- Overnight millionaire!
- Strategies to get 100K Facebook Fans Today so you can Retire Tomorrow.
- Work from home for less than an hour a week, and Die Rich!
- Get thousands of customers with a click of a button and have them eating out of the palm of your hand.
- Attend the event that will teach you the alchemy to grow gold in your freezer.
- Pay only a small amount a month, and earn more than anyone you know.
The list goes on and on. These promises are abound all over the business world, and especially on the internet. So how do you spot these Ponzis and too-good-to-be-true opportunities and separate them from the real ones?
To determine if something is really an opportunity or potential venture and not just an #entrepreneurfail, it must meet most of the following criteria:
- Involve hard work – if the plan involves no effort from your side, it’s a red flag.
- Be long term – if the opportunity is a one-time, one-person quick fix, run far, far away.
- Be from a reliable source – if the social proof of a project looks fake, it probably is.
- Must NOT be too-good-to-be-true – if your gut is telling you to steer clear, listen!
On the flip side, when you are creating your own product or service, and marketing it to your target customer, make sure your promises are tried and true. The litmus test is easy – if you share it with 5 people who think what you are offering seems unreal, then you need to show some proof.
So have you fallen into any of the traps out there? How did you figure out if an opportunity or a product was really worth your while? Let us know in the comments.
Please note no animals were harmed in the creation of this comic.
This was originally created by Kriti Vichare for #entrepreneurfail: Startup Success.