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Pyramid scheme

| Author Money

From Wikipedia, the free encyclopedia

A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, without any product or service being delivered. Pyramid schemes are a form of fraud.[1]

Pyramid schemes are illegal in many countries including Albania, Denmark, Australia,[2]Brazil, Bulgaria, Canada, China,[3]Colombia,[4]France, Germany, Hungary, Iceland,[citation needed]Iran[5], Italy,[6]Japan,[7]Malaysia, Mexico, Nepal,[citation needed]The Netherlands,[8]New Zealand,[9]Norway[10], the Philippines,[11]Poland, Portugal, Romania,[12]South Africa,[13]Sri Lanka,[14]Switzerland, Taiwan, Thailand,[15] the United Kingdom, and the United States.[16]

These types of schemes have existed for at least a century some with variations to hide their true nature and there are people who hold that multilevel marketing, even if it is legal, is nothing more than a pyramid scheme.[17][18][19][20] There have even been charges by people like economist Thomas Sowell that the United States Social Security program itself is nothing more than a legalized pyramid scheme.[21]

  • 1 Concept and basic models
    • 1.1 The “Eight-Ball” model
    • 1.2 Matrix schemes
  • 2 Connection to multi-level marketing
  • 3 Notable recent cases
    • 3.1 Internet
    • 3.2 Others
  • 4 See also
  • 5 References
  • 6 External links

[edit] Concept and basic models

A successful pyramid scheme combines a fake yet seemingly credible business with a simple-to-understand yet sophisticated-sounding money-making formula which is used for profit. The essential idea is that the mark, Mr. X, makes only one payment. To start earning, Mr. X has to recruit others like him who will also make one payment each. Mr. X gets paid out of receipts from those new recruits. They then go on to recruit others. As each new recruit makes a payment, Mr. X gets a cut. He is thus promised exponential benefits as the “business” expands.

Such “businesses” seldom involve sales of real products or services to which a monetary value might be easily attached. However, sometimes the “payment” itself may be a non-cash valuable. To enhance credibility, most such scams are well equipped with fake referrals, testimonials, and information. The flaw is that there is no end benefit. The money simply travels up the chain. Only the originator (sometimes called the “pharaoh”) and a very few at the top levels of the pyramid make significant amounts of money. The amounts dwindle steeply down the pyramid slopes. Individuals at the bottom of the pyramid (those who subscribed to the plan, but were not able to recruit any followers themselves) end up with a deficit.

[edit] The “Eight-Ball” model

Many pyramids are more sophisticated than the simple model. These recognize that recruiting a large number of others into a scheme can be difficult so a seemingly simpler model is used. In this model each person must recruit two others, but the ease of achieving this is offset because the depth required to recoup any money also increases. The scheme requires a person to recruit two others, who must each recruit two others, who must each recruit two others.

Prior instances of this scheme have been called the “Airplane Game” and the four tiers labelled as “captain,” “co-pilot,” “crew,” and “passenger” to denote a person’s level. Another instance was called the “Original Dinner Party” which labelled the tiers as “dessert,” “main course,” “side salad,” and “appetizer.” A person on the “dessert” course is the one at the top of the tree. Another variant, “Treasure Traders,” variously used gemology terms such as “polishers,” “stone cutters,” etc. or gems like “rubies,” “sapphires,” “diamonds,” etc.

Such schemes may try to downplay their pyramid nature by referring to themselves as “gifting circles” with money being “gifted.” Popular schemes such as the “Women Empowering Women”[22] do exactly this.

Whichever euphemism is used, there are 15 total people in four tiers (1 + 2 + 4 + 8) in the scheme – with the Airplane Game as the example, the person at the top of this tree is the “captain,” the two below are “co-pilots,” the four below are “crew,” and the bottom eight joiners are the “passengers.”

The eight passengers must each pay (or “gift”) a sum (e.g. $1000) to join the scheme. This sum (e.g. $8000) goes to the captain who leaves, with everyone remaining moving up one tier. There are now two new captains so the group splits in two with each group requiring eight new passengers. A person who joins the scheme as a passenger will not see a return until they advance through the crew and co-pilot tiers and exit the scheme as a captain. This requires that 8 others have been persuaded to join underneath them.

Therefore, the bottom 3 tiers of the pyramid lose their money if the scheme collapses. Consider a pyramid consisting of tiers with 1, 2, 4, 8, 16, 32, and 64 members. The highlighted section corresponds to the previous diagram.

If a person is using this model as a scam, the confidence trickster would make the lion’s share of the money. They would do this by filling in the first 3 tiers (with 1, 2, and 4 people) with phoney names, ensuring they get the first 7 payouts, at 8 times the buy-in sum, without paying a single penny themselves. So if the buy-in were $1000, they would receive $8,000, paid for by the first 8 investors. They would continue to buy in underneath the real investors, and promote and prolong the scheme for as long as possible in order to allow them to skim even more from it before the collapse.

Other cons may also be effective. For example, it is fathomable but not cited or reported anywhere that rather than using false names, a group of seven people may agree to form the top three layers of a pyramid without investing any money. They then work to recruit eight paying passengers, and pretend to follow the pyramid payout rules, but in reality split any money received. Ironically, though they are being conned, the eight paying passengers are not really getting anything less for their money than if they were buying into a “legitimate” Eight-Ball scheme which had split off from a parent. They truly are now in a valid eight-ball, and have the same opportunity to earn a windfall if they can successfully recruit enough new members and reach captain.

It is clear by the above description that the Eight-Ball model is, in fact, not a pyramid scheme. As stated in this section, there is no one at the top. Rather, the “captain” leaves and is able to re-enter as a “passenger” if he or she decides to.

[edit] Matrix schemes

Matrix schemes use the same fraudulent non-sustainable system as a pyramid; here, the participants pay to join a waiting list for a desirable product which only a fraction of them can ever receive. Since matrix schemes follow the same laws of geometric progression as pyramids, they are subsequently as doomed to collapse. Such schemes operate as a queue, where the person at head of the queue receives an item such as a television, games console, digital camcorder, etc. when a certain number of new people join the end of the queue. For example ten joiners may be required for the person at the front to receive their item and leave the queue. Each joiner is required to buy an expensive but potentially worthless item, such as an e-book, for their position in the queue. The scheme organizer profits because the income from joiners far exceeds the cost of sending out the item to the person at the front. Organizers can further profit by starting a scheme with a queue with shill names that must be cleared out before genuine people get to the front. The scheme collapses when no more people are willing to join the queue. Schemes may not reveal, or may attempt to exaggerate, a prospective joiner’s queue position which essentially means the scheme is a lottery. Some countries have ruled that matrix schemes are illegal on that basis.

