, no surprise there.

      If you are going to teach someone an Online Marketing method it MUST be something you are doing yourself, not did do, or have done in the past but now, today. This market place moves on so fast that although some things remain evergreen mostly they change, constantly.
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    • Profile picture of the author slammer81
      Originally Posted by aarthielumalai View Post

      The worst advice I ever got was to reduce my rates.

      I should have never listened to the person who insisted that selling my services for cheap is the only way to get a lot of sales.

      From what I've learned, you might get a lot of sales for cheap products/services, but at the end, the time and effort you put into it is just not worth it.

      So, decide what your information/time is worth to you, and price your products/services accordingly. There's always going to be someone who'll buy from you, no matter the price.
      In response to this, the worst advice I ever received was to UP my fee!

      It worked well as a "no brainer" offer under $10... putting it up to $29 was a killer. Got about 75% drop in conversions.

      Lesson learnt there - I knew my offer well!
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      • Profile picture of the author PLR Basket
        Originally Posted by slammer81 View Post

        In response to this, the worst advice I ever received was to UP my fee!

        It worked well as a "no brainer" offer under $10... putting it up to $29 was a killer. Got about 75% drop in conversions.

        Lesson learnt there - I knew my offer well!
        Don't you think a 300% price increase was a little bit extreme???
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    • Profile picture of the author PLR Basket
      Originally Posted by aarthielumalai View Post

      The worst advice I ever got was to reduce my rates.

      I should have never listened to the person who insisted that selling my services for cheap is the only way to get a lot of sales.

      From what I've learned, you might get a lot of sales for cheap products/services, but at the end, the time and effort you put into it is just not worth it.

      So, decide what your information/time is worth to you, and price your products/services accordingly. There's always going to be someone who'll buy from you, no matter the price.
      That is great advice. Some people would rather pay more for quality. I've actually had clients ask me if I was sure my content would be good since I was charging so low, and I was charging 3 cents per word at the time...

      I've seen people advertise their services for as low as 2.50$ per words on this forum. I would actually never pay that low for content, and I'm sure I'm not the only one.
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    • Profile picture of the author Rory Singh
      Originally Posted by aarthielumalai View Post

      The worst advice I ever got was to reduce my rates. There's always going to be someone who'll buy from you, no matter the price.
      She's right. Never sell yourself 'short'.

      Sure you should be delivering top notch quality but in the end, you will get what ever you are willing to 'settle' for.
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  • Profile picture of the author garethjehu1
    I could write a list.

    There is so much bad advice because the majority of people just seem to be self promoting. The worst advice I have ever received was to send all traffic direct to an affiliate offer rather then get their optin first. The theory was that a new prospect wouldn't do that extra step. It didn't work obviously.

    Best advice for anyone starting out would be to build a list AND look after your list. Provide value and don't send them rubbish.
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    • Profile picture of the author M Thompson
      Originally Posted by garethjehu1 View Post

      I could write a list.

      There is so much bad advice because the majority of people just seem to be self promoting. The worst advice I have ever received was to send all traffic direct to an affiliate offer rather then get their optin first. The theory was that a new prospect wouldn't do that extra step. It didn't work obviously.

      Best advice for anyone starting out would be to build a list AND look after your list. Provide value and don't send them rubbish.

      Marketers Self promoting .. Never!

      Actually if you are a marketer and you don't self promote then you are doing yourself a disservice because no one will do it for you.

      Worst piece of advice.. Do ad swaps ...

      Build your list and make it your own become a leader of a tribe..
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  • Profile picture of the author digi71
    The worst advice?

    Avoid competitive niches and follow your passion if you want to make money.


    NEVER follow your passion unless it happens to be where the money is and you are wanting to earn anything worthwhile.
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  • Profile picture of the author discrat
    Originally Posted by jamie2 View Post

    There's lots of false information and lots of chaff to go through before you get those golden nuggets that finally make you earn $$$$. I think it will help a lot to know the pitfalls to save people from making the same mistakes you did when you were starting out.
    ALL it takes is Action.

