Can Instant Traffic Mastery Really Turn You Into a Master?

Written By:
Published On:

Last week I was talking about a product for generating traffic that turned out to be less than ideal for generating traffic.

This week’s product is also about how to get more visitors to your site, and I’m hoping it stays on topic and is at least vaguely useful. The product in question is called Instant Traffic Mastery by  Jonathan Teng & Venkata Ramana.

The Pitch

The sales page heavily focuses on both scarcity and how much of a bargain this product allegedly is. I understand why saying the product has a larger value and is being discounted helps improve sales, but why do marketers insist on using ridiculous figures? Apparently this product is worth over $997 dollars but he is only going to charge me $9.95? Who falls for this rubbish?

The scarcity tactic of saying it is only available for 7 days is combined with a potential price rise to squeeze you into a panic purchase.

As well as that are the usual heavy handed highlighting and bolded text, and proof of sales that may or may not be related to the effectiveness of the product (usually it’s a not).

Purchasing Instant Traffic Mastery

As mentioned, the product is only $9.95 but this is the edge of a sales funnel with plenty of upsells being sent your way once you head down the rabbit hole.

Instant Traffic Mastery Sales Funnel

The first upsell is on a dime sale (it increases in price after every sale) and was $18 bucks when I saw it. The upsell is for a “done for you” traffic pack, which is basically a ready-made sales funnel.

The second upsell has a longer sales page, probably because it costs $67 dollars and is for a package of PLR content (articles, graphics, etc). PLR is something I always suggest avoiding if possible. While the graphics might be useful the content supplied will all need to be re-written anyway.

Next up is a “lite” version of the above PLR package at a mere $37.

The last upsell is something I haven’t seen in a while, and that is access to a membership site. The cost is OK in comparison to other membership sites, ($17 per month) but the problem with this is that it doesn’t teach you anything it instead provides PLR content twice a month… I wouldn’t touch this with a barge pole personally.

The Product

After navigating the swirling mess of sales funnel I finally arrived at the product membership page and I was slightly surprised.

Looking at the content list of the product it seems like they have packed a lot of information in here, with 50 separate items ranging from setting up a blog, through social media, building relationships, video marketing and more.

Quantity does not necessarily mean quality though.

Each item in the content list is a video, and each one is roughly 5 minutes long on average.

The videos all seem to be PLR themselves (I can’t be 100% sure but it’s my gut feeling and fits well with all the upsells) as they are labelled “50 targeted traffic methods for online business” rather than Instant Traffic Mastery.

Instant Traffic Mastery Video Example

PLR aside, the training is quite reasonable though it is obviously brief in its content.

The training covers a wide variety of traffic generation methods, some of them quite old school such as using forums, but the narrator is to the point about how effective/speedy they are; he isn’t trying to spin anything.

The traffic methods may not be suitable for pure internet marketers, as some methods such as press releases and getting into the local press just won’t work when your site promotes vacuum cleaners on Amazon.

As mentioned the content is quite brief. If we take the Pinterest and Others video, it’s 2 and a half minutes long and basically tells you that Pinterest uses images and videos and that you can add links, and that Instagram and Vine are options too.

On that note, the videos are at least a year or two old as they suggest Vine is really new and you can become an early adopter in your niche.

The Bottom Line

Instant Traffic Mastery is not a scam as such, but it’s not something I would generally recommend.

The content you get is quite wide and possibly informative, but it is brief.

If you are an experienced marketer you probably won’t get much out of this, though if you are new to online marketing, then there is probably something you can pick up from this.

Really though the information is quite basic: you are paying for an overview and for it to be collected in one spot rather than spending time trawling Google for information.

Can Instant Cash Generator Energize Your Bank Account?

Written By:
Published On:

The first thing that struck me about The Instant Cash Generator was a lie.

It said that the price will jump to $47 in 0 seconds, yet I still purchased it for under $10 bucks.

While some people may think that I lucked out with it, to me it screams liar, and that is never a good first impression!

This product states that it will teach you how to make money online in less than one hour, with no skills needed, so let’s see if the lies continue or if it is in fact worthy of your time and money.

the instant cash generator lies

Well that was a fail…

The Pitch

The mistrust aside, the sales pitch is classic internet marketing: lots of bold statements in bright text with highlights, unprovable proof of earnings and some testimonials which may actually be partly real or might just be his buddies.

Purchasing The Instant Cash Generator

As mentioned above, what should have been a  $47 product was still purchasable at $9.95. The affiliate page states that this is on a 100% commission (so a loss leader) and that there are two upsells.

I never saw an upsell though.

the instant cash generator funnel

What upsells?

The Product

The members’ area is a one page affair with a link to download the product. Be wary if you are on a mobile device or a limited data plan as the download is half a gigabyte (565mb)!

I liked the fact that I get to download the videos instead of being tied to going back to a site again and again, but it is an unexpectedly hefty download.

The product also seems to be a re-launch, so it might be an older method than you would think (the zipped files kindly told me this!).

the instant cash generator relaunch

Inside the zip file you get the following:

  • Bonuses: 4 e-books and a Swiftly task. According to the sales page I shouldn’t have got these either.
  • A resource list: a one page Word document with basic websites like Fiverr.com
  • 9 videos: comprising of the training

The training videos are all quite short and bite sized, ranging between 1 and 5 minutes long.

The basic premise of the product is to sell services; the author calls this Service Brokering.

The idea is that you contact likely leads such as businesses and sell them a service such as logo design. You sell then turn around to another service such as Fiverr.com and get them to make the logo for a much cheaper price than you sell it for.

the instant cash generator service brokering

Video 1

This is a polished, short video that introduces the concept of brokering.

Video 2

The second video showcases websites where you can outsource people to make the final product that you are selling (logo, website, SEO service, writing, etc).

In fact this video only covers finding outsourcers on Craiglist

Video 3

This section covers finding people to do work for you on Elance.

Video 4

This section covers finding people to do work for you on 99designs.

Video 5

This section covers finding people to do work for you on Fiverr.

Video 6

Video 6 covers how to find buyers or customers via Craigslist. While this in itself seems simplistic, the narrator does let you know about a nice little website that will search Craigslist for you, as Craigslist’s own search system is infuriating.

Video 7

Another simplistic video, this time on how to find buyers on Reddit. I have to say using Reddit is a nice touch I wouldn’t have though to f that, but otherwise the video was basic.

Video 8

The penultimate video also made my eyebrows rise. It covers finding potential buyers on Skype, which is another place I would never have looked for customers.

Video 9

Here you will earn how to make a website! Well, no. You will earn how to buy hosting and a domain. Then you will get told to go buy a Themeforest theme. Overall this was a really poor training video, and will leave many newbies floundering with a domain and hosting but no idea how to even set up a basic website.

The videos are most definitely lifted from previous trainings, for example video 9 in this series is referred to as video 4 by the narrator.

That aside, the videos are quite high quality, both audio and visual. The narrator however is doing the training on the fly it seems, so often stumbles over topics and has to redo things.

Because of that the actual training quality is diminished.

The Bottom Line

Is The Instant Cash Generator a scam? No, but it isn’t great either. While the quality of the videos is high, the quality of the training is poor.

He could have combined several videos and reduced their content (limited as it is) dramatically and added in more information about how to create a website, or how best to word an email to a potential client.

The idea of the product is certainly nothing new, but I did like his choice of sites to find potential customers.