[edit] Connection to multi-level marketing

The network marketing or multi-level marketing business has become associated with pyramid schemes as “Some schemes may purport to sell a product, but they often simply use the product to hide their pyramid structure.” [23] and the fact while some people call MLMs in general “pyramid selling”[24][25][26][27][28] others use the term to denote an illegal pyramid scheme masquerading as an MLM.[29]

The FTC warns “Not all multilevel marketing plans are legitimate. Some are pyramid schemes. It’s best not to get involved in plans where the money you make is based primarily on the number of distributors you recruit and your sales to them, rather than on your sales to people outside the plan who intend to use the products.” [30] and states that research is your best tool and gives eight steps to follow:

  1. Find — and study — the company’s track record.
  2. Learn about the product
  3. Ask questions
  4. Understand any restrictions
  5. Talk to other distributors (beware shills)
  6. Consider using a friend or adviser as a neutral sounding board or for a gut check.
  7. Take your time.
  8. Think about whether this plan suits your talents and goals[31]

Some believe MLMs in general are nothing more than legalized pyramid schemes[17][18][19][20] making the issue of a particular MLM being legal or not moot.

[edit] Notable recent cases [edit] Internet

In 2003, the United States Federal Trade Commission (FTC) disclosed what it called an internet-based “pyramid scam.” Its complaint states that customers would pay a registration fee to join a program that called itself an “internet mall” and purchase a package of goods and services such as internet mail, and that the company offered “significant commissions” to consumers who purchased and resold the package. The FTC alleged that the company’s program was instead and in reality a pyramid scheme that did not disclose that most consumers’ money would be kept, and that it gave affiliates material that allowed them to scam others.[32]

WinCapita was a scheme run by Finnish criminals that involved about â‚ 100 million.

[edit] Others

In early 2006 Ireland was hit by a wave of schemes with major activity in Cork and Galway. Participants were asked to contribute â‚ 20,000 each to a “Liberty” scheme which followed the classic eight-ball model. Payments were made in Munich, Germany to skirt Irish tax laws concerning gifts. Spin-off schemes called “Speedball” and “People in Profit” prompted a number of violent incidents and calls were made by politicians to tighten existing legislation.[33] Ireland has launched a website to better educate consumers to pyramid schemes and other scams.[34]

On November 12, 2008 riots broke out in the municipalities of Pasto, Tumaco, Popayan and Santander de Quilichao, Colombia after the collapse of several pyramid schemes. Thousands of victims had invested their money in pyramids that promised them extraordinary interest rates. The lack of regulation laws allowed those pyramids to grow excessively during several years. Finally, after the riots the Colombian government was forced to declare the country in economical emergency in order to seize and stop those schemes. Several of the pyramid’s managers were arrested, and these are being prosecuted for the crime of “illegal massive money reception.”[35]

November 2008: The Kyiv Post reported on November 26, 2008 that American citizen Robert Fletcher (Robert T. Fletcher III; aka “Rob”) was arrested by the SBU (Ukraine State Police) after being accused by Ukrainian investors of running a Ponzi scheme and associated pyramid scam netting $20 million in US dollars. (The Kiev Post also reports that some estimates are as high as $150M USD.)

[edit] See also

  • Advance-fee fraud
  • Autosurf
  • BurnLounge
  • Cobra Group (company)
  • High-yield investment program
  • Holiday Magic
  • Make Money Fast
  • Multi-level marketing
  • Ponzi scheme – A similar type of fraud, which involves making payment to a central originator, who pays returns to investors from their own money or money paid by subsequent investors, rather than from any actual profit earned.
  • Success University

