That Get Rich Quick Scheme of Yours Will Probably Fail

July 25 2011 by Ellie Opas in Loan Analyst |No Comments

Be careful what you sign up for You’ve seen ads and watched late night infomercials for get rich quick schemes. You may even have signed up or bought a guide to quick riches.

The good life We all dream of living the good life, guys lying back, surrounded by lots of beautiful girls in bikinis. Most of the get rich schemes are aimed at men. There are no ads featuring laid-back women surrounded by scantily clad men.

Reality Reality comes crashing down when you realize that the only person getting rich quick off of these schemes or books is the guy who sold you the “system” which was supposed to make you wealthy beyond all imagination. Here’s the reality: while some get rich quick schemes really are crackpot ideas that will not make anyone rich, many of them actually do have some good ideas. The problem isn’t so much in the concept as in the methodology.

Important Aspect The problem with a get rich quick scheme, assuming it is a decent one is that they show you the pretty girls and the fabulous lifestyle, but they don’t show you the hard work that goes into making lots of money.

Luck We see people like Mark Zuckerberg and say wow, “that guy was so incredibly lucky to have created Facebook when he did”. What we don’t see is that he worked like crazy to create his company, putting in the 80 hour weeks to make it happen. We don’t see the time when he was poor and living in a college dorm, trying to build a successful company.

The Problem This illustrates one of the two problems with get rich quick schemes: They focus on the goal of becoming a millionaire when they should be focusing on the work that it takes to get there. There is a certain amount of luck, of being in the right place at the right time with the right idea involved in them.

Another Reason Whether you want to get rich quick or get rich slow, you’re going to have to work hard to do it. However, in order to get rich quick, it’s more than just working hard, it’s working smart. It’s coming up with an idea that could change lives and then running with it.

The cookie cutter approach This is the second reason that most get rich quick schemes fail – because they suggest a cookie cutter approach rather than you taking the idea and crafting it to your own individual needs. If millions of people could follow a simple, turnkey idea and become multi-millionaires, there wouldn’t be any poor people left in the world. The reality is that not only do you need to work hard, but you also need to be innovative, to put your own “seal” on the get rich quick scheme by adapting it to your needs. That’s the way to make untold riches. Unfortunately, most of us have trouble thinking outside the box and as such, tend to fail at getting rich quick.

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