by Frederick Mann
(Excerpt from WealthBooster Magazine -- Issue #3 -- December 27, 2000)
To succeed at making money on the Internet, there are steps you can take that will increase the probability of your success. Every step you take to make money has a certain probability of success.
Many people join some money-promising program (or a few). Then they promote their program(s) to all the email addresses they can find. They may also post advertisements to all kinds of opt-in lists, FFA pages, and classified ad sites. Most wannabe money-makers probably have relatively little success with such promotion.
The actions they typically take have a low probability of success.
In order to better succeed in life, most people undergo "education" of various sorts. They invest time and money to acquire knowledge and skills that will hopefully increase their probability of success. Some may even spend several years and tens of thousands of dollars for a "college education" in order to increase their probability of success.
Some of these people apply whatever relevant knowledge and skills they've learned to make money on the Internet. This usually involves joining one or more money-promising programs and then promoting them. Success often depends on the ability to recruit others into your program(s).
BB7M was launched just under seven weeks ago and now has over 6,000 members. Looking back, it's easy to say that BB7M had a considerable probability of success from the beginning. After the early spurt, when it seemed that BB7M would grow at a rate of about 500 new members a day, growth has slowed down to little more than 1% per day. Feedback from members has resulted in numerous improvements, including the addition of WealthBooster Magazine. BB7M/WBM can now also be promoted as a FREE ezine with a downline builder and program promoter attached! These improvements increase the probability of success.
One of my claims is that promoting to BB7M members yields a higher response rate than promoting to strangers. See "Cracking the Code".
To succeed with BB7M and other money-promising programs requires marketing knowledge and skills. The single most important element in making money on the Internet is marketing. The most effective way to increase the probability of your Internet money-making success is to improve your marketing abilities.
Nevertheless, some portion of wannabe money-makers simply won't make a serious attempt to become better marketers. They may spend several years and thousands for a "college education," but won't spend a few $ and a few months to become successful marketers.
For those who don't want to learn to market, there are programs for which you don't have to sell anything, nor recruit or sponsor anyone. Generally, these are "High-yield-type" programs. Unfortunately, a major pitfall with such programs is that they are not sustainable for very long, are outright scams, or become scams at some point.
For an example of the kind of exponential earnings possible with an earlier program paying 3% per month on own funds and 1.5% on referral funds -- earnings of up to $70,000 per month -- see Economic Means to Freedom - Part VIII
The probability of successfully achieving such earnings depends on selecting good programs, proper diversification, prudent risk management, and effective marketing.
(By the way, my experience has been that any programs which promise a high return, and are dependent for their long-term sustainability on many thousands of people continuing to join, have zero probability of success. ArtOpps, Virtual-Share, and "Gifting" type programs are in this class.)
Here's to fortunes in 2001!
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