[edit] References

  1. ^ Common Fraud Schemes: Pyramid Scheme Federal Bureao of Investigation
  2. ^ Trade Practices Amendment Act (No. 1) 2002 Trade Practices Act 1974 (Cth) ss 65AAA – 65AAE, 75AZO
  3. ^ Regulations for the Prohibition of Pyramid Sales
  4. ^ “Colombia scam: ‘I lost my money’”. BBC News. November 18, 2008. http://news.bbc.co.uk/1/hi/world/americas/7736124.stm. Retrieved April 12, 2010.
  5. ^ Key GoldQuest members arrested in Iran Airport
  6. ^ Legge 17 agosto 2005, n. 173 (in Italian)
  7. ^ ç„ é™é€ éŽ–è ›ã é˜ æ ã é– ã™ã‚‹æ •å ‹ (in Japanese)
  8. ^ Sentence by the High Council of the Netherlands regarding a pyramid scheme
  9. ^ Laws and Regulations Covering Multi-Level Marketing Programs and Pyramid Schemes Consumer Fraud Reporting.com
  10. ^ http://www.lovdata.no/all/tl-19950224-011-004.html#16
  11. ^ [1] Investors in Philippine Pyramid Scheme Lose over $2 Billion
  12. ^ Explozia piramidelor Ziarul Ziua, 12.07.2006
  13. ^ [2] Pyramid Schemes
  14. ^ Pyramid Schemes Illegal Under Section 83c of the Banking Act of Sri Lanka Department of Government Printing, Sri Lanka
  15. ^ à ‚à ‰à à à à à €à žà à ˆà à €à •à à à ƒà ™à à à šà šà ˜à à à à à ˆà ‚à à à •à à ‡à à à à ˜à à à à à ˆà žà à à à à à ” by Thai Direct Selling Association (in Thai)
  16. ^ Pyramid Schemes Debra A. Valentine, General Counsel, Federal Trade Commission
  17. ^ a b Carroll, Robert Todd (2003). The Skeptic’s Dictionary: A Collection of Strange Beliefs, Amusing Deceptions, and Dangerous Delusions. Wiley. pp. 235. ISBN 0471272426.
  18. ^ a b Coenen, Tracy (2009). Expert Fraud Investigation: A Step-by-Step Guide. Wiley. pp. 168. ISBN 0470387963.
  19. ^ a b Ogunjobi, Timi (2008). SCAMS – and how to protect yourself from them. Tee Publishing. pp. 13–19.
  20. ^ a b Salinger (Editor), Lawrence M. (2005). Encyclopedia of White-Collar & Corporate Crime. 2. Sage Publishing. pp. 880. ISBN 0761930043.
  21. ^ Sowell, Thomas (March 23, 2002). “Social Security: The Enron That Politicians Have In the Closet”. Capitalism Magazine (Bahamas 2000, Ltd. published). http://www.capitalismmagazine.com/index.php?news=1505. Retrieved April 10, 2010.
  22. ^ Pyramid selling scam that preys on women to be banned
  23. ^ Pyramid Schemes, May 13, 1998″ Federal Trade Commission
  24. ^ Edwards, Paul (1997). Franchising & licensing: two powerful ways to grow your business in any economy. Tarcher. pp. 356. ISBN 0874778980.
  25. ^ Clegg, Brian (2000). The invisible customer: strategies for successive customer service down the wire. Kogan Page. pp. 112. ISBN 074943144X.
  26. ^ Higgs, Philip; Smith, Jane (2007). Rethinking Our World. Juta Academic. pp. 30. ISBN 0702172553.
  27. ^ Kitching, Trevor (2001). Purchasing scams and how to avoid them. Gower Publishing Company. pp. 4. ISBN 0566082810.
  28. ^ Mendelsohn, Martin (2004). The guide to franchising. Cengage Learning Business Press. pp. 36. ISBN 1844801624.
  29. ^ Blythe, Jim (2004). Sales & Key Account Management. Cengage Learning Business Press. pp. 278. ISBN 1844800237.
  30. ^ Facts for Consumers; The Bottom Line About Multilevel Marketing Plans and Pyramid Schemes Federal Trade Commission
  31. ^ Facts for Consumers; The Bottom Line About Multilevel Marketing Plans and Pyramid Schemes Federal Trade Commission
  32. ^ FTC Charges Internet Mall Is a Pyramid Scam Federal Trade Commission
  33. ^ Gardaà hold firearm after pyramid scheme incident Irish Examiner
  34. ^ National Consumer Agency Ireland
  35. ^ Colombians riot over pyramid scam. Colombia: BBC news. Nov 13, 2008. http://news.bbc.co.uk/2/hi/americas/7726069.stm.
  • The Fraudsters – How Con Artists Steal Your Money Chapter 9, Pyramids of Sand (ISBN 978-1-903582-82-4) by Eamon Dillon, published September 2008 by Merlin Publishing, Ireland

[edit] External links

Scams and confidence tricks See also Fictional con artists and List of Ponzi schemes Terminology Notable scams and
confidence tricks Internet scams and
countermeasures Pyramid and
Ponzi schemes

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Can You Really Make Money Selling on Ebay?

| Author Money

Can You Really Make Money Selling on Ebay? by: Jason James

Most of us have heard about the phenomenon known as Ebay which promotes those online auctions that attract bidders from the world over for just about anything imaginable. This auction selling has reached a fever pitch and the Ebay business machine just keeps growing and growing. Selling on Ebay has went from an Internet novelty to becoming one of the fastest growing companies in the world with tens of millions of people visiting and using the site each year.

But can people like you and I really make any real money selling on Ebay? I mean, we only have so much stuff! At some point we are going to run out of things to place for auction selling and then we will have to buy new things to sell on Ebay. Selling our things on Ebay may be a great way to make a few bucks on things we don’t need any longer, but it can hardly be considered a real job that we could do day in and day out for money to pay bills with… right?

Ebay Trading Assistants

While there may be almost a billion people wired into the Internet, some are definitely more computer savvy than others. For these people and for countless others who plain just do not have the time to post their valuables on Ebay, this is precisely where Trading Assistants come in. Basically, Trading Assistants make money on Ebay by selling on Ebay things that do not belong to them.

By charging an agreed upon fee for all of the work involved in getting items posted in the online auctions held by Ebay, Trading Assistants help other people make money off of their old things while making some money for themselves in the process. It’s a win-win scenario! By becoming a Trading Assistant in the worldwide Ebay business machine, you are registered in a directory with over 50,000 others just like you that people can look up and contact when needing someone to help them sell their wares through electronic auction selling.

Trading Assistant Requirements

Never forget that selling on Ebay is a privilege and not a right. Likewise, not just anyone can become a Trading Assistant and make money on Ebay by selling other people’s things. There are some conditions that you have to meet in order to qualify for the Trading Assistant status.

First, you must have sold at least 4 items in the past thirty days. Second, your feedback rating must be 50 or higher with 97% of it being positive. Finally, your account must be in good standing before you can make money on Ebay by selling other people’s things.

Selling on Ebay has indeed become a worldwide phenomenon. While you can definitely make money on Ebay by selling your own possessions, becoming a Trading Assistant is a way to make online auctions your stock in trade. Why not make money from the privacy of your own home doing something you enjoy? Ebay offers assistance to help newcomers get started and to date there is no fee but the company does reserve the right to change that policy-so don’t delay! Start selling on Ebay and then sign up for the Trading Assistant program so you can make money on Ebay all year round by selling other people’s things!

Make Money on eBay Auctions

There have been many books written and systems developed for profiting on eBay auctions. We’ve weeded through and selected four of the best. While we think that $10,000/month profits is on the high end, some people do make this kind of cash and more on eBay. In any case, eBay represents a great entrepreneurial opportunity.

Best Suited

For Anyone who likes to spend time online and enjoys online auctions. Even those who haven’t tried eBay may find the thrill of selling for profit online irresistible.

Considerations Like other online job opportunities, making money in online auctions requires persistence and determination. Beyond that you’ll need to know the proven strategies and techniques that have made people a lot of money on eBay in order to make the most money possible. The e-Books reviewed below are the best we have found from the many written on eBay success.

more…>>>

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EBay Selling

| Author Money

Home recommend this page to a friend SCAMS 101 Click Here to Send an Email Your Privacy

eBay Selling Friends In Business & Scams 101

Learn How To Make REAL Money On eBay

by far the FASTEST and EASIEST way to start making money on the net (eBay does ALL the technical stuff for you!) (and they do it FREE, did I mention that?)

