The SEC has stepped in and seized control of yet another “Passive Income Scam”. Learn What happened & how to PROTECT yourself from these internet scams.
I’ve talked at length about the problem or plague in our industry that is lead by the fake gurus…
From the affiliate marketing scams – https://www.youtube.com/watch?v=aHY3teLOShY
To the passive income lie – https://www.milesbeckler.com/passive-income-lie/
And here’s another one…
For an in-depth analysis of this exact situation, be sure to check out Emelia Gardner’s channel here – https://www.youtube.com/watch?v=uK3oCIxRqJk&list=PLIQHg5Gp8_mCVGMwqm4Jf8VWY2yOpOCJc&index=5
Hat tip to Jon Gillham who brought this story to my attention! His post here: https://authoritywebsiteincome.com/income-store-ripoff/ Has a TON of links to more info on this situation.
I also want to give a shout out to Coffeezilla who is calling out the fake gurus in our industry : https://www.youtube.com/channel/UCFQMnBA3CS502aghlcr0_aw
And to Mike Winnet – https://www.youtube.com/channel/UComkllJTMHNZr4UNxCThdcw Who is also calling out the gurus and the scams, one after another.
In this video you’re going to learn about the newest passive income scam that has been seized and shutdown by the U S government. Yes, it’s happened again, not the first time since I started this channel that I’ve covered these kinds of topics and we’re going to look at it from three specific angles. Number one, the specific scenario, the company, I’ve got a little inside information about it because of an event I went to last year, so I’ll share that. Number two, we’re going to go big picture so you can make sure you’re avoiding these kinds of potential issues because they’re really common. It happens all the time, so I don’t want to talk about just this one case. I want you to understand how this works so you can prepare yourself in the future because there will be more. And then number three, I’m going to give a shout out and I’m going to mention some some channels and some individuals who brought this to my attention who have done great deep dive digging on this and they’re calling out other scams and fake gurus by names.
I’ll share where you can find those individuals to get more so you can protect yourself because I’ll be perfectly honest, there are absolutely scam artists out there trying to prey on you. This has been going on since the turn of the century in the 18 hundreds to the 19 hundreds this is not new snake oil salesmen are real and you need to understand what’s going on. So in this specific scenario, the company’s name is, today’s growth consultant is doing business as the income store and their whole bit was that you essentially buy websites through them. So they’re already running, already operating, already profiting websites. They often purchase them from F E international or from empire flippers, and then their internal team manages the website and runs the website and you get 50% of the upside potential. So all in all, it started out as a very honest and good working business model, I think.
But as you apply scale and as our rhythms begin to change as the world and the game begins to change, that’s when things get a little bit shaky. So they had a specific claim on their website that said you get a guaranteed 15% return. And now I’m obviously no lawyer, I don’t play one on YouTube or TV. But when, when you start talking about guaranteed returns and the returns start slipping and the money from the new investors comes in to pay for those guaranteed returns for the old investors, it starts to look and smell a lot like a Ponzi scheme.
We can see the filing itself, but we don’t know what’s actually in it yet.
Now, let me tell about my backstory here. So I went to a really high end mastermind with a bunch of seven figure business owner million dollars a year to 10 15 plus million dollars a year. I think some of them were in the $20 million per year range. Now, that was in April of last year and these were some of the highest sponsors. This actual company bought their way in as a sponsor. They spent an incredible amount of money as a sponsor and it makes me wonder they were pitching generally it was $100,000 buy him for a website and they were pitching that. Now they’re really kind of only doing $250,000 and more buy-ins. And I’m now wondering if that moment in time, if they were just literally getting access to a group of successful individuals, trying to get a little more money coming in to pay all of their last investors.
I have no idea if that’s true or not. I don’t know what they knew about their companies scenario in that time and a place, but they seemed honest.
