Waiting on an Opportunity
Bad deals, we have all been there. The phone rings, someone is at your door, your friend contacts you via social media or you run it to someone while you’re out at the mall.
Within a few moments, you went from minding your own business, to being excited about an opportunity, product or service.
May be your skeptical but you decided to hear what the person has to say.
You have been waiting for a business or financial opportunity to come your way, and not here it is.
But before you get excited and jump in with both feet first. You may want to do your diligence.
Why We Get Suckered in
I joined a network marketing group in my early 20’s. I had seen the same opportunity 2 previous times and had also come across 3 other business.
The message was the same. Grow your network by working with your friends. All you have to do is work part-time and you can make a full-time income. Working only 20 hours a week has its appeal.
Then you are told you can make a six-figure residual income by building a network. Now I know there are many ways to make money. You can review products, invest, work longer hours, start a small business, buy a franchise and every find different ways to make money in your spare time.
But six-figures in 2-5 year only working part-time. That is some of the sweetest words in the English language.
More on this below, but the money is one of the reason we get caught up in bad deals. Either we feel we will save money or we will make money.
5 Bad Deals To Watch Out For
There are more than 5 bad deals out there. The truth is each bad deals can be a good deals, if we can make something of it.
Everyone wants to accomplish goals faster and confidently. We feel if we are part of one of those deals then we can achieve our goals quicker.
The truth is you never get a good deal in short cuts. You need to remember the adage, if it’s to go to be true, it probably is.
Its tax season and you go to your local bank and ask them what you can do with your money, to make some money.
The bank has the answer. Invest with them for long-term. Your money can go into a low, medium or high risk investment. It is up to you.
Your personal banker has your best interest at heart, right? Wrong. The banker is an employee of the bank and is out to make the bank money.
The banker will pull out charts to show you what the market has been doing the last 10 years. He/she will tell you why today is the best time to get in.
Sadly, the banker leads you to believe this is all the information you should use to make your decision.
The unfortunate thing is your banker will not talk about what the market is doing today. He/she will not talk about what may happen in the market over the next ten years.
They do not talk about market changes and they barely talk about how technology impacts the market conditions.
The bad deal for you is, the banker does not understand, that the things that dictate the market in the past are not the same factors influencing the market now.
You can read this article which talks about why the banking system and money needs to be scrapped.
Investing with Friends
For the most part, I believe your friends and family are looking out for your best interests. But there will come a time your friends will tell you they have an amazing idea you need to be a part of.
Unless you find out all the details of the investment, you may be headed down the road of bad deals.
Although I believe you can grow a profitable business with friends, I do not recommend investing money with friends.
Even if you are able invest money you do not need, you may want to consider your relationship. Getting stuck in bad deals or investments with friends, in not how you win friends and influence people.
Years ago, I invested $400 in a business with a friend’s dad. That was my first mistake.
My second mistake was that I did not get a receipt. I just handed $400 cash because I trusted my friend.
Third mistake I make was, I did not know anything about the business. The truth is at the age of 16-17 I really did not know much about the internet and business being done online.
The business investment would to go fund a website that would revolutionize the way people would go and find general contractors.
Because I did not know anything about the investment, I had no control or influence and did not know anyone else who invested, I ultimately lost my money.
Back to how I got sucked in to a networking business. Don’t get me wrong, if I was told the truth that only a small percentage of people make money. Maybe I would have not joined.
This bad deal for me was not so bad in the end.
No, I did not make six-figures in 2-5 years. I am not saying you can’t, just saying I did not.
Yes, I did put in more than 20 hours a week during my 5 years in the business.
I invested thousands of dollars into products and educational material. The education is one place I do not feel I got a bad deal. I had the opportunity to learn many lessons and today day enjoy reading and listening to audio programing.
Although I was not promised riches, the truth about the business from people who understood the business, better than me, would have been appreciated.
No matter the networking marketing business you pursue, the amount of work that it takes to get to the levels of success and retire, is quite a bit.
Bad deals can happen to anyone in relationships. If you are in an unhappy in your relationship the feeling that you have is of being in a bad deal.
Many times, we know when it is time to get out of a bad relationship. We know it is a bad decision to say in it but we can’t allow ourselves to leave.
I have been in relationships where everything starts off great. But soon things change. People begin to change and the words they use change. They become negative and they cause you to become negative also.
Just like if you were in a business relationship, you should consider if it is a good idea to keep the partnership going.
Don’t get caught up in the fighting, the making up and then more fighting. At some point, you should realize you and the other person are not as compatible as you once thought you were.
It is time to break away and find something that is more positive.
The fitness industry is a billion-dollar industry. Companies know with the right marketing message, we, the consumer, will make purchases to improve the way we look and feel.
This is the same reason the beauty industry is a billion-dollar market.
Have you ever been up late night watching television and you flip channels to an infomercial?
Within a few seconds, you have been sucked in to watching it. Maybe you don’t buy the product then and there. You head to the, As Seen on Tv, store.
You try out the product and buy it. It sounds good on the commercial and it seems to work when you try it out for a few moments.
You go home use it a few times and decide to put it away.
The same thing happens when you hear about the next best weight loss product or work out plan, diet plan or gadget available.
We are sucked in to these bad deals all the time because we are looking for the quick fix.
I will promise you one thing. If you are not careful you will find yourself in your fair share of bad deals.
Bad deals are everywhere. You will make bad purchases instore and online. Sometime sales agents will lie to you to get the sale. Other times you will fall for the Russian prince who need to get $20 million out of some foreign country and will give you half if you give him $500 first.
My advice to you is to do your homework and understand what you are buying, investing in and how it will satisfy you long-term goals.
What one thing did you learn from reading this article? Leave a comment below and tell me one bad deal you have been suckered into. I look forward to reading about your experiences.
Connect on Facebook and never miss out on new articles. The secret is to sign up to the email list. You can do this at the bottom of this post and stay connected.
Founder and CEO, Discover Your Life Today
Maveen has built his career in Banking, Insurance, Home and Automobile Sales. Providing exceptional customer service is his passion. Writing is a way to share his knowledge and help change the lives of million of people. Like the Facebook Page to support him.