(If you’ve already read this page and the Internet Marketing Center’s page, all your questions have been answered, and you just came back to get the course…. you can click here to go straight to IMC, then scroll down about 9/10ths of the way to find the link to place your order.)

All I can say is…….. WHOA DOGGY!!

I’ve read several books and courses on How To Make Money Selling On eBay, and some have been quite good, but nothing — absolutely NOTHING!! — I have seen can compare to this.

This totally magnificent eBay Selling course was created by the famous Internet Marketing Center in conjunction with one Brandon Dupsky, a self-made eBay millionaire who started from the ground up and last year sold $8 million on eBay alone (not counting any offline business he’s built up as a direct result of his eBay success!).

I’ve been waiting for something like this for what seems like forever. The sad part is, I won’t be able to apply the heavy stuff right now because I have too many pots on the stove, but my head is spinning just thinking how it can help me with my sporadic eBay selling.

Life is always three years ahead of me. The most I’ve ever been able to manage is “eBay dabbling,” but that’s just me. I chronically paint myself into corners.

Let’s talk about you.

If you’re serious about creating a second income by selling on eBay, and you have the time to put into it, I honestly believe this can be your ticket to *REAL* success. (Let’s face it — eBay is unquestionably the *easiest* way for the average non-techie, non-webmaster type to make money on the internet, but if you don’t know what you’re doing, it can nickle-and-dime you right out the door.)

Like all IMC’s products, this one carries a full, no-questions-asked, money-back guarantee.

(It also carries a “We’ll refund your money and send you a check for $200″ guarantee, but please understand — that is ONLY if you APPLY THE METHODS in the specified time period and fail to meet certain goals, and you have to be able to DOCUMENT that you did that… so don’t do like some people do and buy it thinking you’ll set it on the shelf and make a tidy $200 profit; it doesn’t work that way.)

I confess, when Corey Rudl (IMC’s founder) died and they said the company would go on, I didn’t expect to see the same quality over time.

My oh my! I was *SO* wrong!!

This course…

The ‘Insider Secrets’ of an eBay Millionaire: How ANYONE can Start With Nothing and Explode Your Income With a Wildly Profitable eBay Business! …

is EVERY BIT as good as the Internet Marketing Course that made Corey famous — the obvious difference being the fact that making money on eBay doesn’t even require a website and it requires NO technical knowledge whatsoever!! eBay does *ALL* the technical stuff for you. (My eBay experience is fairly limited, but the one thing I can tell you is that they make it *incredibly* easy.)

Okay, let’s get down to brass tacks. Here’s a rundown of what comes in the package:

The main book is 237 pages that covers the following topics completely, THOROUGHLY, ***IN GREAT DETAIL*** (If you have Corey’s Internet Marketing Course, you know this is where it shines: at *NO* point does it leave you scratching your head and saying, “Hmmmmm, great idea; where do I start?”, which is where every other course I have seen drops the ball.)

  • Introduction, including why you can’t afford NOT to sell on eBay, introducing “our $8 Million ‘Secret Weapon,’” how BEST to use the course, and more (pgs 1-8)
  • The Top FOUR Ways to Make Money with eBay (pgs 9-17)
  • Start Profiting on eBay Today (pgs 18-26)
  • The Secret Art of Discovering What REALLY Sells on eBay… And How to Create Your Own “Hot Items” (pgs 27-50)
  • Know the Value of Your Product and Get TOP Dollar Every Time! (pgs 51-58)
  • How to Set Up Your Auctions for Maximum Sales (pgs 59-72)
  • How to Stand Out from Your Competition and Convince Bidders to Visit Your Auction — Your Title and Product Shot (pgs 73-95)
  • How to Create Product Descriptions that Hook More Bidders and Create a Bidding Frenzy! (pgs 96-121)
  • Establish Your Seller Credibility with a *Glowing* Feedback Rating (pgs 122-136)
  • Use Your “About Me” Page to Its Full Advantage (pgs 137-153)
  • Create a Community of Loyal Bidders — and Sell to Them for Life! (pgs 154-174)
  • Payment and Shipping Strategies That Will Increase Your Profits (pgs 175-189)
  • How to Drive Swarms of Traffic to Your eBay Listing (pgs 190-204)
  • Increase Your eBay Income Exponentially by Testing New Strategies and Tracking Your Results (pgs 205-215)
  • Automate Your eBay Tasks and Manage 10 Times More Auctions — With LESS Work! (pgs 216-224)
  • How to Use Other Auction Sites to Explode Your Online Income (pgs 225-234)
  • Conclusion (pgs 235-237)

In case you’re wondering, I’ve included page numbers to make a point:

Most “How To eBay” books and courses cover these topics in one way or another; some focus more heavily on certain points, but they at least mention all (or most) of the above… sometimes devoting a paragraph or even a couple of pages to the topic. This course includes *COMPREHENSIVE TRAINING* on EVERY SINGLE TOPIC.

One more thing before we move on:

A complaint I’ve heard often is that Corey’s Internet Marketing Course has lots of empty space on the pages.

NOT SO!

This book is written in a normal font (it appears to be Times Roman 12), and the pages are FULL. (Actually, truth be told, there isn’t any empty space in his Internet Marketing Course either — not since the 1998 edition — but the whine has lived on, and you know how I hate to nitpick.)

Moving right along…

Of course they’ve included a 22-page “Quick-Start Guide”:

  • How To Get Up and Running — and Making a Profit! — on eBay In the Next 24 Hours!

