Would you count this as a business?

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Would you count this as a business?

Postby iwantthatnow on Sat Jan 10, 2009 11:19 am

Hey all, ive just stumbled across an opportunity to get £££s worth of items for free, which then can be sold on for 100% profit. The opportunity is guaranteed but i was wondering if you think it actually counts as a "business". It requires you to refer people to a certain site and complete a free task. Now the reason i am counting this as a business is because i have set up a good website and am spending about 4+ hours a night concentrating on getting referals. Ive managed to get 30 people in my 1st night and another 20 odd the second night. If things carry on like this i should be getting tons of stuff very soon. I would like your comments on this please.

I know that this works as ive spoken to people that have received stuff. Its not silly stuff either. You get to choose what you want and they tell you how many refers you need. There are things like TVs, Nintendo Wii, Nintendo DS, iPhones and 100s more. You can even request an item that isnt listed and they work out how many you need. this is great for keeping or like i say selling on. Think how much these things go for on auction sites or even in your local paper.
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Re: Would you count this as a business?

Postby Kit on Sun Jan 11, 2009 9:43 am

I guess it could be called a business however, I'm a bit skeptical. NOTHING is ever really free. Otherwise, it wouldn't be a profitable business and profit is the reason for having a "business." If it sounds too good to be true...you know the rest.

If you are new to business, I would suggest that you focus your efforts elsewhere. That being said, if it's what you really want to do, go for it.
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Re: Would you count this as a business?

Postby iwantthatnow on Sun Jan 11, 2009 10:03 am

Yeah i do know it sounds too good to be true, but ive actually spoken to people who have received their free stuff. there is also videos from the bbc and cnn saying that it works and they explain how it does actually work. its all about advertising.
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Re: Would you count this as a business?

Postby Mel on Mon Jan 12, 2009 8:57 am

I think it sounds like an awful lot of work for *if* I get enough people to sign up and *if* it can in turn be sold. Also, eventually, you'll work a lot harder to get people to sign up because you'll run out of 'easy referrals' and then will have to concentrate on paid advertising and trying to reach people that other people haven't already reached. There are way better ways to make money than this.

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Re: Would you count this as a business?

Postby lindastacy on Mon Jan 12, 2009 10:45 am

This sounds very similar to all the other the "get paid to ______" sites out there (get paid to read advertisements, surf, etc.). Personally, I would consider it more like a hobby or fun thing to do in your spare time and not a business at all. Well, let me rephrase that... it's a business for the site that's making the money off of what you're doing, but for the end user like you, it's a way to get a gift or two or earn a little pin money. I don't believe it's something that can be built up to a long term, consistently earning business.

For the most part, these sites do send what they promise they'll send. And if it's something that you enjoy doing, go for it. But please really understand what you're doing and please recruit others with honest, complete disclosure. Carefully consider how much time you're investing and what kind of return you're getting for that time. (What are you really earning per hour?)

And I hope you've carefully considered whether or not you'll get a return on the £5 you're giving people who sign up under you. You could end up spending far more than you ever earn in gifts.

And keep in mind that many of the "free" offers aren't fee at all.

1 - "Requires you to purchase books for FREE, you just pay £1.99 for P&P." In my opinion, it's not free if you're spending money (yes, I know it's just for shipping, but you're laying out cash).
2 - "....offers that require you to apply for either a HSBC Bank Account and the other one is for an American Express Card." I wonder if there's a minimum deposit required for the bank account or are there monthly fees (many banks have them now if you don't keep a good sized balance on your account)? And what about an annual fee for the credit card?
3 - "There are many bingo offers which require you fo deposit from £5 into their account and play through it. I found this one good, because its only £5 and you could get the chance to win big money...." Yes, and what if you don't win at all?

If you aren't careful, with the required cash layout and the money you're giving away you could end up in the hole. Not to mention that your time is valuable.... you should consider that an expense as well.

The other thing about this type of activity is that it requires you to continually seek out new customers (there's no repeat business) and there is no residual income. Once you stop completing offers and actively promoting the program, your "earnings" will drop significantly.

Anyway... all of that is to say... please be very careful and really examine what you're doing, what it's costing you, and what the actual potential is. I believe your time could be better spent on a more business-like Internet business.
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Re: Would you count this as a business?

Postby LorettaOliver on Mon Jan 12, 2009 7:12 pm

I'm late to the party, but I agree with what the other gals have already said when I look at this. Don't think I could have said it better.
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Re: Would you count this as a business?

Postby Kit on Tue Jan 13, 2009 7:52 am

LorettaOliver wrote:I'm late to the party.


There is no late when it's a 24/7 party. ;)
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Re: Would you count this as a business?

Postby Marilyn on Wed Jan 14, 2009 8:34 am

Is it wrong that all I can say is the same thing I always say?

I don't know..

But essentially, if you don't fully understand how the company providing the offer to you makes their money (AND ABSOLUTELY NOT BY TAKING YOURS) then you shouldn't waste your time. If it seems too good to be true, it is. If it doesn't make sense, it doesn't work.

Do your research before ever investing your time on any of these offers.
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