My main concern with this type of marketing is quality. If you sell a $200 dollar logo but you pay $25 bucks for it, it will be crap. As the middleman you will take the flak for that.

It will take time, and money, to find reliable and quality outsourcers so it is likely that a bunch of the first sales you make will be at cost or even a loss.

After finding some decent people, then yes this could work. Just expect to have to invest in other training or purchases (website design, copy writing and email writing, testing outsourcers, etc), especially if you are new to online marketing.

How to Create a Sell Sheet that Sells Your Invention

Written By:
Last Updated:

Last Monday’s post described how you can generate a passive income by licensing your invention ideas to companies and other licensees. The key to getting potential licensees interested in your invention idea is to create a spectacular sell sheet. What is a sell sheet and how do you create one? Read on.

Sell sheet anatomy and physiology

If you have an invention or just an invention idea, you need a sell sheet to market that invention to potential developers and manufacturers. The sell sheet is a marketing piece that promotes your invention in a one page ad format by describing the product, its features and benefits, and whom the product can be purchased from. A sell sheet is supposed to take no more than a minute to look over and understand, so it needs to be brief and to the point.

There are sell sheets for companies, hospitals, books, kitchen gadgets, and software programs. What does a typical sell sheet look like?

Presentation1

At its basic level, the sell sheet contains four areas, which are the product description, photo(s)/diagram(s), features/benefits, and the inventor contact information. These areas are shown in the above generic sell sheet, but their exact locations are not static and can be strewn about almost anywhere.

While there is a section for all the features/benefits of an invention idea, there should also be a separate and overarching benefits statement. This statement should be no longer than a single line and should succinctly pitch your idea to your prospects.

Finally, the sell sheet should also contain either a “Patent Pending” statement or patent number.

For example, the Flipside Rulers product shown below essentially flips the product photo/diagram with its features/benefits, and places the description below everything else. This sell sheet also provides the single line benefits statement, “The Most Accurate Reversible Ruler on the Market!”

ruler

 

Why do you need a sell sheet?

You might be thinking to yourself, I already have a great invention. Why do I need to create a sell sheet?

Because, in brief, a sell sheet is much cheaper and easier to create than a physical prototype of your invention idea. The sell sheet effectively combines words and images into a kind of virtual prototype of your product, enabling you to submit that idea quickly and easily to potential licensees.

Even better, whereas in the past you’d be sending out numerous glossy (i.e., expensive) photocopies of your sell sheet, nowadays you can just email your prospects with the sell sheet in an enclosed attachment. You can even set up a website that describes your invention idea, dedicating one page of that website to your sell sheet. Then, all you need to do is provide your prospects with that web page address.

The sell sheet gives prospects a good enough idea about your invention…but that’s as far as it should go. Your sell sheet should provide only enough information to pique reader interest, not include specifics on every individual nut and bolt. The reason for this vagueness is pretty simple- the more a prospect knows about the invention, the more likely it is that he’ll find something to dislike and/or find confusing. If this happens while your invention idea is still being considered, there is a high likelihood that it will be rejected.

However, by sticking to the basics and emphasizing your single line benefits statement (mentioned in Monday’s post), you allow your potential licensee to fit your invention idea into the scope of her existing product line and manufacturing processes.

How to create a killer sell sheet

If you have a software program such as Corel Paintshop or Adobe Photoshop/InDesign, you won’t have much trouble creating a winning sell sheet. However, these programs don’t come cheap, so a better alternative might be to outsource your sell sheet to a freelancer/contractor. Where can you find one?

Sites like eLance, Freelancer.com, Guru.com and oDesk are filled with reasonably priced freelancers who can make several different iterations of your invention idea and save you the headache and expense of learning a program like InDesign or SolidWorks (a CAD program).

You might also consider working with a local community college or a design/trade school to produce more complex drawings or scale models of your invention idea. In such cases, tapping the instructor and asking if some of her students would be able to help realize your invention idea can make for a great classroom exercise, plus a little bit of money for the student.

Just make sure that you have your freelancer or student sign a non-disclosure agreement first before you send him any work. Also, because your freelancer or student may make some changes to your prototype while “fleshing it out,” it’s a good idea to have him sign a work-for-hire agreement that includes language about you being the sole owner of your invention idea. This excludes the freelancer or student from later claiming coinventor status.

What’s next?

After you have the sell sheet generated, it’s time to start soliciting companies and individuals with whom you could see working and actually building your invention. If you spark their interest, you can offer to send them your sell sheet, plus your business card and a cover letter. Within that cover letter, you introduce yourself and your invention, remind your prospect of how and when the two of you met or contacted each other, and note your invention’s major benefit.

It goes (almost) without saying that you should never send unsolicited materials to a prospect, even if you deem that her a perfect match for your idea. Without a proper introduction and invitation, your unsolicited materials will simply get tossed in the trash.

If you get a “no thanks” after sending out your materials, try to find out why your idea was rejected. It will be immensely useful for you as you hone your idea and decide whether to take it to a different company or market segment.

Most importantly, do not become discouraged if your first few attempts at contacting and finding potential licensees doesn’t work out or produces only rejections. It takes time and continued effort to place an invention idea with an appropriate company or manufacturer. But once you get the green light, you will find the process infinitely easier to repeat, leading to a series of licensed invention ideas that generate a steady passive income for you.

How to Make Money by Licensing Your Invention Ideas

Written By:
Published On:

Do you have an invention idea, or even several invention ideas, that have just been sitting on the proverbial back burner? Are you worried about the cost involved with bringing your invention ideas to marketable reality?

Well, fear no more: You don’t need an expensive patent or a manufacturing plant to make money from your invention idea(s). You don’t even need a prototype. In fact, all you need is a good idea- and someone else to do the work for you.

How can you get someone else to do your work?

It’s all about licensing your invention idea. When you license your idea, someone else takes your idea and undergoes the risks of developing, manufacturing, pricing, storing and marketing the product. You, as the inventor of the product, simply collect a royalty from every sale. Typically, product royalty is 3-5%. This may not sound like much, but if you start collecting royalties from several products, the money can quickly add up. With a little bit of time, your royalties can even outpace your regular paycheck.

How to start licensing your invention

Start with a problem.

Inventions all start with a problem. If that problem is commonplace enough, the invention will experience a high enough demand to be profitable. In many cases, the problem need not be a major one- for example, consider the late night TV infomercial item, The Windshield Wonder(tm), which cleans windshields from the inside of the car. Most car owners complain about not being able to effectively clean the inside of their windshields- this item solves the issue.

Find out if similar products exist.

If your invention is good enough, there will already be similar products on the market. That’s right, your invention item should not be so unique that it can’t be located anywhere else. If it is all alone in its market niche, that brings up the possibility that your invention is solving a very rare problem. Without mass appeal, your invention won’t sell, or at least not often enough to make you a profit.

Should you find similarly-themed products on the store shelf, take stock of how they are displayed and marketed. How much do the items cost? Also, be sure to write down the names of the companies that are selling these items; these are the companies you will be contacting later.

Search the USPTO.

It’s possible that your invention idea may already have been invented, manufactured and even marketed. To find out if this is the case, scour the U.S. Patent and Trademark Office before you go any further.

