Worst ways to make MONEY ONLINE! ❌ (and BEST WAYS EXPLAINED ☝️)

Harman Singh

20 May 202414:58

Summary

TLDRThe video script discusses the current craze of making money online and warns against common scams targeting those eager to earn. It highlights five trendy yet potentially deceptive methods, such as betting apps, fantasy apps, and prediction gaming apps, which promise easy money but often lead to loss of time, effort, and funds. The speaker emphasizes the importance of building a personal brand and scaling up through an agency model rather than remaining a freelancer. They also advise against getting involved in referral schemes and affiliate marketing without proper understanding and application of the courses or products being promoted. The key takeaway is to focus on valuable skills, real business, and personal branding for sustainable income generation.

Takeaways

😀 The current trend of making money online is very intense and filled with scams targeting those eager to earn money online.
😐 The speaker admits that many of his own videos have promoted the idea of learning video editing, graphic designing, and web development as ways to earn money online.
🚫 The video's topic is about how not to make money online, which is a new and unexplored angle compared to the usual advice.
📺 The speaker encourages viewers to watch the entire video and engage by liking and subscribing if they find it interesting.
💸 There are many scams in the market that exploit people's desire to earn money online by providing misleading guidance and wasting their time, effort, and money.
🎰 The speaker warns against betting apps, fantasy apps, and prediction gaming apps that are trendy but can lead to addiction and financial loss.
🤔 He emphasizes that while these apps claim you can earn a lot of money from home, in reality, the companies and influencers make the profits, not the users.
📈 The speaker mentions various educational programs and courses for improving skills like English and competitive exams, suggesting that investing in genuine learning can be more valuable.
🛠️ He advises against starting solely as a freelancer and instead suggests building a portfolio and credibility first, then scaling up to an agency model with a team.
👨‍🏫 The importance of creating a personal brand around your skills is highlighted, as it can lead to opportunities to teach others and earn more.
📉 The speaker criticizes the idea of making money through referral and survey filling apps, stating that they are a waste of time and energy.

Q & A

What is the main topic of the video?
-The main topic of the video is about how not to earn money online and to avoid common scams and unproductive methods.
Why does the speaker criticize betting, fantasy, and prediction gaming apps?
-The speaker criticizes these apps because they are highly addictive and target people who want to earn money quickly, often resulting in wasted time, effort, and money.
What common promise do these betting and fantasy apps make?
-These apps commonly promise that users can earn a lot of money easily from home.
What does the speaker say about freelancing as a long-term career?
-The speaker suggests that while freelancing can be a good starting point, relying solely on it for a long time can limit earnings potential. Instead, building a personal brand and transitioning to an agency model is recommended.
What is the suggested strategy for freelancers to scale their work?
-The suggested strategy is to start with freelancing to build a portfolio, gain credibility, and then hire other freelancers to form an agency, thus scaling up the business.
Why does the speaker discourage participating in referral and survey schemes?
-The speaker discourages these schemes because they usually offer very little financial reward for a significant amount of time and effort, which could be better spent on learning valuable skills.
What is the speaker’s view on faceless content channels?
-The speaker views faceless content channels as unsustainable for long-term success. He suggests focusing on personal branding and creating valuable content that people can relate to.
What example does the speaker give to explain the importance of personal branding?
-The speaker gives the example of successful educators and influencers who earn more by teaching skills like IAS preparation or software development rather than just performing those skills.
What is the speaker’s opinion on multi-level marketing (MLM) and affiliate marketing schemes?
-The speaker is critical of both MLM and certain affiliate marketing schemes, describing them as unproductive and often exploitative, focusing more on recruiting others rather than providing real value.
What advice does the speaker give for genuinely earning money online?
-The speaker advises focusing on building real skills, creating a personal brand, and offering valuable services or products. He also suggests moving from freelancing to building an agency and educating others once you have established credibility.

Outlines

00:00

🚫 Avoiding Common Online Money-Making Scams

The speaker begins by addressing the saturation of online money-making schemes and warns the audience about the numerous scams targeting those eager to earn money online. They acknowledge the prevalence of videos promoting skills like video editing, graphic design, and web development, but claim that many of these videos repeat the same tired advice. The speaker introduces their topic as a guide on how not to make money online, a unique angle in a market flooded with get-rich-quick schemes. They advise viewers to watch the entire video and engage by commenting, liking, and subscribing. The paragraph also touches on the fantasy apps and prediction gaming apps that are trendy but can lead to wasted time, effort, and money without guarantee of returns.

05:01

🔑 Transitioning from Freelancing to Building a Personal Brand

The speaker discusses the limitations of long-term freelancing without a personal brand, using the example of a video editor trading time for money. They emphasize the importance of building a portfolio and credibility as a freelancer before transitioning to an agency model, which involves delegating work to a team. The speaker also suggests creating a personal brand around one's skills, such as video editing, to establish authority and trust, which can then be leveraged to teach others and earn more, like a teacher helping students become IAS officers. They mention an upcoming detailed video on this topic and encourage viewers to subscribe and turn on notifications for updates.