Hey Miles here, milesbeckler.com. In this video you’re going to learn
about the newest passive income scam that has been seized and shutdown
by the U S government. Yes, it’s happened again, not the first time since I started this
channel that I’ve covered these kinds of topics and we’re going to look at it
from three specific angles. Number one,.
the specific scenario, the company, I’ve got a little inside information about
it because of an event I went to last year, so I’ll share that. Number two, we’re going to go big picture so you can
make sure you’re avoiding these kinds of potential issues because they’re
really common. It happens all the time,.
so I don’t want to talk
about just this one case. I want you to understand how this works
so you can prepare yourself in the future because there will be
more. And then number three, I’m going to give a shout out and I’m
going to mention some some channels and some individuals who brought this to my
attention who have done great deep dive.
digging on this and they’re calling out
other scams and fake gurus by names. I’ll share where you can find those
individuals to get more so you can protect yourself because I’ll be perfectly honest, there are absolutely scam artists
out there trying to prey on you. This has been going on since the turn
of the century in the 18 hundreds to the.
19 hundreds this is not new snake
oil salesmen are real and you need to understand what’s going on.
So in this specific scenario, the company’s name is, today’s growth consultant
is doing business as the
income store and their whole bit was that you essentially
buy websites through them. So they’re already running, already
operating, already profiting websites..
They often purchase them from F E
international or from empire flippers, and then their internal team manages
the website and runs the website and you get 50% of the upside
potential. So all in all, it started out as a very honest and good
working business model, I think. Uh, but as you apply scale and as our rhythms
begin to change as the world and the.
game begins to change, that’s when
things get a little bit shaky. So they had a specific claim on their
website that said you get a guaranteed 15% return. And now I’m obviously no lawyer,
I don’t play one on YouTube or TV. But when, when you start talking about guaranteed
returns and the returns start slipping.
and the money from the new investors
comes in to pay for those guaranteed returns for the old investors, it starts to look and smell a lot
like a Ponzi scheme. Now the sec, which is a security exchange
commission has actually seized it. I’m going to link to a playlist of videos
from an actual lawyer who has dived,.
dove dived into this data much more.
She’s actually showing the, um, the filing. So you could see, but a lot of what’s actually a lot of
the kind of content is actually sealed, right? We can see the filing itself, but we don’t know what’s
actually in it yet. So you can subscribe to her
to follow more about this. Uh,.
what’s the key takeaway here now before,
let me tell about my backstory here. So I went to a really high end mastermind
with a bunch of seven figure business owner million dollars a year to
10 15 plus million dollars a year. I think some of them were in the
$20 million per year range. Now, that was in April of last year and
these were some of the highest sponsors..
This actual company bought
their way in as a sponsor. They spent an incredible amount of money
as a sponsor and it makes me wonder they were pitching generally
it was $100,000 buy him
for a website and they were pitching that. Now they’re really kind
of only doing $250,000 and more buy-ins. And I’m now wondering
if that moment in time,.
if they were just literally getting access
to a group of successful individuals, trying to get a little more money coming
in to pay all of their last investors. I have no idea if that’s true or not. I don’t know what they knew about their
companies scenario in that time and a place, but they seemed honest. They
seem genuine, they seemed authentic..
And here we are less than a year later
and that business has been saved by the government. Um, it’s very, very scary. So what are the takeaways from this?
What’s the bigger picture? Number one, anytime somebody has
promising passive income, you instantly need to be weary of what
they’re talking about because nothing in.
this life is passive, right? There’s
no method that lasts forever. There is no traffic source
that’s going to last forever. There’s no advertising platform
that’s going to last forever. And in one of the last videos that the
CEO put out, he’s taken it down since, but I found a transcript of it on a forum..
He essentially was stating that the
Google algorithm updates and the Facebook updates are really what
hurt their business. And they went from authority sites and
then they went on to Shopify sites and, and when the algorithms change there,
they didn’t adapt quick enough, which is a big sign of
a large company, right?.