It’s quite possible that a patent for the exact same item that you invented is already in existence. Before you get discouraged, find out what exactly the patent covers. It might be that what you’re looking at is a design patent, where the inventor changed the decorative appearance or configuration of the item rather than its functionality.  Otherwise, you might have a utility patent, wherein a manufacturing process or coding program is described but not the look, shape or configuration of the finished product.

In brief, find out if your exact idea has been filed with the USPTO. If it hasn’t, then you are ready to go on to the next step.

File a provisional patent application (PPA).

Protect your invention idea by filing a provisional patent application (PPA) with the USPTO. The PPA is quick to fill out, does not require the help of an attorney, and it costs only $110 to file. You don’t even need formal documentation; a few simple drawings or photographs of the expected prototype or mock-up will do.

A PPA enables you to state that your invention is “Patent Pending,” which goes a long way towards keeping competitors at bay. Furthermore, the PPA provides the same legal protections as a regular ol’ patent- and for significantly less money and waiting time.

Find out how to manufacture your idea.

Once you’ve filed the PPA, it’s time to find out just how much money it will cost, and what methods must be used, to manufacture your idea. You’ll also need to understand your idea’s technical hurdles and how to overcome them. To this end, you should contact different contract manufacturers that produce items similar in scope to your own product idea and ask them how feasible it would be to realize your particular invention.

You can find contract manufacturers through trade associations. These associations exist solely to put customers like you in touch with vendors and other businesses, so don’t be shy about asking for help and obtaining contact information for at least four or five vendors.

How do you get contract manufacturers to do the grunt work of estimating your manufacturing costs? You can ask to speak to one of their sales reps, then ask her how much it will cost to produce 1,000, 10,000 or even 100,000 units of your invention idea. By creating a sales inquiry and not just a random request for information, you get the sales rep thinking that this could be a huge sale (i.e., commission) for her. This makes that salesperson much more inclined to help you out.

Generate a Nondisclosure Agreement (NDA).

Before you call your contract manufacturers, you should create a nondisclosure agreement (NDA) and have it ready to go when the person on the other end of the line asks for a drawing of or additional details pertaining to your invention idea. NDAs are easy to generate and can be found on a site like Docracy. The basic NDA contains legal language that protects your invention idea from being disclosed to third parties. The document also allows you to take legal action if there is an information leak.

A decent NDA will contain the following four provisions:

  1. All parties agree not to disclose each other’s confidential information.
  2. All parties agree not to use each other’s confidential information without providing compensation.
  3. All parties agree to return all documents, prototypes and information in case no agreement is reached regarding the invention idea.
  4. All parties agree that any information already known to and used by the receiving party is not deemed confidential.

Your NDA should first be agreed to and signed before you disclose any details pertaining to your invention idea. If anyone refuses to sign the NDA, do not disclose your idea to that entity!*

Generate your sell sheet.

Now that you have your PPA and manufacturing information in hand, it’s time to organize all your invention information into a sell sheet. The sell sheet is a one page ad that describes the main benefits of your invention, some diagrams or drawings of that invention, and your contact information. Don’t forget to note that you have a “Patent Pending” on your invention.

You needn’t be a marketer or graphic designer to create a winning sell sheet. Sites like eLance, Guru.com and Freelancer.com provide you with reasonably priced professionals who can take your invention idea and transform it into a detailed illustration. Just remember to have your hired freelancer sign the NDA before you relay any invention information to him.

More information on how you can generate a killer sell sheet will be provided in my upcoming post this Thursday.

Make some inquiries.

Now it’s time to peddle your invention idea to those companies that you first looked up when first assessing the feasibility of your invention idea. When making these sales calls, you can make a cold call, if you’re comfortable with that approach. However, if you don’t like cold calls, there’s no rule about cold calls being the only way to conduct business.

To this end, you can contact candidate companies through LinkedIn, for example. Using LinkedIn, you can find the exact person within the organization that would be your best advocate for licensing your invention. Other online sites include Hoovers, InfoUSA and Zoom Info. In most cases, that ideal person is the product manager. If such a person cannot be located, your other bet is the marketing manager or salesperson.

What should you say or write once you reach your person of interest? Rather than introducing yourself as an inventor, which often conjures up images of wacky and impractical dreamers, state that you are a product developer looking to submit a product idea to that particular company. Then, assuming you aren’t interrupted, use a single sentence to state the exact benefit of your product.

What is a good single sentence statement about your invention? Here are some examples:

For a household products company: “I have a new product that safely whitens laundry without damaging it.”

For an office supply company: “My chairs are ergonomic and cost 90% less to produce than most standard office chairs.”

For a tools manufacturer: “My table saw has a safety shut-off device activated by human tissue .”

Offer more product information.

Close your call or letter by asking if you can send additional product information. In most cases, managers and salespeople won’t object to obtaining a simple email or letter containing your sell sheet; in the worst case scenario, your literature can be easily deleted or thrown out. However, should your sell sheet spark someone’s interest, you might just have yourself a licensee.

Any potential licensing company worth its salt will probably ask that you show up in person to provide a technical presentation of your product and its benefits. Thus, you will need to prepare some slides outlining your invention and all of its benefits. You might even need to throw in a few technical details in the form of charts and graphs.

If you have a friend or family member who is a good orator, don’t hesitate to ask her about coming with you and helping to explain the product and its purpose. Sometimes, it helps to have a “product team” with you during your technical presentation as a show of group collaboration and support- and it doesn’t matter if this team only consists of your Mom, spouse or high school buddy.

Seal the deal- with an attorney.

You might be offered a licensing deal right on the spot following your presentation. However, before you sign the dotted line, get yourself a licensing attorney who knows the fine details of this business process. Let her negotiate the terms for you, especially if you’ve never before negotiated with a company regarding licensing.

Don’t be shy with your licensing company. Ask your contact for sales projections for your invention and the wholesale item price that the company intends to charge. Also, find out if this company wants an exclusive or non-exclusive license on your invention. With an exclusive license, you won’t be able to license your invention idea out to anyone else for a specified amount of time; however, with a non-exclusive license, you’ll be able to query other companies and make licensing deals with them too.

The caveats to each of these license types are that exclusive licenses pay you a higher royalty, while the non-exclusive licenses offer a lower payout.

Get paid!

Once a company has become your licensee, start expecting  your royalty checks to arrive…in the near future. It could still take some time (think months to years) before your product has been developed, manufactured and sold to finally generate that passive income for you. However, if you can licence a few invention ideas each year and make 3-5% in royalties from them, you’ll be well on your way to earning a passive income.

*Your NDA may not be signed automatically if your potential licensee objects to some of the document’s clauses and wishes to modify them so the manufacturing company has better flexibility to create and market your invention. In such cases, you should have your licensing attorney look over the company’s proposed changes before signing the modified NDA.

How to Earn Extra Money as a Voice Over Artist

Written By:
Published On:

Did you engage in theater productions or take acting lessons in high school or college? Do you like to make announcements, toasts or give entire speeches? If yes, then you might be perfectly suited to making extra money as a voice over artist (or voice over actor).

What is a voice over artist?

If you’ve ever listened to a book on tape, a late night product commercial, or a business radio announcement, you’ve probably heard voice over actors speaking and not the respective authors, manufacturers or business owners. Voice over actors are routinely hired by both online and off-line clients because most individuals, truth be told, do not orate well.

There are many broadcast media that hire voice over artists, including TV and radio, for production numbers such as commercials, public announcements, cartoons and animations, documentaries and movie trailers. Non broadcast entities such as corporations, small businesses, religious organizations, webmasters and schools also hire voice over actors for help with creating podcasts, rich media presentations, educational, training and product videos, and even those pesky phone recordings you hear while on hold.