Also in the package are all of the following goodies:

  • How to Grow Your eBay Business from a One-Man Basement Operation into a Multi-Million-Dollar Goldmine! (Audio CD plus a 27-page “Audio CD Companion Guide”)
  • The Insider Secrets of a “Regular Guy” Who Made $8 Million on eBay Last Year! (Audio CD plus a 44-page “Audio CD Companion Guide”)
  • The Insider’s Guide to Sourcing HUGE Volumes of In-Demand Products — for CHEAP! (Audio CD plus a 25-page “Audio CD Companion Guide”)
  • How to Create a Bidding Frenzy and Literally Explode Your eBay Sales! (Audio CD plus a 38-page “Audio CD Companion Guide”)
  • How to QUADRUPLE Your Profit Margins on eBay — Instantly! (a Special Report on CD-ROM)
  • Get an Edge on Your Competitors by Creating Your Personalized Storefront on eBay — Filled with YOUR Products Only! (CD-ROM)
  • Earn a *Massive* Income Selling Other People’s Stuff on eBay (CD-ROM)
  • The Insider Secrets to Finding Hidden Treasures on eBay — and How to Use This Knowledge to Make BIGGER Profits! (CD-ROM) (Personally I wish they’d just print the CD-ROMs, but this entire package is such total “OH RAPTURE!” quality, what can I say? They’ll get no complaints from me.)

And last but certainly not least, a 9×12 envelope marked “TOP SECRET” and holding 17 “PowerSeller Secrets” printed on both sides of 17 sheets of card stock, including:

  • How to enter… (Ooops! Fortunately, I’m awake enough to realize it’s time to shut up.)

If you’ve followed my rantings for any time at all, you know I am a *GREAT* fan of The Late, Great Corey Rudl. (Lest you think I follow BLINDLY, you should know that I do NOT promote all of his products; only the ones I feel are magnificent beyond compare.)

I gather Corey was a bit of a daredevil, and he trained his staff well. If anything ever happened to him, he wanted to be sure the company survived — and survive it did. In fact, as far as I can tell, it’s SOARING.

This course is EVERY BIT AS GOOD as Corey would have done himself. NO STONE is left unturned, and NO DETAIL is left unexplained.

If you’ve ever lusted after the idea of making REAL MONEY on eBay, NOW IS THE TIME.

I simply can’t say enough good things about this course, and I look forward to applying it to my own “eBay dabbling” and hope eventually to find the time to turn it into a thriving business under the guidance of this magnificent piece of work.

If I weren’t so tired from the nights I’ve read it into the wee hours, I’d climb up on the roof and shriek,

OH RAPTURE!!

Luv,

MaaMaw

P.S. If you have any questions at all, please send me an email.

Click here to ORDER (or just to get MORE INFORMATION about) the most **COMPREHENSIVE** EBAY TRAINING COURSE on the planet

? REFRESH to rotate MAAMAW’S CLICKY NOTES thru this space….. Timely Tips, Best of the Boards & More ? PROTECT YOURSELF FROM SCAMS! Research all business opportunities thoroughly, and never blow off other people’s bad experiences. Ask around (and listen!). The Scams101 Message Board is a good place to start. What’s that? You’ve found a Biz Op and you’re wondering if it’s endorsed by FIB?… Not unless it’s listed in MaaMaw’s Magnificent Toolbox.

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How to Make Money Selling on eBay

| Author Money

How to Make Money Selling on eBayYour complete guide to auction sales

eBay Fee CalculatorWant to know how much eBay will charge you for your auctionn? Use your instant fee calculator to find out.

Step by Step to Finding Your Niche Market on eBay Finding the perfect niche for profit.

Selling Related Products to Your Hot Selling Product on eBay When you have found that hot selling product, expand to selling related products,

Storing Your eBay Products for Selling Proceed with caution and think about where you will store your inventory.

Selling What You Love on eBay Why you should consider selling products you love, so it is less like “work” and more like fun.

Do you need an About Me page on eBay? Why more sellers should think about creating one for themselves.

Benefits of an eBay Store Why starting an eBay Store can work for you.

Should you register a domain name for promoting your auctions? Why a $7 investment for a domain name is a smart idea

Always Check for Product Spelling Variations Increase your bids and earnings by checking for common spelling errors and variations.

Including Your Auction Terms in your Description

Details, Details, Details for your eBay Description When it comes to selling on eBay, more is not less.

Writing Smart eBay Auction Titles

Basic HTML for your eBay Auctions Dress up your auctions with some simple HTML code.

Adding Colored Fonts to your Auction DescriptionsAn easy way to make your descriptions stand out.

Using Different Fonts in your Auction DescriptionsWant to use a different font than the eBay standard?

What is Buy It Now?What is BIN and how should you use it?

Should You Lowball or Highball Your Buy It Now Price?Finding the perfect BIN price for your auction.

When Should You Not Use Buy It Now on Your Auctions?When are you better off without it?

Buy It Now for HolidaysWhether it is Christmas, Valentine’s Day, Hallowe’en or the Fourth of July.

Blocking Certain Bidders from Bidding on Your AuctionsYou can tell eBay who you don’t want bidding.

eBay’s Second Chance OfferOffer your item to underbidders, all with eBay’s blessing.

What is a Private Auction?What exactly is a Private Auction on eBay?

When Should I Use a Private Auction?It isn’t just for potentially embarassing items.

Signing Up For PayPalMore eBay auctions are paid for using PayPal than any other way.

Upgrading to a PayPal Business AccountAccept credit cards with no limits

Adding PayPal to your eBay Auctions & CheckoutIntergrate PayPal directly into your auctions.

What are eChecks?An easier & faster way to accept money from a checking account.

Accepting ChecksHow to accept checks so you don’t get burned by bouncing ones.

How to View Your eBay Feedback How to see what feedback rating you have at any time.

How to Get Negative Feedback Removed on eBay You get a negative you don’t deserve. Here is how to get it removed.

Responding to Negative Feedback With Class You made a mistake. Here is how to respond to your negative the right way.

How to File a Non-Paying Bidder ReportYour first step when a deadbeat won’t contact you.

Requesting Contact Information for a Non-Paying BidderAlternative ways you can contact your bidder.

Reporting Stolen Auction Photos to eBayHow to alert eBay to an image thief.

Protecting Your Photos with a No Right Click ScriptA simple script to use in your auction descriptions to help prevent photo theft.

Report Copied Auction Descriptions to eBayHow to report a copyright infringer – yes, even your descriptions are copyrighted.

Selling on eBay Home | Auction Descriptions | Auction Options | Payment Options | Feedback | Non-Paying Bidders | Description & Photo Theft

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Keys to eBay Selling

| Author Money

Why is starting an eBay business so appealing? Because it’s easy, fun and can be done from the comfort of your own home. But what if you want to do more than just sell a few items and actually make money on eBay?