    I hear this a lot. But what they fail to also address is to have a effective Plan to Act upon
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  • Profile picture of the author talfighel
    The worst advice I ever got was in my first 5 years online of failing. I was told that I should work really hard to get my website to rank very high on Google.

    I wasn't aware that I had to spend money to make money. That is what my mentor taught me after 5 years of failing online.

    I think that this is one of the main reasons people fail online these days. They only focus on getting their website on page 1 of Google and try to do this for months and sometimes, YEARS.
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  • Profile picture of the author Winning34
    I'd say most answers to that question are going to be bad because the question itself is bad. It's the word "fast" that is the problem.

    When people are in too much of a rush to make $$, then they'll often take shortcuts, skimp on quality and not concentrate on giving value to their customers. They might make $$ in the short-term, but they won't be creating anything sustainable.
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  • Profile picture of the author DoubleOhDave
    I second the spamming post above - "information" like how to contact several hundred people at once.

    That stuff used to be touted around here incessantly. Maybe it still is - I rarely visit the WSO section any more and when I do I find I learn more from networking on social media or reading helpful blogs than I do by paying out cash to someone who decided to create a "product" to make money online and sell it here.
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  • Profile picture of the author IdeasThatExcel
    The worst? "Buy my 99 cents WSO and follow it and you will make $10,000 a day in your sleep"... or something along those lines.
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    • Profile picture of the author agmccall
      All the guru wanna-be's here that insist people "Build a list......NOW" even though they have no idea at all about email marketing. Build a list and send them affiliate links. Worst advice ever

      al
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  • Profile picture of the author ChrisBa
    The idea of making money fast opposed to building a long term business is one of the bad pieces of advice I've heard (anything get rich quick)
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    • Profile picture of the author curiozities
      Bet on the third horse in the fifth race. Lost my shirt that way.

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  • Profile picture of the author adammichael
    Worst advice was probably that the big-money niches were too diluted, so find something really obscure and niche down really far... At that point, your sales are just a trickle.
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  • Profile picture of the author badassmarketer
    I've never read this but I sure see a lot of people doing this on Facebook. This is specifically true for live music events. They tag all their friends, every day or every other day for the rest of their life with a flyer.

    They don't have a website, they don't create an email list, and they never provide any value to their following.

    Also people who go into Facebook Groups and just spam them. Facebook Groups are super effective if you position yourself as a leader that has tons of useful information, and give nuggets.
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  • Profile picture of the author ChrisNosal
    Banned
    Originally Posted by jamie2 View Post

    There's lots of false information and lots of chaff to go through before you get those golden nuggets that finally make you earn $$$$. I think it will help a lot to know the pitfalls to save people from making the same mistakes you did when you were starting out.
    The worst advice I ever got was to try and make money fast, because all I was thinking about was making money, rather than focusing on the bigger picture, and contributing things that are really going to make a difference in peoples lives.

    At the end of the day you good-looking your bank account say, yeah I made $1000 a day, but so did a lot of other people. I'm going to die and I've done nothing with my life. I haven't left my mark on the world, and ultimately I collected a lot of these pieces of paper, and had fun even, but I've got nothing to show for my life, because it's all going to disappear the moment I die.

    Where is if you create something that adds value when really contributes to the world, and pushes the human race forward, you're going to look back and be able to say you really left your mark on the world, and really made a difference.

    I wish I'd found that a lot earlier, because instead of focusing on money, and ending up in a place where I had a bunch of money but I was doing something I didn't really care about, I love the work I do, and I'm following my passion every single day, and getting to do work that changes the world, and that I love.
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  • Profile picture of the author sunoy14
    I listened to people advicing me to follow lots of people on twitter to get followers. I wasted one and a half year building my followers that way. They are useless followers
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  • Profile picture of the author bemyboss
    There are alot of bad information. Many beginners (I included) are having information overload and are not willing or scared to spend money to build a business. Best is to find a reliable mentor to learn from him rather than doing mentor or program shopping. For past four years, I went mentor and program shopping. I am still at the starting line where I was four years ago.
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  • Profile picture of the author kencalhn
    the entire concept of 'make money fast' is wrong on so many levels

    it's about Being of SERVICE and Value the right way over years, to a lot of people you've honestly earned the trust of
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