With apps and online games taking off, voice over actors often work with programmers and gamers to generate different character voices and sayings.

In short, there is a wide range of work available for those folks who want to be the voice behind the scene.

What equipment do you need?

At the very least, you will need a quiet, soundproof room as well as a decent microphone. You should also consider installing the free audio recording and editing software Audacity onto your computer.

Of course, as you build your voice over business, you could eventually outfit your recording studio like Todd Schick.

How much money can you make as a voice over artist?

The following voice work rate card from Voices provides you with a good idea of what to charge for your voice work. Of course, as a beginner voice over artist, you may wish to start your rates a bit lower and work your way up while accumulating referrals and samples of your work.

Still, it’s not unusual to earn $200-$300 for a 5 minute voice over even as a beginner, especially if the work is in a highly specialized field that requires fluency with multi-syllabic words and phrases. Thus, if  you have any technical or educational expertise, take advantage of your background and advertise your proficiencies up-front.

So, how can you get started in this business? The easiest way is to check out these online sites, which help you advertise your services, negotiate your rates, and scope out voice over jobs.

Voicebunny

This site, which was launched by two Voice123 co-founders, Voicebunny is a kind of “fast food” version of voice over service sites, offering clients fast and cheap turnarounds on jobs that are mostly in some kind of technical market. As such, you will see lots of requests for audio podcasts, webinars, reports and news articles listed here. You set your own rates and can also post sample voice overs (i.e., demos) for clients to listen to.

voicebunny

Once a client creates a work request, time is of the essence in terms of you accepting that request and creating a voice audition. In fact, you are actually set up with a timer once you take on a work gig. If that timer runs out, the work request returns to the pool.

Your completed audition is first checked by Voicebunny staff for correctness and legitimacy (e.g., not being spam), after which it is sent to the client. The client then either accepts or rejects your audition. If your audition is accepted, Voicebunny pays you your personally set rate. Rejected auditions are not paid for and there are no retakes.

Some criticisms of Voicebunny include excessive audition rejection by Voicebunny staff, lower than average pay, and no extra pay for what is essentially rush work. As such, Voicebunny is a kind of beginner’s site that most beginners leave once they rack up enough work and client referrals.

Voice123

This site is not for beginners and voice over artists deal with clients directly in terms of setting up auditions, negotiating rates and getting paid. The site deals with some big-name clients including Zynga, Universal Studios and MTV.

voice123

While Voice123 charges no commission or fees on jobs, it does “strongly encourage” its members to sign up for its premium membership at $395/year. Members who are signed up under the free or standard membership are still listed in the voice actors directory and can obtain work through direct invitation, but obtaining steady gigs is slim given that standard member profiles are listed below those of the premium members via the site’s search feature. Also, premium members receive audition invitations through the site, while standard members are not notified of such opportunities.

Voice123 uses a voice casting software called SmartCast to match voice talent with appropriate clients based on prior audition behavior and thus cut down on low quality auditions and bidding wars. Thus, if you habitually audition for a type of voice over such as a webinar presentation, you will get invited to more webinar casting calls. On the flip side, if you habitually audition for low-paying gigs, you will be invited to more low-paying gigs.

Voices

This site is the crème-de-la-crème of voice over sites and offers its talent the opportunity to work with clients including national TV stations, movie studios and major corporations. Also, the minimum casting call payout is $100, with a good number of calls paying between $100-$250.

voices

Voices, much like Voice123, offers free and paid memberships, with the free (i.e., guest) members only receiving direct invitation gigs and not appearing at the top of the search results. Also, free members do not see publicly posted jobs.

Paying members also take advantage of VoiceMatch, a software program that, much like SmartCast, matches the most appropriate voice talent to posted gigs and then adjusts its matches based on voice over artist behavior. The site also offers SurePay Escrow protection to prevent clients from ripping off voice over actors; the downside to this protection is that it takes a 10% cut for its services.

Other voice over sites

Snap Recordings

This site occasionally lists available gigs on its site. Interested voice over actors can also peruse career sites like Indeed or Monster for job openings via Snap Recordings.

snap recordings

Voicesnow

This site doesn’t offer a ready-made area for voice talent to instantly create their profiles; however, under the Contact Us tab, artists can apply directly to Voicesnow for consideration.

voicesnow

Voice talent

Voice over artists can also get contracted by Voice talent; the site occasionally posts openings online or through career sites like Indeed, Glassdoor and Monster.

voice talent

Still not sure where to start?

The voice over community is fairly huge and offers many online networking opportunities where you can hone your craft, find out pay rate specifics, and find voice over gigs on your own. Here are some online sites you should consider checking out:

All Star Voices– This social networks posts jobs, lists voice coaches, hosts a resource center, and much more.

Voice-Over Friends– This Facebook group posts regular notices about the industry as well as job opportunities.

Voice Over Universe– This forum posts reviews of voice over sites, educational materials and events.

Are you a voice over artist? Please describe your experiences in the comments below.

How to Make Money as a Food Tester or Food Taster

Written By:
Last Updated:

Do you love to try new foods or are you a foodie with some amazing taste buds? You can put your taste buds to work and earn extra money by becoming a food tester (i.e., sensory panelist). Lots of food manufacturers and research companies need consumers to try out their products before they are stocked on store shelves.

Sometimes, the work requires that you show up on-site and be a part of a focus group or consumer panel. In many cases, however, you might complete your work online as part of a consumer survey or online forum. Thus, even if you can’t always be physically present at a test facility, you can still make money from home as a food taster.

Food testing companies and laboratories

There are many companies that perform food testing and research for big-name clients like Dole, PepsiCo, Tyson, Nestle, Kraft Foods, etc. These companies often hire food testers for consumer panels and studies that take place throughout the year. Here is a list of some companies you can periodically check in with about food testing opportunities:

Contract Testing, Inc.

This company has offices in Ontario and Georgia and is always recruiting food tasters on its website’s database. Eligible participants are most often called in to work at one of the company’s field sites; however, some products can be taken and tried out at home. Surveys are conducted by computer.

Alberta Agriculture and Rural Development

The Consumer Product Testing Centre, located in Alberta, Canada, periodically recruits food testers through the following web page. Participants can try a variety of food products including pasta, yogurt, chocolate and cookies. An honorarium of $15 is paid for every completed study.

Food Perspectives

This Minneapolis/St. Paul-based company recruits both adults and children to its consumer database.

Franklin Foods

This company strives to “re-invent cream cheese” by researching novel dips, spreads, sauces, etc. Those interested in joining the company’s consumer panel can sign up online.

Herron Research

This market research firm periodically recruits food testers in the Indianapolis, IN and Tampa, FL areas. Interested participants should leave their name and contact information in Herron’s database. Herron will then contact those participants whose specifications match study criteria to join its on-site consumer panels.

Leatherhead Food Research

Leatherhead not only conducts food tasting studies, but also performs consumer analysis and food nutrition studies. This means that panelists who sign up with the site might be asked to undergo fasting, for example, during a study on appetite and certain foods.

Participants in these consumer groups must reside in the U.K.; however, Leatherhead is also looking for home product testers based in the U.K., France and U.S. through its SenseReach program.

