How to Spot a Get Rich Quick Scheme 🕵️
What to look out for when
How scam artists get people
1. Appeal to logic (logos)
Fake facts and figures
2. Appeal to emotion (pathos)
Ability to make rational decisions declines the more emotional you become.
3. Create sense of urgency
Promises easy and fast wealth with little effort
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Exaggerated claims about the amount of money you can make in a short period. A crash course in brain surgery makes you a butcher not a scalpel virtuoso.
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Claims of a secret formula or strategy. If someone actually had a secret formula for making money, why would they choose to tell the world all about it? In reality you would just focus on your strategy for making money rather than trying to sell a course teaching other people to make money with your 'secret formula'.
Fake Scarcity / Pressure Tactics
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Creating a sense of urgency such as large discounts that only applies for the next 2 hours, which encourages you to act quickly before the offer is gone.
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Remember that seeing discounts can create happiness in your brain because you are offered the chance to 'save money' compared to the perceived worth of a product. This is what can encourage you to purchase something that is 80% off because you feel that you are getting a 'bargain'.
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Legitimate investments and business opportunities do not tend to rely on such tactics
Social Proof
Wishful identification
Play on People's Dreams
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Ads often ask questions such as do you want to quit your 9 to 5 job? Or do you want to make money whilst you sleep?
Track Record
Finally take a look at yourself
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Do you want to believe in a course because
Start with the premise that it is a scam and disprove it.
The old age adage, if something sounds too good to be true, it probably is.
Remember, financial success generally requires effort, time, and careful planning. If someone is promising extraordinary wealth with minimal investment or effort, it's likely a get-rich-quick scheme. Always be skeptical, conduct thorough research, and seek advice from trusted financial professionals before committing your money to any investment or business opportunity.