“How I made $100k flipping phones in 60 days” - sounds too good to be true and probably is. How to tell

[elizasteave]

I’ve seen a lot of “too good to be true” get rich quick schemes over the years.

These business usually make money coaching others how to do it.

If I knew how to make $100k in 60 days, I probably wouldn’t tell others how to do it. It would saturate the market and destroy my business.

My guess is there’s more money in coaching people how to do X instead of just doing X.

I won’t call it a scam, but it seems like a waste of your money. Especially if a thousand other people took the same course and know the same “secret”.

So it doesn’t pass my test for a good business.

What are some other “get rich quick” ideas you avoid and what tests do you use to identify them?

 

[roadoftravel]

@elizasteave I think the playbook is do it, once you see it's on the decline, share the secrets as there is more money to be made that way and let all the lazy wanna get rich suckers give you their money.

 

[elizasteave]

@roadoftravel That may work for some people, but that’s not the business I want to be in. I’ve seen too many people get taken advantage of and I don’t want to be part of that.

 

[613jono]

@elizasteave Plus the advertising of these gurus is so cringy. I wouldn't be able to sleep at night in good conscience doing something like that.