MMR Research

This international company, with locations in the U.S., China and the U.K., performs a wide range of analyses for companies like Kellogg’s, Unilever and ConAgra. Occasionally, sensory panelist and consumer focus group opportunities are listed on the MMR Careers page.

National Food Laboratory

This California-based company performs research studies on everything from food safety to packaging to visual appeal. Sensory panelist positions are occasionally offered on the NFL’s careers web page.

Northland Laboratories

This company is based out of Illinois and recruits participants for its food and beverage studies through its online sign-up form.

Food manufacturers

Individual food manufacturers and restaurants will also recruit food tasters and compensate their efforts with not only money but cool schwag like T-shirts, food items and gift cards.

McCormick Corporation

This company recruits consumer panelists to its Maryland office for periodic taste tests. Individuals can participate in McCormick product tastings once every three months.

Schwan Food Company

Schwan is based in Minnesota and, via its Sensory Tasting Laboratory, offers opportunities for taste testers to sample its foods, provide feedback, and be compensated for their time. Potential food testers can learn more about the program through the following web page. The company pays $15 for each completed study. 

Solae

This company, based in St. Louis, develops soy-based products and recruits participants for its food tasting studies on the following web page.

Additional places that list food taster opportunities

Some food testing companies and manufacturers do not list food taster opportunities on their websites but rather on sites like SimplyHired, Monster, LinkedIn, Indeed and CareerBuilder. To find these opportunities, use search terms like “food tester,” “food taster,” “sensory panelist,” or “taste tester.”

You can also try inputting the same search terms into Google or Bing and seeing what pops up. If you’re hoping to work with a specific brand, use Boolean search and input that brand’s name into your search- for example, you could input “food tester AND Kraft” to find out if Kraft is recruiting food testers.

How much money do food taster studies pay?

Food testing focus groups often pay $60-$75/hour for participants who show up and successfully complete the study. Companies that offer online surveys pay between $1/question or $15/survey. Occasionally, companies will offer combined compensation in the form of money and gift cards or free product coupons.

Click Clone Cash Review – Click “Exit” Instead

Written By:
Published On:

Josh Owens is really living his dreams. He’s got the waterfront property, the Jaguar, the boat, oh, and the money. He’s also got plenty of time to show it all to us over and over again.

This Click Clone Cash review is going to take a look at his “zero click” product that he claims will make you millions by finding and cloning successful online businesses. All you’ll have to do is tell the system where to send the checks.

Ok then. Sounds legit.

Normally when reviewing products I’d go into details of what the product is, then tell you whether or not it really is that. Unfortunately, Josh made me sit through his BS for so long to find out what he’s actually offering, that I’ve just decided to skip to the point.

It’s not going to make you any money.

So What Is Click Clone Cash Supposed To Be?

As I said, Josh has supposedly set up a program that will install software on your computer, then search the Internet for successful online businesses, and clone them for you. You’ll be able to sit back and make millions with this system.

Well, no you won’t.

Let’s take a closer look at the reasons why this is all fabricated.

The Video Shows It All

I’ve seen some pretty outrageous videos in the past with terrible paid actors walking around empty mansions and driving fancy cars, claiming to be millionaires. This one really does go a little far. You don’t need to set the whole thing on a yacht on a river while wearing your Harvard Law School T-shirt unless you are just trying to hype everybody up.

Real products have substance and will focus on the product and what it does. “Questionable” products just show you cars and boats, cars and boats.

Claiming that you’re not doing that doesn’t help. In fact, the homepage even shows that these people are actors:

click-clone-cash-barf

There are so many holes that I spotted in the video to know that it’s fake. I’m going to show you a few here.

1. When Josh returns home, his kids and wife are surprised to see that he’s got home already and rush to say hi. Well that’s fine, but how did the cameraman get inside without you figuring out your dad was home?

2. When Josh gets suddenly called up on Face-Time by one of his partners, how come she didn’t know already that she was being filmed? There’s a camera right in front of her face!

3. Isn’t it convenient that there happened to be a camera in his old law office (and he looks no younger), 5 years ago when “Aaron” walked in, so he could film the whole conversation? From four different angles?

4. Josh said that if you leave the video, you’ll not be able to return. Well that’s a lie. I’ve left and returned loads of times (I’m addicted to that “OMG girl” at the beginning).

Seriously? Still thinking this is a legitimate video?

The Actual Product

OK, so maybe they staged the video but the product still works right? That’s a stretch based on all the other dodgy products out there doing the exact same thing, but I’ll humor you.

If you manage to get to the end of the video, you’ll see “Josh” telling you that you need to pay for some hosting to set it all up. This is where he gets his money out of you.

click-clone-cash-review

In fact, I’ve reviewed another product that does the exact same thing. It’s all designed to convince you to spend money on hosting.

You don’t really think that there’s magic software out there that can just clone successful businesses do you? Successful businesses have security features, and don’t just work on autopilot anyway..without any expenses, or set up.

Take the advice of one of Josh’s supposed partners:

“Folks, don’t be stupid”.

Facebook Fraud: Is Facebook Using Click Farms for Fake Likes?

Written By:
Last Updated:

You may want to rethink paying money to promote your Facebook page. Why? It appears that those “likes” you’re paying for are actually fake. Furthermore, these fake likes are coming from Facebook itself, not some shady click farms or black hat SEO operations.

And even worse, Facebook has still not addressed the issue.

What are click farms?

Before we talk about Facebook fraud and fake likes, let’s first discuss click farms. Akin to content farms, click farms employ masses of low-paid clickers who are paid solely on the number of clicks they generate. Many such click farms are often (though not always) located in third world countries. In some cases, these “click farmers” are paid to like something on Facebook. For example, a click farmer might like your donut shop Facebook page.

However, unlike a regular clicker, the click farmer has no further interest in seeing your news updates or commenting on your Facebook posts. No, the click farmer is socially uninvolved with you and your product. Aside from that like, you’d never know that this person is a fan of your page.

Because the click farmer is making X amount of money per 1000 clicks, he will also indiscriminately like other Facebook pages. As a result, the profile of this clicker will show him liking all manner of unrelated people, places or things- and a lot of them too.

Veritasium’s strange case of zombie Facebook fans

It’s reasonable to assume that, if you retain the services of a shady SEO firm, you will collect bogus Likes through click farms. However, what if you take the higher moral ground and actually pay Facebook to promote your page?

Facebook states that, for a discrete fee, it will actively promote your page, increasing its likelihood of reaching a wider audience and accumulating likes. For example, if I pay Facebook $20, I can get up to 70 new likes per day on my Evansville Area Inventors & Entrepreneurs Club page.

facebook

Back in 2012, Derek Muller, the guy who operates Veritasium, decided to buy some Facebook advertising. Almost immediately, he saw his Facebook like number jump from a mere two thousand to over seventy thousand. However, what he also noticed was that engagement levels on his Facebook page were no better than before. In some cases, engagement levels were actually worse.

How could this be?

When Derek analyzed his new likes, he noticed two disturbing trends: first, the majority of his new fans originated from countries like India, Bangladesh, Nepal, the Philippines, Pakistan, Indonesia and Sri Lanka, and second, almost 0% of these thousands of new fans engaged with any of his posts or other content.

More fans = less engagement?!?

Having those fake likes was actually worse than having a few real likes. When Derek had previously published a post on Facebook, his fans were likely to engage with that post. This high level of engagement enabled the post to later reach a wider circle of his Facebook fans.

