by Andrew on April 20, 2009
With the economy affecting a lot of people worldwide right now, a lot of people are turning to the internet to make a few extra bucks. Personally I think that most of these people will not find what they are looking for. Contrary to popular belief, the internet is not some magical money making machine that will start sending you checks in the mail as soon as you pay $10 for the current best selling eBook.
The internet has been around since the early 90’s and yet it’s potential is still vastly untapped. That’s what money promising eBooks would have you believe. While this is in many ways not too far from the truth, it’s definitely an overstatement to claim that just anybody can retire with unbelievable monthly checks from an internet business that requires mere hours a week or work or less. It’s simply not the case.
I’ve looked into a lot of eBooks out there. Not because I was interested for myself necessarily, but moreso because I was interested in the very idea of selling eBooks for profit. A lot of these books make earning money online sound really easy. Honestly it really can be fairly easy. Easy is a baited term though. Easy as in “You can be lazy and still make money?” or easy as in “The work is easy, but you have to be dedicated and committed in order to see a profit?”
When somebody promises you thousands of dollars a month for little to no work at all, think about it from a few perspectives. Who would pay somebody thousands of dollars a month for doing next to nothing? Nobody right? Either nobody, or somebody who is really dumb with zero business savvy. Are you still with me? How about taking it a step further. Would somebody who is really dumb with zero business savvy even have hundreds of thousands of millions of dollars to pay people to sit around and watch paint dry? Unless they inherrited a fortune somehow, probably not. So, it’s safe to say that “easy” might not necessarily mean “no work”. Instead, you might just be looking at a lot of very repetitive work that just so happens to be easy. Can you make money from the internet? You better believe it. Can you retire from the internet with little to no work on your part? Perhaps, but not simply because you buy an eBook.
by Andrew on April 12, 2009
I know it’s been a while since my last update. Basically I have been swamped and this blog got put on the back burner a few times. Anyway, I’m getting back into blogging and the first thing I wanted to do with this blog is narrow its focus a bit. I’ll keep the money and investment commentary going here but the web admin topics will be posted on my new blog in the future.
As you probably know (if you’ve read my blog in the past), I run a web development and marketing company NURV. I’m launching a sister site/blog titled “The Nurv” where I’ll comment on various aspects of the web development and marketing industries. Check out my new blog and make sure to bookmark it. I’ll also be updating Money Complex again shortly so keep an eye out here as well.
by Andrew on November 26, 2007
So I sold a domain a few weeks ago for $40 on a popular online domain marketplace. Anyway, I contacted the winning bidder several times in an attempt to get him to send the PayPal money for the domain. Sure enough, after about a week I get the money. All good so far. Anyway, I then emailed this person again and asked for his account number and transfer authorization code so I could push the domain to him. Free push, no strings attached, just part of the sale. No answer. I’ve now tried about 10 times through PM and email combined and have not heard back. I even looked up some of his domains through WHOIS and emailed him at those addresses. No answer. So to make a long story short, I have his $40 and I’m sitting here twiddling my thumbs while I wait for him to get back to me. I guess this is better than waiting for payment, or even worse, paying and never getting the domain I bought, but knowing how annoying that is, I’m confused as to why he hasn’t contacted me asking for the domain. I know I would be all over it, but, I guess it is only $40. Either way I’m planning to push it to him once he contacts me with the info. I just found this situation kind of funny because he paid for it already.
by Andrew on November 15, 2007
So yes, I’ve dropped the ball on the “daily updates”. Became overwhelmingly busy with some other things and sort of stopped blogging here altogether. Somehow readership has picked up though while I was gone, and after getting several emails from people wondering what had happened I have decided to be a bit more active on this blog once again. I can’t say for sure whether it will be a daily thing or not, but I’ll certainly try to get more than one blog post in every three months like this last break has been!
So, hopefully everybody has been well and thanks to the few who have continued to read this blog even though the latest post has been the same for quite a while now. Seems like a few of you should have emailed me sooner but hey I’m back for the time being and that’s all that matters.
by Andrew on July 23, 2007
If you have a new idea that you think will go over big, go for it. I know two people who are just now starting new businesses due to ideas they have had recently. Both of them have received large amounts of funding for their new projects. One of them is getting more as we speak. If you have a new idea, it’s best to strike while the iron is hot. Go for it while it’s still fresh in your mind and before you talk yourself out of it. Otherwise you could be missing out on a great thing.
