Making money online is trending today. Sometimes the process is legit and can actually be a profitable process of making some side income. But given the dark side of the internet, most of the money-making sources are frauds. They promise something and deliver something else.
Identifying such fraudulent business setups is important these days to save money and time. We list out a few questions whose answers will help identify spam business ideas.
Question# 1: Does it solve a worthwhile problem?
One of the first things one has to look into is whether or not profitable business ideas are capable of solving real-life problems. It’s often a misconception that all online ideas can make money or is worth investing in. But this isn’t true!
One needs to carefully examine what the problem is and how the product can be pivoted to solve the existing problem.
If it doesn’t solve a problem, then it doesn’t serve the purpose of being a money-making idea. To cut some slack, most of the ideas may not solve problems directly. But at least should be capable of being a part of the solution.
Thus, while looking into identifying whether an idea is a spam or not, one has to look into this aspect of the business idea carefully before making any commitments.
Question# 2: Can it sell?
This may look obvious, but in my opinion, it isn’t. Understanding this aspect begins with understanding the market pricing. One of the foremost steps in doing this is to know your audience and what they are willing to pay for the solution you propose.
For example, US has many online users compared to the rest of the world and whatever that you are looking to sell online in a US market, will sell for sure. But the same would not be true to the Chinese audience. They would be looking for other aspects of the same wheel while making decisions on buying and selling.
Therefore, knowing who you are selling for is as important as knowing how much you are selling it for. This will answer the second aspect.
Question# 3: Does it adhere to the Franchise rule?
The FTC (Federal Trade Commission) has set out certain ground rules that have to be followed by businesses online. Although FTC’s rules are not mandatory, it does serve as an important government body that helps you identify who is phony and who is not.
For instance, say one company is posting an advertisement claiming to make money online. If the ad does not contain a number or percentage of people involved or benefited from this, then the claims made are usually fraudulent.
It’s the right of every person who is looking to make some side income or is looking for a part-time job online to ask such details before considering an investment.
Question# 4: Is the Domain verified and recognized?
DKIM (Domain Keys Identified Mail) and SPF (Sender Policy Framework) are the two standard ISP (Internet Service Protocol) that authenticates the identities of the senders. Setting this up manually takes time and effort. A company who is legit will take some time to set this up so that their emails and promotion newsletters will not be identified as spam. Else they choose to look for services from third-party vendors that can offer this.
Once this is taken care of, at least one can be sure that the emails created by the company will reach the target audience for sure and that the emails would not be marked as spams.
Question# 5: How do they plan on appealing to the audience?
This aspect is a little tricky to understand. The easiest way to identify this is to take a look at their marketing emails.
Are their emails too fancy and decorated?
Do they have too many pictures and very little content to go with?
Do they even make sense on whatever they claim to have?
Are they repeating their offers and extending their deadlines over and over again?
If most of them are true, then the campaign is probably fake.
The flip aspect of this:
Someone offering you a service at a reasonable cost.
People and manpower who are skilled in attending to your calls
People who are trained to talk in a systematic manner making all sense,
Adds a lot of weight to whether or not a source is legit.