How do you turn your selling on eBay foray into a successful eBay business? That’s what Adelia Linecker wanted to know when she interviewed me. The following interview transcript presents what I think are the keys to successful eBay selling. (Adelia Linecker’s article, “Kicking Up Online Profits”, appeared in Investor’s Business Daily, 9/28/2006).

Question: What can researching eBay before listing a product or launching a store reveal?

Answer: Researching eBay before listing a product or launching a store will answer three questions that are vital if you actually want to make money on eBay:

  • Is there a market for this?
  • How much is this item worth?
  • How much competition is there?

You need to know the answer to at least the second two of these questions before you bother to list something on eBay.

Question: How important is it to the success of your eBay business that your products are easy and not too expensive to ship? What else should you know about shipping before starting an eBay business?

Answer: Critically important. Take a foolish example. Suppose you want to sell rocks on eBay. It cost $86 to ship each rock to a Canadian address and more to send one anywhere else. However, no one seems to want to pay more than $5.00 for a rock. You can see what would happen to your business if you were dumb enough to sell any rocks under these conditions.

You need to know all the details about shipping before you sell anything on eBay.

Question: What must you include in the description of your products to improve chances they will sell?

Answer: When you’re selling on eBay, the description of your products is your “Unique Selling Proposition”. It’s one of your big chances to get the viewer to want your product. (The other is the picture of the item.) So if you don’t invest time in developing a mouth-watering description of your product, you’re throwing away half your chance to sell it.

So you need to include details (such as colour, size, weight etc.) as well as features that set your product apart from other such products and make it desirable. For instance, you don’t just sell “teddy bears” on eBay. You sell “handcrafted, one-of-a-kind teddy bears”. The trick is to think like a purchaser. What would you want to know about the item? What would make you buy it?

Question: Some people are eager to make “a ton of money” with an eBay business. How realistic is this? What should your focus really be at first so that you can eventually make a decent return?

Answer: Making a “ton of money” is not a realistic expectation – but if you have the right products, do things right and are prepared to work at the business, making a good living is.

Because of the way that eBay works, your focus at first should be establishing yourself as a proven, trusted seller and building up the positive feedback you need to do this. If you want to run a successful eBay business, you have to take the time to do this.

Question: eBay sellers can sometimes come across as unreliable, or at the very least obscure. What can you do to make buyers feel you are a serious business?

Answer: Run your eBay business as a proper business from the get go. That means going through the steps of setting up a real business, charging appropriate taxes, following standard business practices and investing in things such as professional looking packaging.

Question: Any books, Web sites or other reliable sources you can recommend for those who want to start an eBay business?

Answer: eBay itself is a wonderful resource for anyone wanting to become an eBay seller or increase their eBay sales success. Besides the resources on their site, they’re also offering eBay courses/seminars in various cities around the country.

We (About) also have a site all about eBay (http://ebay.about.com/). And, of course, those interested in starting or running an eBay business will find plenty of material to help them get started and develop a successful business on my site, About Small Business: Canada. (You knew I was going to say that.)

Adelia Cellini Linecker is a Los Angeles-based business writer. Her biweekly column appears in Investor’s Business Daily. She also contributes to Variety and is author of “What Color Is Your Piggy Bank? Entrepreneurial Ideas for Self-Starting Kids.”

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Make Money Buying and Selling College Textbooks

| Author Money

If you have an interest and knowledge of books, live in proximity of a college and have some free time, selling college text books is the perfect way to make money. For those who want to earn a little extra cash, this business can be run from home, only requires a couple of hours work at most, and gives you free time to do other things.

There are many advantages to selling college text books compared to other second hand books. If you are considering starting a business selling secondhand college textbooks, consider these benefits. Firstly, College text books are not subject to the same economic trends and cyclical buying patterns of regular books. People will buy college text books no matter what the economic climate is; if it is a required reading for their course, it will be purchased. College students will also be more likely to purchase secondhand books, as they usually will try to save money when not in full time employment. College text books are not often given as gifts so people have little reservations with buying the exact same book that has previously been used. In fact many college students prefer used books as the previous owner often leaves useful notes and markings within the book which can sometimes be helpful. Because of the sheer cost of new college text books many college students prefer to buy them over new books. This also benefits you as there is more money in textbooks than in something like paperbacks, since single books can often fetch up to $100, the profit margins are greater when selling second hand college text books.

Starting a business selling second hand text books is also an attractive venture as it can be run from home and it can be run with little investment. If you are in close proximity to a college, you can often do buying and selling through the campus, either by meeting interested parties as requested, or setting up a stall with permission.

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Make Money Selling Things on Craigslist

| Author Money

One of my favorite ways to make extra money is to sell the excess from around my home. With fast growing kids, changing styles, and new life phases, it seems I always have an abundance of items that are no longer being used. The first place I look to sell these items is on Craigslist. In my opinion, unless you have something very valuable (that is shippable) Craigslist is the way to go.

There are no fees with Craigslist, meaning all the money you make is yours. You get to set your price. There is no gambling as to whether you will make any money. You set the price you want and hope it sells. If you list an item for auction on EBay there are a couple of bad scenarios that can happen. The price does not get bid high enough for you to make any money after the fees, or it doesn’t sell at all and you are still out the fees (meaning you just lost money). No worries when selling on Craigslist – if it doesn’t sell you are only out your time.

I have found that some things work better than others. Grouping like items together will help them sell better and more quickly. Do you have an entire wardrobe of boys 4t clothing? Rather than selling it one piece or outfit at a time, group all winter clothing together and all summer clothing together and sell it that way.

Take good pictures of the items you are selling. I believe that Craigslist will allow four photos, but I can never get more than one to load. I just say in the ad that I have more photos and to email me for them if interested. I have never had a problem selling anything by doing this, as long as I have one photo up. People can judge the condition fairly well and decide if it is worth pursuing. I know that I really dislike searching for something and not being able to see a picture of it.

