Are there any get-rich-quick schemes that actually work? This is a common question I get from my students (usually asked secretly).

The answer is NO.

Do you want to know the real reason why get rich quick schemes don’t work?

The thing is that they can actually work but there’s a big catch and that’s what I am going to discuss here.

As an online entrepreneur, I hear people talking about a lot of hacks (jugaad) that promise a lot of money in a short time.

And that itself is the problem.

That people are talking about it. That means the method is out there in the open.

If it’s being discussed then it’s too late to apply even if the method works.

That’s because more people are already applying it, thereby “exhausting” the potential benefit of that method.

I’ll give you an example of this.

We are close to 2022 and so many digital marketers are still selling their courses on how to become a successful blogger and make money.

The truth is that your chances of making significant income by running just a simple blog are very slim nowadays.

That’s because the real time to make money off blogging was back in the early and mid 2000s when no one knew that blogging could be used to make money.

The people who had the intelligence to notice that blogging was something that will eventually become very popular were the ones who really benefited from blogging.

Even if you started a proper blog 10 years back, it would still have had a greater chance of becoming more successful than today simply because not many serious bloggers were there at that time.

Basic demand and supply principle.

Another example of this is the hot topic of Cryptocurrency. Who benefited the most? The ones who started investing in it early on when the general public wasn’t even properly aware of what Cryptocurrency was.

So get-rich-quick schemes do work sometimes but they only reward the people who are first to notice the trend. It’s a reward for their intelligence and luck in some cases.

It’s like saying you worked hard or got lucky to find a gold mine. Now there’s nothing stopping you. But as more and more people start coming there, it will gradually start to become a less fruitful affair.

In fact in the famous California Gold Rush that lasted from 1848-1855, the people who made the most money eventually were the people who sold shovels to the miners and not the miners themselves.

This is one of the reasons why I always emphasize in my webinar that the Online Course industry is still booming and that’s why it’s a great time to get into it.

But I also make it clear to my potential students that running an online course business involves a lot of work too. It’s not a get-rich-quick scheme.

That’s because I know that even though this industry is booming like crazy, we are not the first ones to get into it.

But this gold mine is at a stage where if you have a bigger shovel (right knowledge) and are willing to hit harder than the rest, you still have a great chance of success.

And finally, the main reason why I can tell you with some authority that get-rich-quick schemes don’t work is because before properly diving into entrepreneurship back in 2013, I tried every possible hack and short-cut to make quick money, at least in the online marketing world.

I tried over a dozen types of online businesses but the common aspect amongst all of them was that they were all half-hearted businesses with only one intention – to quickly make money.

And that’s exactly why they did not work.

The last straw for me was when I stooped so low that I pretended to be a dating coach and earn quickly money via affiliate marketing. My business was called Love Master India. Yes, you read that right. I still haven’t deleted the Facebook page for that business so it always serves as a reminder for me to never be dishonest just to make quick gains.

So be careful the next time you hear about a crazy idea to make quick money. Once you research more, you’ll probably find it’s already an exhausted gold mine.

Always remember that the best get-rich-quick schemes that have a chance of working will always come from your own mind.

From your own intelligence.

Otherwise, just accept that running a business is going to be a bit of everything – hard work, talent, smart work, luck, etc and it is certainly not going to be quick.

Let me know your thoughts in the comments below.

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