10:01

🚧 The Pitfalls of Referral Schemes and Building a Sustainable Business

The speaker criticizes referral and survey filling schemes as ineffective ways to make money online, suggesting they waste time and energy for minimal returns. They share personal anecdotes about observing people excessively dedicating time to promoting apps for small referral bonuses. The speaker advocates for investing time in valuable skills like web development, video editing, and freelancing to create an additional income source. They stress the importance of real business efforts, such as studying, attending college, and cracking job interviews, over chasing quick money online. The speaker also addresses the trend of faceless channels on social media, suggesting that creating valuable content is more beneficial than following trends without substance.

Mindmap

Keywords

💡Online Money Making

The term 'Online Money Making' refers to the act of earning income through the internet. In the video's context, it is presented as a highly competitive field where many people are trying to earn money, often through various online platforms and methods. The script mentions several trendy methods like betting apps, fantasy apps, and prediction gaming apps, which are portrayed as potentially deceptive and time-consuming.

💡Scams

Scams are fraudulent schemes designed to make money dishonestly by deceiving people. The video discusses how the online money-making market is filled with scams targeting those who are eager to earn money online. The script warns viewers about the dangers of falling for such scams and losing time, effort, and money in the process.

💡Fantasy Apps

Fantasy Apps are platforms where users create virtual teams based on real players and compete against others, often for cash prizes. The script describes these apps as being heavily advertised and addictive, cautioning that users can end up investing a lot of time and money without significant returns.

💡Prediction Gaming Apps

Prediction Gaming Apps are platforms that allow users to make predictions about the outcomes of events, such as sports matches, and potentially win money based on the accuracy of their predictions. The video script highlights the risks involved, as users may not be informed about the potential loss of their money if their predictions are incorrect.

💡Influencers

Influencers are individuals who have the power to affect the purchasing decisions of others because of their authority and credibility in a specific area. The script mentions that some betting apps and prediction gaming apps are promoted by influencers, who may entice users with the promise of earning money but do not always disclose the potential downsides.

💡Freelancing

Freelancing refers to the act of working as a self-employed contractor or professional, rather than as a part of an organization. The video discusses the potential pitfalls of freelancing, such as the limited number of hours one can work and the capped income that can be earned. It suggests transitioning from freelancing to an agency model for scalability.

💡Personal Branding

Personal Branding is the process of creating a unique image or identity in the public eye for personal or career advancement. The video emphasizes the importance of building a personal brand around one's skills, such as video editing, to establish credibility and authority, which can lead to higher earnings and trust from clients.

💡Referral and Survey Fillings

Referral and Survey Fillings refer to methods where individuals earn money by referring others to use a service or by filling out surveys. The script describes this method as largely ineffective and a waste of time and energy, with little to no substantial benefit in return.

💡Education and Skill Development

Education and Skill Development are highlighted in the video as valuable long-term investments. The script suggests focusing on acquiring valuable skills and pursuing higher education or jobs to progress in life, rather than seeking quick fixes for online money-making.

💡MLM Companies and Affiliate Marketing

MLM Companies, or Multi-Level Marketing Companies, and Affiliate Marketing are business models where individuals earn by selling products or services and by recruiting others to do the same. The video script differentiates between MLM and affiliate marketing, cautioning against the former and advising viewers to focus on building their skills and personal brand for sustainable income.

💡Social Media Growth

Social Media Growth refers to the increase in followers, engagement, and visibility on social platforms. The script touches on the idea of creating valuable content that adds to people's lives, such as motivational and disciplined content, as a strategy for organic growth and building a loyal audience.

Highlights

The craze of making money online has reached its peak, with many people falling for scams targeting those eager to earn money online.

The speaker admits that in 9 out of 10 videos on the topic of online money-making, repetitive advice such as learning video editing, graphic designing, or web development is given.

The topic for the day is about how not to make money online, a unique and new content approach.

The speaker warns about the scams in the market that target people wanting to make money online and waste their time, effort, and money.

The speaker will discuss five trendy methods that people mistakenly believe can make them money online but should not be considered.

The first method discussed is betting apps, fantasy apps, and prediction gaming apps, which are currently trending but can lead to addiction and financial loss.

The speaker mentions that these apps are designed to be addictive, enticing users to invest time and money, ultimately benefiting the companies and influencers, not the users.

The speaker advises against chasing small profits that are not worth the time, effort, and money invested.

The speaker introduces the concept of freelance work and how it should be approached with a long-term perspective rather than just as a means to an end.

Freelancing should be seen as a stepping stone to building a personal brand and eventually scaling up through an agency model.

The speaker emphasizes the importance of building a portfolio and gaining credibility as a freelancer before scaling up.

Another method discussed is the referral and survey filling scams, which are considered a waste of time and energy.

The speaker warns against the mindset of chasing small referral bonuses and the negative impact it can have on one's time and focus.

The importance of acquiring valuable skills such as web development, video editing, or graphics is highlighted as a means to create a sustainable income source.

The speaker encourages focusing on real business and hard work rather than getting swayed by the false promises of easy money online.

The concept of personal branding is introduced as a key to long-term success and value addition in people's lives.

The speaker shares their own experience of building a personal brand and the benefits it has brought in terms of followers and business growth.

The final methods discussed are faceless channels and affiliate marketing, which the speaker advises to approach with caution and a focus on real value.

The speaker emphasizes that true entrepreneurship and business come from creating and selling your own products, not just promoting others' for a commission.

The importance of providing real value and insights through content creation is highlighted, rather than focusing on quick fixes or trends.