There are so many online businesses out there and so many of them are investment programs in which someone will promise you an interest rate for a specified period of time if you invest in his or her program.
Only a few have been successful while so many others have hit the rock with the owners of these investment programs running into debt. Some even run away leaving the investors in agony.
The recent case I saw on the internet was one in which the said business owner promised his clients of 200% interest rate for a month if they invest a minimum of 200 thousand Naira with him. So many people invested in the said business only to hear stories towards the end of the first month.
Reliable sources also had it that the said man went a partying with their money and was later arrested by the police and all that.
In this article, I will be sharing some tips on what to consider before investing in any business even if the business is owned by a company or an individual.
Things to consider before investing in any business
The business should be over 1 year old with testimonies: to be on a safer side, you should inquire and find out if the business has been on for at least one year and have a proven success record before investing in it. It is important to state clearly that we do not in any way encourage Ponzi and other dubious businesses.
In finding out if it has a proven success record, it is important that you avoid checking testimonies on the owner’s website or social media pages. Search online for honest reviews on other sites, and then know whether or not to invest in the said program.
The people or person that owns the business: although the only thing they say is constant is change, it is important that you check if the owners or owner of the business is a trustworthy person. Has he successfully completed businesses like that in the recent past? Does he really have anything he does? If the business fails, is he someone that can pay back the debt? What does he really do with the money invested by people?
You should find out all these before committing your money to anyone for any business. It is or will be unwise for you to invest in a business done by someone who has no knowledge of the business he claims to be doing or to invest in a business that is obvious will fail. Find out this before investing in the business.
The promised profit margin and the time frame: Yes! This is the most important part. From this, you can even detect if the business is legal or purely a scam. How on earth can someone promise you 200% ROI in a space of one month? What does he do with the money that he will get the said ROI? Not only for you but for others that invested in the business.
No genuine business or company will or can ever promise you such ROI in a space of 30 days. It is only found in Ponzi schemes and other cryptocurrency businesses. Assuming the interest rate is around 50% or less, then you can consider the business but not for as large as 100%; if you do, then, not only are you greedy but also ready to lose your money.
You cannot expect to become rich overnight legally! The only way to get rich overnight is to engage in illegal businesses and fraud. Rome was not built in a day we all know and so, beware of the type of investment you make to avoid being duped. Also, no matter how juicy the offer might sound or be, find out about it and you will never regret.
Thanks for your time. Share with friends to save someone today.