When you have hundreds and hundreds
of employees, which they did, they were actually on the inc is fastest
growing companies in America list. So everything about it from
the outside looked legitimate. They’d been in business for a decade. It’s literally the promise of
ever growing passive income. That is the one big flag that everyone
should have been able to see from the get.
go. Because the truth is nothing
in this world is passive. There’s always work to be done. So no traffic lasts forever. No method
lasts forever. No business lasts forever. My first business online was on MySpace.
I was earning money as an affiliate. That website, I think technically it’s
around, nobody’s on my space right now,.
right? Uh, we rode the wave of Facebook organic
traffic to see hundreds of thousands of visits per month organically.
That’s not really a thing anymore. We survived some of the penguin and Panda
updates of Google in 2010, 11, 12, 13, and we survived those. But I know
people who didn’t survive those..
I know people whose businesses has
been taken down by every one of these algorithm changes. And this is why
an online business is never passive, because you always need to be adapting. You always need to be aware of
where is user behavior trending? Where is user attention trending?
And you need to be engaged in this..
So what is the work, right?
Like the, the goal is to just, you gotta be engaged and do the
active work of building a business. But what does that mean? I’m going to break it down a little
bit more specific for you and my wife. I were talking about this today.
Um, I think the true work, the best way for me to put this today
is you need to be working on building an.
[inaudible], honest, trustworthy brand. The power of brand right now is
continuing to grow in importance. And brand can be you, right? This is,
you’re on the miles Beckler channel. I’ve got the miles beckler.com blog. It’s
all miles Bachler all day around here, right? That’s my brand. I’m the,
this is the miles Becker brand..
I chose to do a personal brand.
My wife went in another direction. She came up with a brand name and either
way it’s mildly irrel irrelevant which one you choose because the truth is once
you start to build a brand and you get known or your brand gets known as the
most helpful person in that space or the.
one to go seek, I don’t care
if this is how to BBQ guidance, if it’s how to fly a racing drone when
the world and the algorithms start to change, which is guaranteed
to happen in the future. If your brand is strong enough, they’re going to seek you out and what
you might start to notice is you can actually go do keyword research on my
name and you’re going to notice thousands.
of people per month. They don’t
just search for keyword research, they search for miles Beckler keyword
research. They search for miles, Beckler, S, E, O, and that’s the power
of brand coming through. When audience members like with you are
ready to learn something, you’re like, I need to learn how to make a funnel. I
need to learn how to do my Facebook ads,.
I need to learn affiliate
marketing. And you’re like, well I bet miles has a video on his
channel for that and you go search for my version of it. It doesn’t matter what the algorithm is
doing in that day and age and if you go search on a platform and I’m not there, odds are you’re going to jump to another
platform and search because you know.
I’m here showing up for you weekend
and week out because that’s what I do. That’s what successful brands do. They keep showing up and
this is why it’s not passive. There’s no such thing as passive. It is active and if you look at all of
the fake gurus out there who are selling passive income resources and passive
income tools and passive income courses,.
they’re actively selling you passive. They’re updating their social
media, they’re updating their blog. If they have teams working on it,
they’re hiring those teammates. They’re doing the eight, they’re working
behind the scenes in some capacity. They are, they’re
involved in the business, which by definition means it ain’t
passive. Now do I earn residual income?.
Do I get income ongoing in the future
for things I do in the past? Absolutely. That took active work to build the
systems, the brand, the domain authority, the channel authority to get there. And I’m getting residual compounding
results from those efforts. I’m all good with residual
income. I totally get it.
Multiple streams of income..
Absolutely. But the day I stopped
showing up for you guys, my income, my brand, everything will start to slowly get worse
and worse and worse than the numbers. And eventually I’ll have to go back
to work, right? The exit number for, for retiring completely and doing
nothing for the rest of my life, which sounds actually kind
of nightmarishly boring to
me. What, 10 12 million?.