However, once Derek’s posts started going out to his fake fans, those fans did not interact with the posts and Facebook used that non-interaction as an indication that the posts were not interesting and should not be sent to a wider fan base. It’s as if the fake fans just absorbed the posts and made them die. This is how having those extra fans actually made Veritasium’s engagement levels worse.

Derek tried deleting his new likes but there was (and still is) no systematic way to perform this action. As a result, Veritasium’s fan engagement levels were actually harmed by Derek’s paying for Facebook advertising.

How bad is the problem?

Veritasium is not the only case study of fake Facebook likes. After a few drug and biotech companies got burned by fake Likes, the bioscience consulting company Comprendia advised them to steer clear of Facebook advertising. And then there’s the State Department, which last year spent $630,000 to acquire Facebook likes- and saw only a 2% engagement level from its “fans.”

But what if an advertiser simply blocked her page from being promoted in click farm-associated countries like India or Pakistan? Because advertisers can select the countries in which their pages are promoted, sticking with countries like the U.S., Australia, the U.K. and Canada should alleviate the issue of click farm likes- right?

Unfortunately, as an anonymous source named “Bob” found out, limiting Likes to certain countries does not completely solve the problem. Click farmers will sporadically like Facebook pages that they are not even being paid to like. They do this to avoid spam/bot detection by Facebook. Obviously, if a click farmer is generating likes on just a select few advertiser pages, it’s easier to get caught. But if the click farmer is going everywhere and liking a lot of different advertiser pages, the likes seem more random.

What is Facebook doing about it?

In a nutshell, not much. While Facebook claims that it takes aggressive action against fraudulent Facebook accounts and fake likes, the most obvious action- enabling Facebook users to delete fake likes in bulk- hasn’t been considered.

You’d think that Facebook would get on the stick about removing bogus likes or just trying to eliminate the problem from occurring in the first place. However, consider what a frustrated advertiser who is suddenly inundated with 10,000 new likes yet no increased engagement might do. Yep, he might decide to pay Facebook, yet again, to promote his posts to his newly expanded audience. Such promotion is termed boosting, as shown here on my own Facebook page for my I&E Club:

facebook1

So now, not only is Facebook making money by promoting a page (i.e., accumulating fake likes), it is also making money by boosting posts that the fake fans have no interest in seeing and engaging with.

In other words, fake likes are a boon to Facebook, and the company actually benefits twice from this “unresolved problem.”

In summary…don’t buy Facebook advertising

If you’ve been considering buying Facebook advertising, don’t do it. However, if you’ve already bought Facebook advertising, please let us know in the comments below regarding how your new likes and engagement levels have turned out.

Vemma: A Healthy Scam?

Written By:
Last Updated:

We all want to be healthy, to eat right, to exercise plenty and to feel good in our own skin. Sometimes though, it is hard work to stay fit and healthy, and having supplements can help us out.

Enter Vemma. They sell a vitamin & mineral supplement drink.

I bet you are thinking, “OK Dean, why are you talking about health drinks?” The reason is because Vemma is also an MLM company, and while I will state right now that it is not a scam or illegal, please read on to find out why you should think carefully about signing up or even avoid this one at all costs.

Vemma the MLM

Just a refresher for those that don’t know, MLM stands for Multi Level Marketing but is also known as Network Marketing.

The basic premise is that you sell the products and recruit other people underneath you to also sell the products of which you get a small commission.

The general rule of thumb with MLM systems though is it’s only the people at the top (the owners) that make any money or any real money.

You can sign up to Vemma and get a bunch of different products from them:

  • 4 bottles of Vemma® (32-oz bottles, 30-day supply for 2 people)
  • 1 V2 Fridge Brick (30 – 2-oz bottles)
  • 2 bottles of Vemma NEXT® (32-oz bottles)
  • 24 cans of Verve® Energy Drink (8.3-oz cans)
  • 12 cans of Verve Zero Sugar Energy Drink (8.3-oz cans)
  • 12 cans of Verve Bold Energy Drink (8.3-oz cans)
  • 1 bag of Bod•ē Shake Vanilla Ice Cream flavor (16 meals/bag)
  • 1 bag of Bod•ē Shake Chocolate Ice Cream flavor (16 meals/bag)
  • 1 Vemma Success Kit

On top of that you will get a Business Builder Pack, which consists of:

  • A FREE marketing website which utilizes social media to help you tell your story like never before.
  • A FREE mobile app with innovative text videos and cutting-edge tracking to manage your business activity.
  • A FREE success kit with the necessary tools every new Brand Partner should have to help you jump-start your business.
  • A variety of Vemma products to share with others.
  • A proven system of training tools and field leadership support.
  • Full eligibility for the Rewards & Recognition Program, including a brand-new BMW paid for by Vemma.
  • Freedom and flexibility to be in control of your business, your time and your success.
  • A supportive upline and a corporate Home Office team of industry-experienced professionals dedicated to your success.
  • A lucrative income from products you never have to ship or exchange money for. No merchant accounts, shipping, processing, customer service or other tedious tasks.

The Downside

I listed everything you get because all of this costs a fortune! To get started with Vemma, the basic package (outlined above) costs $499.95 or $999.95 for a bigger pack.

48 drinks, 32 portions of icecream and a marketing kit for $500 bucks? WOW!

Not only that but after purchase you are set up automatically to pay $126 a month for 2 32oz bottles.

Edit: You can actually get started with Vemma without buying anything, but it is so hard to find this information I bet virtually no one does.

This is a lot of money to pay for out of pocket on a product that is expensive to sell, with no guarantee of selling it. Most of Vemma’s competing products can be bought at a supermarket for half the price, and there is no solid evidence that Vemma’s products will actually improve fitness or health.

The site makes bold claims that you can make a full time wage with a part time job by selling Vemma. In order to do that, you would need an awful lot of marketing and face-to-face sales, and some competency with online marketing.

The company does provide basic websites for those members who are buying into their products but realistically speaking these sites are cookie cutter sites, and you would be better off with your own.

The reality of Vemma, just like with any other MLM system, is that in order to make a profit and to regain money spent on purchasing the product (as you will have to give at least some of it away as testers) you need to sell a LOT and you need to recruit a LOT.

The company doesn’t pay you for selling though they do give you reward points for hiring new sellers. You have to make the money back by selling an already over priced product.

I would love to know how much Vemma earns from the distributors buying the product compared to how much the distributors earn.

Something tells me Vemma gets the better end of the deal.

The Bottom Line

Regular readers will know that I am not fond of MLM schemes, whether there is a product to sell like with Vemma or MLM’s evil brother the Pyramid scheme.

However, as mentioned at the start, Vemma is not a scam. It is a large, international company that’s uses an MLM system to sell products. If nothing else, you do get something for your cash even if it is an overpriced health drink.

Generally speaking, 97-99% of people who sell products under an MLM system will not make any money; many of those will in fact lose money.

So unless you want the product for yourself with the possibility of offsetting the cost by selling some from time to time, or unless you are an amazing marketing who could sell snow to Eskimos then MLM programs like Vemma should be avoided.

Behind the Scenes at SFI Marketing Group

Written By:
Last Updated:

The SFI Marketing group is not a straight forward system. It incorporates all the classic signs of an MLM (Multi Level Marketing or Pyramid scheme) and yet tries to mask it.

