Manage episode 363274198 series 2032122
While working for yourself can be fulfilling and financially rewarding, it's important to understand that it takes a lot of effort and sacrifice — especially when you're just starting out. Unfortunately, there are scammers aplenty who want to sell you on get-rich-quick schemes that only make them rich at your expense. So how can you tell the difference between legitimate business opportunities and shams perpetrated by shady shysters eager to drain your bank account? This week on Skeptical Sunday, we're joined by Steve Chou — e-commerce entrepreneur, host of The My Wife Quit Her Job Podcast, and author of The Family-First Entrepreneur: How to Achieve Financial Freedom Without Sacrificing What Matters Most — to separate the wheat from the chaff.
On This Week's Skeptical Sunday:
- According to the FTC, Americans were scammed out of $249 million through fake business and job opportunities in just the first three quarters of 2022 — but get-rich-quick schemes really started gaining traction in 2020 as criminals took advantage of people who lost their jobs during the pandemic.
- The real math it takes to build a fortune from creating YouTube videos — and why relying on AI to create content from the ether is an unsustainable "strategy."
- Why buying an impressive-looking "done for you" e-commerce site pre-populated with dropshipping products will likely lose you money in the long run.
- How the astronomical income promised by countless dropshipping automation companies pans out when real-world middlemen and unreliable sources are factored in.
- Why it's essential to research and verify any business opportunity before investing time and money into it — if it sounds too good to be true, it probably is. Real businesses require effort, time, and some sacrifice to gain the momentum needed to make them rewarding.
- And much more!
- Connect with Jordan on Twitter, Instagram, and YouTube. If you want us to tackle something here on Skeptical Sunday, drop Jordan a line at firstname.lastname@example.org and let him know!
- Connect with Steve at his website, Twitter, Instagram, and YouTube, and check out The My Wife Quit Her Job Podcast and The Family-First Entrepreneur: How to Achieve Financial Freedom Without Sacrificing What Matters Most!
Full show notes and resources can be found here: jordanharbinger.com/835