My long way off from having
that in protected assets. Um, so I’m still showing
up for you guys. Right? And I think it’s that mindset of it’s
almost disheartening in a way when you’ve thought that there is that get rich
quick as possible when you thought that passive income is possible and somehow
you’re going to go from being in a.
cubicle to being able to do nothing
all day and make tens of thousands of dollars per month would
love it if it was easy. You’d probably know people smarter
than you who already done did it. I don’t know anybody who’s gotten there
and who’s crossed that bridge. Um, I know people who’ve made extreme amounts
of income, but they’re still working..
They’re still active, they’re still
creating, they’re still publishing. They’re still giving
value to their people. Sometimes they go start philanthropies
and they go work in charities because that’s really what their
heart’s calling is. Great. They’re still doing
things in that capacity. Bill Gates is an example of that for
if you would like an example of that..
So when you really build a trusted
brand that’s all through content today, I don’t care if that content is
Facebook advertising to landing pages, running a very simple funnel, or whether that content is YouTube videos
and you’re doing a YouTube channel or blogging and you’re building
a blog or an affiliate site..
It’s always coming back to content and
you always need to be putting out more content because a, you have people
who have a headstart on you. They just started before you. They’re
not necessarily better than you are. They’re not necessarily
smarter than you are. They currently hold the number
one, two, three, four, five,.
10 spot on Google and beyond
when you’re entering the space. So you need to go catch up to them. And then there’s that segment of people
who are coming up after you and they’re chasing at your heels and they also
want those same few coveted spots. They want that same attention of the
audience that you do and they’re working.
their asses off to get that spot as
well. And there’s a competition going on. There’s people who currently have it. There’s people coming up through the ranks
who are going after it and you are in there on that spectrum somewhere and the
day you think you can stop publishing or you can just hand it off to a team
and Oh the team will take care of.
everything. That’s the day that those
people who are hungry, hungrier than you, they’re more strategic than you. They’re putting in more hours than you’re
putting in and they’re being smarter about how they’re going
about it than you are. That’s the day they start to overtake
you and eventually when you don’t put any.
effort in because you’re passively
letting it dwindle and die, that’s when they will eventually
overtake you. Your income will drop, your traffic will drop, your leads will wonder where you are
cause you’re not emailing anymore because you’re passively swinging in a hammock. So once you get beyond that belief that
there is some magic passive thing and.
you need to buy that right
system or buy that right tool. To me that’s the freedom point and you, the realization is this is going to take
work. It takes time to build a brand. Takes a lot of content to build brand. I like to think of it in
numbers of iterations. I don’t think there’s a number of hours..
I don’t think there’s a number
of days you could put on it, but I think there’s a thousand iterations
and if you’re extremely strategic about everything that you do and you’re
always iterating your next video, you watched your first video and
you’re like, okay, how did I do? How did I sound? How has that
title was my click through rate,.
how’s my thumbnail? And then you
make an iteration, your second video, and you try again and you, you work to improve all these
little things that you’re learning. Eventually you’ll get to three
videos and you’re like, all right, how do I get a blog post going? Then you get a couple of hundred
blog posts going, all right,.
how do I start emailing? Get a few hundred emails going this point
you’re at five, six, 700 iterations. That’s what a real business looks like
and that’s where you need to get to. So when you and your brand are the
trusted advisor for your audience, when you and your brand are
the most helpful people at
helping your audience get.
the transformations they
desire, they want a better life. They want something right, and
that’s what you help them do. Whether it’s they want to be able to
barbecue the best brisket in the world and you’re the barbecue guru teaching them
how to use that big green egg thing that they got, whatever it is,.
that’s the role that you fill and
it takes time to keep doing that. So you got to keep showing up for your
audience is the ultimate key and anyone’s selling you passive as if there’s
something you could do and you sign up for this system and you copy and paste
their things. It’s never going to work..
That needs to be the red flag of this is
a scam and it might not be an outright scam. They might actually
have some good information, but the fact that they’re selling you
passive income when there is no such actual thing as passive income, the fact that they’re actively taking
time to build evergreen webinars,.
to create followup sequences, I guarantee
you they are split testing their ads. I guarantee you they’re split
testing their landing pages. They’re doing the active work
and they’re selling you a lie. And when your relationship with those
individuals begins at the point of a lie, eventually you’re going to be the one
holding the short end of the stick..
