The difficult financial times have pushed so many unprepared people into looking for alternative income sources and as expected, several unsuspecting individuals have fallen victims to fraud schemes in guise of lucrative business ventures.
The saying “knowledge is power” has never proved to be truer than in desperate times that are upon us.
Just before I share a simple lens with which you can identify fraudulent schemes and enterprises, let’s first look at the root of what makes a person susceptible to being scammed.
Ignorance and greed are two of the major reasons why many people have fallen victims to the many fraud schemes.
Greed; an intense and selfish desire for wealth, has led people to do all kinds of things to amass wealth.
A more subtle manifestation of greed is the desire for more money without working for it in an unreasonable period of time – just like that.
(This is one of the reasons why most people got involved with MMM and the very reason why it would come crashing sooner than most people like to think. Giving and receiving HELP is not a business model and it is SELFISH to give ONLY BECAUSE you want to get ‘HELP’ in return. Where do you think they get the bonus to give you from anyway? Take caution so that you won’t say I told you later in regret.)
Greed is at the core of human nature and you can not deal with it all by yourself – exactly what Jesus came to do for us; destroy the sin nature and give us His divine nature – that’s why you should give your life to Jesus if you haven’t already so that he can destroy the corrupt human nature and empower you to live above the dictates of the flesh.
Ignorance sells you out for cheap. Unfortunately, ignorance has caused more people pain than people love to admit. Ignorance of what a business is and the principle governing how money is made.
So how do you spot a fraud scheme presented in the guise of a business/investment opportunity?
Slow down and examine the process until you get your money back.
Ask the following questions;
how does it make monetary profit?
Money is a reward of providing value. It is a reward for solving a problem.
So before you put your money in a scheme that will only cause you tears, find out what value the opportunity or business provides. If you’re not clear on the problem it solves, let it go.
So let’s go back to the MMM scheme; what value does it provide? HELP???
What problem does it solve? HELPLESSNESS???!
How does it make profit? Another person will help you with a higher amount… lol!
What is it selling? NOTHING!
People have come to me severally to seek for advice whether they should invest in MMM or to find out if MMM is a scam that’s why I am using it as a case study.
Can you see where this MMM is going? I hope you do.
The unfortunate thing about such schemes is that there’re similar to gambling; after you’ve won a few bets – you’re hooked! (I met someone who was trusting God that he would make it in life through gambling, what’s worse? I met him in the church circle! He wouldn’t be persuaded otherwise.)
Any investment opportunity that promises you outrageous amounts in such a short period of time should be thoroughly examined. Don’t get me wrong, there are profitable business opportunities. I’ve been involved in businesses where I made profit of over 100% within weeks.
But like I said, they were businesses. I had something to sell. I had value to exchange for monetary returns.
It takes time (not forever though) to turn in significant profit – I have an investment program in which I pay 100% returns but it takes 12 months to get the returns.
So in summary, if it doesn’t provide any value to people, you can’t see how they make money or it just promises you a mouth watering return without any work on your part; be on guard – you might just be looking at a scam.
God answers prayers but you must be on guard so you don’t jump into a ditch with your eyes wide open.
That’s it for today.
Feel free to ask your questions and I’ll be glad to help you out.
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Remember your financial destiny is in your hands, take it seriously.
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God Bless You.
The Blessed One.