A Little Background

There is some history to SFI, one that I can only piece bits of and use conjecture to fill in the rest. You see, their website is sfimg.com and according to their site, it stands for Strong Future Internal Marketing Group. However SFI started off at least as Six Figure Income and the sixfigureincome.com site still redirects there.

I can’t find out much about that product but the name itself doesn’t make it sound like it was anything but a “get rich quick scheme”

It appears then that this business has changed tactic.

SFI Marketing Group also gets an A+ on the BBB website, but honestly, don’t put much trust in that, for $800 anyone can get an A+ rating…

Inside SFI

Joining is free, unlike most MLM’s so it is easy to be taken off guard by it. What quickly gives the site away is the SFI Basics:

1. Become an Executive Affiliate (EA) and remain an EA every month.

2. Recruit five affiliates using the methods listed HERE.

3. Teach your five affiliates to do these same three steps.

Any system that strongly suggests from the outset to recruit people under you and get them to recruit people is without a doubt an MLM system.

What complicates the initial view is that SFI uses a sister company and affiliate marketing as well, an effective way for the owners to make more money.

Making Money with SFI

How does this particular system encourage you to make money? There are four ways.

1. Start earning money by accumulating VersaPoints

VersaPoints are SFI’s internal points system. In order to stand a chance of getting a cut of a pot of money each month you need to earn 1500 points as a minimum. No where on the site does it tell you how much the pot of money is currently nor what your slice would be for 1500 points though. It is always worrying when a company isn’t transparent in these things.

The only information available is this:

A huge 40% of the Commission Volume (CV) on EVERY sale at TripleClicks.com goes into the TripleClicks Executive Pool. Share in this big, company wide pool with a minimum of just 1500 VP a month!

Where does this 40% come from? It isn’t clear, from the sales of products it seems, but who foots the bill? I can’t see it being the sellers, they are already losing a lot by selling there.

Not only that but from looking at the ways you can make VersaPoints it looks like your first month will be easy due to large value but simple objectives for example liking SFI on Facebook. After the first month, it looks like it will be much harder to obtain.

In fact one area to be cautious over is that there is some advices from other members to buy Tripleclicks (see below) gift cards, in order to gain 1200 points each month. That’s around $60 a month. Not cheap especially if you cannot make up the extra 300 points and even then there is no guarantee you will get your cash back.

You do get points as well for promoting products on Tripleclicks (per sale).

2. Increase your earnings by generating sales at TripleClicks.com

To obtain some cash you can promote products from Tripleclicks, which is a self proclaimed Ecommerce site. However to me it looks like a poor man’s Ebay. The products are a mixed bag, the sellers even more so, with many of them being from abroad and with poor English skills.

One seller states:

“Find it Here is a online store that sells different stuffs that you need and stuffs that hard to find”

Marketing some of these products will be interesting to say the least, so making money from them may not be that lucrative, however there is of course the possibility.

One thing that upsets me is the Beginner Methods of gaining sales:

  • Tell your friends and family
  • Buy gift cards and give them to friends and family
  • Buy promotional cards and distribute them – “Whenever you take a taxi or ride public transportation, “forget” this TC X-Card on the seat before you exit.”
  • Post flyers
  • Etc. etc.

There are some reasonable methods listed as well, including social network sharing, but the fact that a lot of the beginner ones involves harassing friends or family or purchasing products to promote them is not good.

Tripleclicks earns the owners of SFI “a nominal fee” (genuine quote!) of 15% of all sales, so they have a vested interest in getting you to push these products any way you can.

Now add on to that the fact that you as an affiliate can earn 45% of the sales price. That’s 60%. Very few businesses can afford to provide quality service and products with a 60% loss on the product sale price, especially physical goods.

However, earning that amount is unlikely, as for a start your are automatically given a “sponsor” who will earn a percentage of your commission. On top of that, each item has a different commission rate, some with as high as 65% some low 5%.

3. Maximize your income with sponsoring and duplication

Here is the MLM creeping in again, with members recruited below you having a portion of their earnings sent upline towards you. This matrix, as it is called, is 12 levels deep which is very large. MLM systems are not self supporting, and the FTC is in the firm belief that overall the only people who make money from MLM are the ones at the top, and that is always the business owner and not you.

4. Add supplemental income streams (optional)

This is side work, mainly referring sellers to Tripleclicks and allowing adverts on your site.

Training and Support

Most of the training on site is minimal and revolves around selling Tripleclick products or earning more VersaPoints. There is no real meat to any of the training and nothing that can benefit you in the long run.

The Bottom Line

Is SFI a scam? No. While I have reservations about recommending it, it isn’t as simple as they will take your money and run.

I am not a big fan of MLMs, I don’t believe there is any money to be made in them by a regular joe. From what can be gathered of SFI, it is an MLM crossed with affiliate marketing, and as such thought there is a potential to make money here, though I would strongly caution you from spending money in order to do so, as there are lots of areas in SFI where it is easy to start spending cash to make up your VersaPoints or market SFI.

The quality of the products and sellers is also something that concerns me, how can you sell something at such a low mark-up? I highly doubt many, if any, of these sellers have the weight business wise to get mass purchase deals.

I am also quite concerned they put a lot more focus on getting you to promote SFI to your friends and family than actually teaching you anything on marketing in general.

How to Enter Business Pitch Competitions and Win Money for Your ‘Big Idea’

Written By:
Last Updated:

If you have a hot new invention or business idea, you could try crowdfunding your business idea through a site like Kickstarter or Indiegogo. However, on a more local level, you could also try pitching that idea through a business pitch contest. Why should you consider taking advantage of a business pitch contest?

Business pitch competition perks

1. You learn the art of persuasion

If you plan to run a business over the long-term, there will come a point where you’ll need to raise capital. This might occur by going through a bank, selling debentures or private equity, or just convincing Uncle Bob to loan you a few thousand bucks. By learning how to get investors on board early in the game, your business stands a higher chance of succeeding.

2. You obtain valuable feedback.

In a business pitch competition, every contestant is provided with feedback on her business plan, revenue model, customer base, etc. Also, the judges ask tough questions about how the invention or business idea and how it will be brought to fruition. Such “tough love” ahead of time improves your business skills and areas of expertise.

3. You gain connections.

Places that host business pitch competitions are typically associated with entrepreneur clubs, business schools, business coaching organizations, etc. These places can direct you to people or resources that will aid you in finding an injection molding service or publisher or cinematographer. You’ll avoid making costly production mistakes in the process.

4. You step up accountability.

Anytime a business uses public funds, such as by selling stock, it must provide a public accounting of its business activities. In your case, winning a business pitch competition means that you need to return to the host organization and give an update on your business idea success or failure. You may also be tasked with completing set goals in a given time frame. Such accountability measures keep you from endlessly procrastinating on your work or fudging the revenue report.

5. You gain credibility.

Quite often, big grants ride on the coattails of smaller contest wins. If you’re looking to eventually apply for bigger money or just sign up a big name investor/partner, you are certainly helped by having a contest win in your corner.

6. You get money!

Lest we forget, business pitch competitions enable you to get your hands on some sweet cash. Some contests hand out $500, while other contests award as much as $20,000 for your business pitch.

Where can you find a business pitch competition?

Schools of business

Universities with a school of business will often offer a yearly business pitch competition. As examples, the Robins School of Business offers a $5,000 contest purse, and the Connecticut Center for Entrepreneurship and Innovation offers a $10,000 contest purse. Across the pond, the University of Edinburgh offers a £3000 purse.

