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Tuesday, January 17, 2006

How to avoid home business scams

Many people are interested in starting a home business. This has led many to create scams to take advantage of this new market. There are many home business scams that have one goal to steal the prospective business owner's money. Most home business offers seem legit, but it is important to know the major signs of a scam.

The most important point of home business is that potential owners should not approach it as a get rich quick opportunity. A major selling point of scams is to tell victims that they can make millions of dollars without much work and in a short time. The best way to determine if a scam is using this get rich angle is for the business owner to ask themselves "If this is true why isn't everyone doing it?". It is a fact that nobody makes money without hard work and time.

Another big scam sign is a company that asks for money. Most often these companies ask for money to handle processing or administrative fees. The only time a company should ask for money is when they are providing a start up inventory or supplies. Many legitimate direct selling companies ask for a deposit, but it is often refundable and the potential business owner gets the start up supplies they need to start their business. This point can be confusing because sometimes it is okay for the company to ask for money, but the key is that if the potential business owner does not see the exact reason for the money then it is a scam.

Another scam, called a pyramid scheme, is illegal and getting involved in one could ruin the potential business owner's reputation and integrity. Pyramid schemes are where people sign other people up for a fee to join the company. A person makes money off the fee these people pay. The main business is recruiting others and these companies sell no real products. Sometimes pyramid schemes can be confused with affiliate marketing since both offers a chance to make money from signing up recruits, however with affiliate programs there are products or services that are really being sold and recruiting is a secondary source of income.

Getting wrapped up in a scam can do some great harm. Potential owners have lost large amounts of money, wasted precious time, ruined their business name and in rare cases, gotten into legal problems due to scams.

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