Be very careful when selling on Craigslist. Sometimes strange people respond to my ads. There are a couple of ways I protect myself when selling items from my home. First, if I get even the slightest strange feeling from an initial email I just ignore the email. They do not have any of my contact information unless I reply to their email. Better to be safe than sorry in my book. Second, I will only schedule pickups when my husband is home and I make sure the person that is coming knows that my husband will be home. Third, I have the item waiting by the door, or if it is nice weather I will make an excuse to be outdoors with the item waiting on the buyer. Fourth, I keep the phone with me at all times when I am making a sale. Fifth, I only deal locally.

Unfortunately scams are running rampant on Craigslist. If someone contacts you from far away, even just another state, but especially if they are from another country just ignore them. If someone tries to pay you more than what you are asking for be very wary. I would ignore these offers too. If someone wants to have you ship the item, don’t do it. These are all typically scams. They offer to pay you more for your “time”, mail you a cashiers cheque (fake!) and have you ship the item. Only after you ship the item does the cashiers cheque bounce and you have created a major mess for yourself. Deal locally, in cash only and you will be fine.

If you need extra money, Craigslist is a great place to sell your unwanted items. If you haven’t tried it before, it is super easy and fast. Good luck!

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Make Extra Money Selling Legos?

| Author Money

Make Extra Money Selling Legos?

May 17, 2010

Making extra money is something that all of us have probably felt the need to do at one point or another in our lives. There are many different ways to bring in some extra cash, the trick is to find work you can do or something you can sell that fits into your current life situation.

For example if you already have a full time job, you could get a part-time job in the evenings. Of course you have to consider things like how far away you’d have to travel, how much money you’d be making, any related child card expenses, etc

It’s not always easy to find the “perfect” side job that earns you a nice amount of money compared to the work you have to put in and is something that you enjoy. Fortunately for our family, my wife found a part-time job that worked really well for us after she left her full time position a few years ago. However, it’s looking more and more like she might be losing that job due to budget cuts.

This has us thinking lately of ways we can make extra money and reminded me of a video I made a while ago for everyone on the Money Smart Life newsletter. The video talks about a former co-worker of mine who makes enough money in his side job to pay his mortgage each month by selling Legos. I remember hearing him talk excitedly about the idea when he first started his venture and each year he started making more and more money.

I have to warn you, it’s one of my first videos so it’s a little long and I use a monotone voice so it’s not very exciting, but I think the information is good so it might be worth a few minutes of your time to check it out the link below if you’re looking to make some extra side money.

Make Extra Money with Legos


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Written by Ben Filed Under Personal Finance

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How to Make Money Selling on Ebay

| Author Money

People often ask me how to make money selling on eBay with eBay Auctions!!

I guess it is because I have been buying and eBay selling through eBay auctions since March of 2001 and I am completely hooked. I am not the only one, as the search terms “selling things on ebay”, “ebay selling” and “ebay auction” are hugely popular! I have found ebay selling it to be an excellent way to earn extra money. Perhaps you have things at home that you would like to sell: One option you have is to have a yard sale – but another better option you have is to sell the items on eBay! You’ll not only spend less time with an auction, but it is a lot of fun and you’ll make more money!

Anyway, not only do I make money with eBay auctions, but I save money as well. eBay is a great place to buy things for my family at great prices. I buy home school books, clothes for myself, clothes for my kids, things for the baby, household products…you name it and you can probably find it in an eBay auction! My husband shops for software and computer hardware and electronics on eBay before looking anywhere else.

The first thing you need to do to begin buying or selling on eBay is to register. Ebay selling is very easy and is free! My recommendation is to begin by making several purchases on eBay. It is much easier to get your feet wet by buying than it is for selling. People are more likely to buy from you if you have some feedback from other auctions. You get feedback by having a good transaction with another eBay seller. Not yet registered? Join here to Start Making Money on eBay! Once you have registered, you will want to look for some good resources.

Follow the links below for more information on earning money selling on eBay:

  • Free Resources for Finding Products to Sell on eBay (Free ebooks, free videos, free articles)
  • Get the ONLY Drop Ship and Wholesale Directory Publisher that is CERTIFIED BY EBAYI
  • Sell on eBay Auctions for Fun and Profit

  • Free Video Lessons on finding vendors and products to sell on eBay.

  • Drop Shipping – Sell on eBay without carrying inventory
  • Buying Wholesale and Selling on eBay

  • Starting an eBay Store

  • Frugal Mom now has a new forum just for Online Auctions! Visit our forum and scroll to the Work from Home Section. There are great tips and friendly ladies who can help you get started on the right track!

Selling on eBay

When you are ready to sell on eBay the first thing you must decide is what you are going to sell in your eBay auctions. The trick is to know what to sell on eBay to make money. I began with eBay auctions selling things I had around the house – things that I would normally sell at a garage sale. I listed one or two things at a time and then worked my way up to more items at one time. You don’t want to list too many items the first time because once the eBay auctions end you will be overwhelmed. You must keep track of who won which auction, shipping costs, payments for the auctions and shipment of the auctions. It is a lot to do so don’t take on too much at first.

Once you have decided what to sell on eBay you must write up a description of the item. can’t stress enough the importance of being honest. If the item you are selling has a defect of any kind – mention it. You must be very upfront with the buyer and accurately describe what you are selling.

Unless you are going to only sell products from vendors that can supply pictures, I highly recommend making the investment in a digital camera. Check out our tips on using a digital camera for your eBay auctions click here. Most eBay auctions show pictures. If I am choosing between the auction that has a picture versus one that does not have a picture I will always choose the picture auction to bid on. This is simply because I want to see what I am buying. EBay buyers have a much higher comfort level with buying something when they know what to expect than buying sight unseen.

To list your item for sale on eBay you just need to follow the sell link at the top of the page. It will guide you step-by-step through the process.

Drop Shipping and eBay Auctions

Drop Shipping – If you are serious about selling on eBay you really need to consider drop shipping. A real “Drop Shipper” is a legitimate Wholesale Supplier who will send products directly to your Internet customer for you, one product at a time, from their warehouse. They pack and ship the products for you. You pay the drop shipper the Wholesale Price for the products, and charge your customer your Retail Price. The difference between those prices is your profit. You never have to touch the product, or spend money to fill your garage up with products that you might not sell.