In some cases, contest eligibility is limited to current or former students of the school. In other cases, you simply have to be a state or area resident.

Chambers of commerce

Cities, towns and even villages have chambers of commerce that award hefty cash prizes in exchange for business ideas that inevitably lead to business growth in those communities. One example includes the Henry and Stark Counties Fast Pitch Competition, which awards an $8,500 purse to existing and start-up businesses. Another example is Swim with the Sharks, a video pitch competition for businesses fewer than three years old.

In general, contestants have to be area residents or businesses.

Entrepreneur clubs

Often in partnership with a city’s economic development committee or council, entrepreneur clubs host annual business pitch competitions that award several hundred dollars as well as non-monetary perks like free classes, reimbursed filings, etc. Pitch contestants and/or winners may be asked to help out with some of the club’s events or attend a few meetings.

Hackerspaces

Hackerspaces like Sector67 host a monthly Madison SOUP event where attendees enjoy a meal and donate a few bucks to help fund a community micro-grant. Those attendees who pitch a small business idea and win the cash pot are obligated to return the following month and give an update of their progress.

Most hackerspaces are non-profit entities, so the money that is raised during a contest must typically be used to help the local community. However, if you have an idea that would help your neighborhood, county, city, etc., your area hackerspace could be the perfect place to pitch.

Non-profits

Non-profit organizations often feature pitch contests that focus on creating social change. However, that doesn’t mean that your business pitch can’t benefit from these organizations. If you creatively structure your business idea so that it helps a local cause or charity, you can win some big bucks from the non-profit sector. One example includes Social Venture Partners of Pittsburgh; this organization hosts a Fall Pitch that awards $12,500 to the top winner.

Things to keep in mind

You will more than likely need to create and submit a business plan in order to be seriously considered by contest judges. This is especially true if large amounts of money are being awarded.

Business pitch competitions, much like crowdfunding initiatives on Indiegogo or Kickstarter, come with the stipulation that all winners are accountable to the paying organization; in other words, winners need to provide one or more updates of their progress. In some cases, the organization may request that the money be returned if funds are misappropriated or not spent as intended.

In other words, be very clear about what you need the money for and then, don’t blow it on something completely unrelated to the original pitch.

Have you ever competed in a business pitch contest? How did it go? Let us know in the comments below.

11 Online Banks that Give You the Highest Interest Rates

Written By:
Published On:

Is your brick-and-mortar bank stiffing you when it comes to your savings account interest rate? I didn’t even realize how low my banks’ interest rates were until I started perusing my savings accounts. Read ‘em and weep:

The following is my savings account annual percentage rate (APR), as well as the interest paid to me, by BMO Harris Bank.

bank interest rate

Oak Bank, which has a fairly high credit rating and is a one-owner, one-branch and one location bank located in Fitchburg, Wisconsin, offers the following interest rates:

oak bank interest rates

Even my Polish & Slavic Federal Credit Union, which I assumed would have higher interest rates due to the fact that it is a credit union, only offers a 0.05% annual interest rate on its regular and money market savings accounts:

credit union interest rates

Classic brick-and-mortar banks seldom pay more than a 0.05% APR and often require that you maintain at least a thousand bucks in the account in order to collect your piddly interest.

In light of these abysmally low interest rates, it’s no wonder that people are draining their bank accounts and investing in stocks, bonds or even gold. Still, you do need to have ready access to cash in case of an emergency; so, you need to have at least some funds squirreled away in a savings account. The question, remains, however, just which banks have the highest savings account interest rates.

The answer lies in online banks.

Unlike the brick-and-mortars, online banks don’t have physical locations to pay for and upkeep. Staffing costs are also reduced because most of the banking is automated. These cost savings usually translate to higher interest rates for you. Furthermore, online banks, just like their brick-and-mortar siblings, are FDIC insured.

Here are some online banks that offer the highest interest rates. I’ve organized the banks from highest to lowest rates.

EverBank

First time account holders of EverBank’s Yield Pledge Money Market Accounts earn a 6-month bonus rate of 1.40%, and a 1.01% APR thereafter for up to the first $50,000 invested. While a minimum $1,500 is required to start a money market account, there is no actual minimum amount required to collect interest.

everbank

MySavingsDirect

This New York-based bank offers online Mysavings Accounts that pay a 1.00% APR. There are no fees or minimum amounts required; also, you can fund your savings account directly from your current checking account.

my savings direct

Synchrony Bank

This bank offers an Optimizer Plus High Yield Savings account that pays one of the best interest rates ever at 0.95%. Money market accounts pay a 0.85% APR. There is no minimum balance required; however, you are assessed a $5 monthly fee if your account falls below $50. Interest is compounded daily.

synchrony bank

CIT Bank

With just a minimum deposit of $100, you can have your savings account with CIT Bank earning a nice 0.90% APR. Savings accounts that are $25,000 or higher earn a 0.95% APR with CIT. This St. Louis-based bank has been around since 1908.

cit bank

Barclays

Barclays online savings account offer a high 0.90% APR, no hidden fees or account minimums, as well as easy transfers from your other existing banks. Plus, you can set up direct deposit so that you can save money regularly. The bank also offers CDs with a 0.35%-2.25% APR.

barclays

GE Capital Bank

Another clear winner in the high APR category is GE Capital Bank- this online institution pays a whopping 0.90% on savings accounts and requires no minimum balance. Yearly CDs pay a 1.10% APR, and 5-year CDs pay an even better 2.25%. The bank offers no checking accounts, incidentally, just savings instruments.

ge capital bank

Ally Bank

Headquartered in Midvale, Utah, Ally offers a competitive 0.87% interest rate on savings accounts and a 0.87% APR on money market accounts. Neither account requires a minimal balance.

ally bank

Ally also offers some convenient perks like the ability to link all your other bank accounts to your Ally account. You can also deposit your checks simply by snapping a photo of them with your smartphone.

Discover Online Savings

While better known as the credit card that gives you cashback rewards, Discover also operates an online bank that pays a hefty 0.85% APR on savings accounts. While an initial $500 is required to fund your account, there is no minimum required balance, and no monthly fees are assessed if you fall below your initial funding amount.

Discover Online Bank

 

Discover also offers CDs at a 0.95% APR (for 12-month CDs).

FNBO Direct

This online branch of the First National Bank of Omaha offers a 0.85% APR and requires only a $1 deposit to start an online savings account. FNBO Direct also pays quite well on CDs, with 6-60 month CDs all earning a 1.15% APR.

fnbo online

 

American Express

Yet another well-known credit card company, American Express also offers personal high-yield savings accounts that pay a 0.80% APR. No monthly fees are assessed and there is no minimum balance required. American Express also offers 36-month CDs that generate a 0.90% APR.

american express

Capital One 360

This bank offers several online savings options, including a 360 Savings Account for adults and a Kids Savings Account. Both items currently pay an APR of 0.75% and require no minimum balance. There are also CDs available that pay from 0.40%-0.90%.

capital one 360

 

Online banks: Make your money grow

When it comes to keeping a savings account, why have your money earn a measly 0.01% or so when you can earn over 1% with some of these online winners? While such an APR doesn’t compare to what you can earn by doing P2P lending or stock trading, nevertheless, online savings accounts serve their purpose by giving you ready access to your cash whenever that rainy day or vacation comes up.