I have some new ideas myself that I will be developing soon. I’ve just thought of these recently and am hoping to raise the necessary cash soon to get things going. The trick is to lay out everything on paper and make sure everything makes sense. If you are looking to bring investors on board then it is especially important to make sure everything is simple and straight forward. I’d recommend NOT using investors unless your project requires more money than you are able to come up with on your own.
by Andrew on July 22, 2007
As you probably know, the final installment of the ever popular Harry Potter book series has come out last Friday. I was reading an interesting article on Business Week about the money behind the franchise and who is profiting. Apparently the lunch box and school supply market hasn’t been able to cash in successfully on the series. It seems that the only person who has really hit the jackpot was J.K. Rowling, the author of the books. I’m sure Scholastic isn’t too far behind her in profits, but when it comes to cashing in, according to Business Week, things haven’t been as easy as people had expected.
The movies have done well enough that Universal Studios will soon be dropping close to a half a billion dollars to create the “Wizarding World of Harry Potter” with Warner Bros by the end of 2009. Disney apparently lost out in the bidding for the rights to build such an attraction. If you ask me this seems like it will be enough of a draw that Disney should have made sure they won it. Ooops.
Harry Potter has certainly been a great example of pop culture success during the last several years. Regardless of whether or not lunch boxes and toys are making money, the name has easily become more than just a household name by now. It has become a part of many people’s daily conversations. J.K. Rowling could easily have retired after just the first book. Now with seven full books out it’s safe to say that she will be doing just fine. Maybe she will move on to write other fantasy based books. Only time will tell.
by Andrew on July 21, 2007
The US Federal Minimum Wage is set to go from $5.15 to $5.85 an hour this coming Tuesday. According to statistics from the Labor Dept, there were around 1.7 million people earning $5.15 or lower per hour in 2006.
At the new rate of $5.85 an hour, a full time employee would make around $10,000 or less per year after taxes. The federal poverty level for singles is also just around $10,000 a year. Some people are arguing that the minimum wage should be even higher, due to the fact that it seems unfair for a full time worker to be classified under poverty. The problem with this argument is that many businesses will simply compensate for the extra hourly expenses by raising their prices or cutting out jobs Restaurants will have higher menu prices, while grocery stores will have less people bagging groceries.
The change won’t effect every state, however. Several states have already set higher minimum wage standards. The Federal increase simply forces the states who were still at $5.15 to get with the times.
by Andrew on July 20, 2007
Last night Google shares (GOOG) dropped from $548.59 per share to $502.47 a share, a drop valued at around $13 billion in total value. $13 Billion is enough to buy some very big companies. It’s a shame to see this happen, but, it’s also good to see that Google isn’t perfect. At least this will encourage some competition to jump in while Google is down. Interestingly enough, Google stock opened this morning at $511.90, up a bit from the low $502 early morning and late last night.
It’s safe to say that if Google goes back over $548.59 that anybody who gets in now is bound to make some cash. The only problem is that with a drop of $13 billion, a lot of people are going to be hesitant to jump on board right away. Google has been purchasing several companies lately including Doubleclick, which has earned them a court date in Washington. On top of that, several Google AdSense publishers have reported that their AdSense checks have been bouncing lately. I don’t know what would have caused that, but, I doubt Google is going out of business anytime soon. At the very least their stock value is simply balancing itself out. A lot of people have considered it to be very saturated over the past few years. It seems that every once in a while it takes a drop like this. So far it has managed to rebound each time.
by Andrew on July 19, 2007
While Microsoft lost money on the XBOX 360 due to recalls and warranty claims, they have managed to do quite well all things considered. Their profit for Q4 is up 7% with Office and Vista doing well. While Vista didn’t do as well as Microsoft had hoped, it still is selling and after the initial bugs were sorted, consumers felt more comfortable with the new operating system.
Microsoft also released the Zune, an iPod clone that has also been doing ok. Overall, Microsoft continues to do best when it comes to software. Office is doing exceptionally well and has been getting very positive reviews. I’m not sure it’s worth buying the new Office every time a new version is released, but, either way, it seems that a good amount of people seem to agree that Microsoft Office is the best business software suite on the market.
by Andrew on July 18, 2007
When you are a multi billion dollar company and one day you decide that you want to make and sell a videogame console, you can pretty much do it. You can do almost anything you want when you are a multi billion dollar company. This is very true for XBOX and Playstation. Both Microsoft AND Sony have been selling their newest videogame systems at a loss. Playstation’s $600 price tag apparently does not include any profit for Sony, and the XBOX brand has never turned a profit according to the Wall Street Journal.
The funny thing is that Nintendo was considered to be the underdog throughout this current generation of gaming. Instead they are the only ones to have made any money with their “Wii” console. The funny thing is that both Microsoft and Sony can both afford to run their videogame brands at complete losses year after year due to the overwhelming success of their products in other markets. I don’t think we will see XBOX of Playstation disappearing from the map anytime soon. If anything they are both likely on the verge of becoming very profitable. You’d think they would be making money already but I guess being innovative is more profitable than having the best graphics. That’s why the Nintendo Wii took and is continuing to take the market by storm.