With Drop Shippers, you don’t pay up front to stock products. You don’t warehouse anything, or ship anything. You simply place product information (images and descriptions) on your auction, take orders, and email those orders to your Drop Shipper. THEY ship the product to your customer’s door. You never have to touch it. YOU set your Retail Price, and pay the Supplier the Wholesale Price, making a profit every time.

The hard part is finding legitimate drop shippers for your eBay auctions. When I first looked into this idea I put the search term “drop shipping” into Google and came up with lots of hits. After a lot of research, what I discovered was that the drop shippers I was finding were not actually drop shippers but were the middle men! I even purchased on eBay a drop shipper list. I found out though that the list was junk. I only paid $3.00 for it but it was my $3.00! You get what you pay for!

Those people pad their lists with worthless information on middlemen, resellers and closeout liquidators that charge you overblown prices, false account setup fees and order minimums. They take the easy way out, and sell you junk information, instead of doing the work it takes to really do the research. What you need is a good, reliable source.

What solution did I finally find?

I became a member of Worldwide Brands. If you are serious about making money online through drop shipping, this is THE way to go. It is highly recommended by Frugal Mom.

So what is Worldwide Brands?

Worldwide Brands is a membership site that will give you everything you need to get your business started. Here are just some of the top-of-the-line benefits of membership:

  • INSTANT access to over 8 million wholesale products.

  • Immediate access to research on the best products to sell online.

  • Resources for setting up your business and getting a Sales Tax ID in your state.

And talk about a place to learn about the drop shipping business! Look at what the included Whole $ale Ebiz Education (a value of $399.00) gives you:

  • 19 videos to jump start your e-biz

  • 19 comprehensive workbooks that EXPAND on each video course

  • Interactive Self-testing modules that show you what you’ve learned, and what you need to review to insure your success.

  • Real-world Exercises that teach you in understandable terms what each Course means and how it applies to your business.

  • Specifically targeted Resources for each course that tell you how to expand your knowledge even further, and find the TRUSTED places to go when you need information on other subjects.

For a limited time, these benefits are also included:

  • Selling on Amazon Bonus – 1st 2 Months Free (a $79.98 value)

  • Yahoo! Stores Bonus – 1st 6 Months Free (a $779.70 value)

  • Free Copy of QuickBooks with Merchant Account Setup (a $199.95 value)

All of that, and MORE is included with your membership to Worldwide Brands. If you are serious about drop shipping I can’t think of a better route to take. I know you’re probably wondering about the cost. Right now, the one time price, which gives you lifetime membership, is $299.00. That may sound steep, especially if you are a frugal mom like me. But I can tell you, the value, quality, and education that you will receive from Worldwide Brands is unsurpassed by anything I have seen. I have been a member for several years now, and it just keeps getting better and better. It is worth every penny, and so much more. Truly.

Buying Wholesale and Selling on eBay

Wholesale and eBay – A real “Bulk Wholesaler” is a legitimate Wholesale Supplier who will sell you several cases of products at a time at a Wholesale Price, and ship them to you. You store those products in your home, and pack and ship them yourself to your customers who order them from your Auction. You charge your customers your Retail Price, and the difference between Wholesale and Retail is your profit.

The problem with this is a lot of companies have very high minimums. Most stay at home moms don’t have thousands to invest in one product! A solution to this is finding companies that will sell small quantities and still give you wholesale prices. Worldwide Brands also has sources for purchasing wholesale products with LOW minimum orders.

* Sell New, Factory-Warranted Products, at Wholesale Pricing, to you; the Home-based Internet Business Owner.

* Sell to you in Affordable Quantities, with minimum orders under $500.

If you like more information about Drop Shipping as a Home based business, visit Frugal Mom’s Drop Ship Pages!

Starting an eBay Store

Whether you are a experienced eBay seller or just getting started, an eBay store can be a good way to reach customers you may not have otherwisecaptured . If you have thought about starting your own business, and have had good results with auctions, opening an eBay store may be a good solution

An ebay store can give you more exposure and the chance to sell related items to a shopper that was interested in one of your auctions. Some owners develop repeat customers. Store owners are more likely to get repeat buyers than regular sellers, if they provide good customer service. However, for this to work, you will need enough inventory to justify the monthly fees. Most sellers would say you should have a minimum of 75-100 items in your store.

There are benefits and drawbacks to having an eBay Store. However, with store fees ranging from $15,95 a month to $499.95 a month, you need to know what you are getting into. It would be a good idea to read the eBay the help files at eBay, including the How do I open an eBay store FAQ as well as the eBay Stores forum to get a better understanding of the pros and cons of an eBay store

Need more ideas?

Work at home: Work at home ideas for the stay at home mom

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How to Make Money Selling College Textbooks Online

| Author Money

How to Turn Unwanted New and Used Books into Cash At the end of the semester, college students line up at the university bookstore for book buy back, hoping to recover at least a fraction of the purchase price for their pile of textbooks. Too often, however, students find that some of their books are now worthless, due to new editions taking the place of old for the upcoming semester. The good news is, in an electronic era where textbooks can be bought and sold online, this is a scenario that need never happen.

Consider Selling Back Textbooks Online

You don’t need to be the owner of a bookstore to sell books online. The internet now has many resources that enable students to easily sell their new or unused textbooks, and it is easy and worthwhile to do, even when a student only has a few texts to sell.

Selling Books Though Amazon

Listing unwanted books on Amazon is a simple process, but does require a little bit of setup. First, go to the Amazon website and set up an account, providing your email address and a password. Once a general account is in place, there is then the option to set up a “Sellers Account.”

Amazon Seller’s Account

Setting up a sellers account involves providing Amazon with contact information and selecting how you would like to receive money from books sold (bank account or Amazon Gift Card). Sellers are also required to register a credit card.

Listing Books for Sale on Amazon

If, before setting up a sellers account, you first want to determine the price that your books are selling for online, select “Advanced Search” and enter the books ISBN number, typically listed above the bar code on the back of the book. Using the ISBN to search for a title ensures that you find the exact book you are looking for. This is important, since books with the same title can have different printing runs and editions.

When the book you are searching is displayed, the lowest new and used prices will be listed as well as the number of copies that are for sale. A box on the right side of the screen asks “Have one to sell?” with a “Sell Yours Here” button.

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