When you realize this and
you’re like, you know what, I’m going all in for my people. I’m going to become the best crochet
trainer in the world. I’m a do it. I’m gonna make my YouTube videos. I’m gonna figure out how to show
myself crocheting on YouTube. I’m gonna teach it. I’m just
going to be the absolute best..
And then you commit to it a
thousand iterations and you go, you’re on the path. And
eventually you’ll get there. Eventually you’ll outwork the people and
you’ll outrank the people who currently have it. And if you’re quick enough
and you’re iterating fast enough, you’ll stay ahead of those people biting
your heels to come get what you’re.
after as well. And that is how you
become the champion in your niche. And that is how you build a real
business online that can let you live the lifestyle that you want. That’s it
for part two of the video, part three. Now I want to give some shout
outs to some people. Number one, shout out to you if you
made it to the end here..
You’re a one percenter and I want
to know, hit it in the comments. Say I’m a 1% or let me know you made
it to the end. I love seeing that. I don’t have time to comment every
time I still look through and see it. I know who you are, I
appreciate you. So that’s it. Number two is thanks to John Gillam
from authority website income..
He actually brought this to my
attention. Uh, Amelia Gardner. She is the utuber who’s
covering this in depth. If you want to know more about this
specific scenario with the income store, she’s the one to follow
up between the two. I’ve got a post of his and her YouTube
channel and the description between those.
two, you will find access to all the
documents, the conversations on Reddit, on the Fastlane forums,
et cetera, et cetera. So you can dig as deep
as you want into this. And then on the people calling out
the fake gurus, uh, number one, I want to give out a shout
out to coffee. Zilla. Uh, this dude is just like on fire and he’s
going for it and he’s calling out the.
fake gurus by name. That’s something that I consciously chose
not to do on my channel because they are going to come and go and actually
fake gurus just quit the other day because they’re, they really, they have no
authenticity. This is just not real. I saw him come up and I saw him
crash down and now they’re quitting..
They made their money on the backs of
their people and now they’re done with their audience. They’re onto
the next interesting thing. Um, I don’t call him out by name because that
model’s going to happen over and over and over. And I want you to
understand what to look for. Cause they all use the
same language patterns..
They all sell the get rich
quick passive income scam. They all make it sound easy. They all sit on their fancy cars
and they flex using status symbols, fancy watches, fancy cars sitting in airplanes because
those are the status symbols that trigger emotionally like wow, maybe this time the get rich
quick thing will work. Nope,.
that ain’t how it works. So hats
off, shout out hat tip to coffee, Zillow for doing what he’s doing. And
then the, the Mike Wynot team, uh, Mike Winnet, the Mike Winnet team and
a family there. Uh, they’re in the UK, he is a, I think he’s sold a startup and he’s
a professional get rich quick buyer. So he’s actually like clicking on the
ads and going to the events and he is.
calling out in very,
very clean detail. Um, what these Contra preneurs
he calls him Contra preneurs. I think he coined that phrase. Um, these con artists acting as
entrepreneurs selling scams, they all use the same sorts
of psychological things,
whether it’s in person, whether it’s the automated webinar
bologna that you see over and over when.
they’re making it sound live and it’s not. They all use the same psychological
things. And when you learn what those are, you’ll have a moment when you’re
like, Oh, this sounds interesting. Click and you’re like, damn, this
is, this is a recorded webinar. This is all fake. This dude’s lying to me. Are you going to go into business with
somebody who’s straight up lying to you?.
Not this kid. I’m going
to do the hard work. Cause that’s the only way
to get it done. Right? And all the people I know who are creating
six figure seven figure eight figure people in this business,
they’re working their tails off, but they’re loving it because they
chose to work in a niche, in a space,.
some that interests them, whether it’s the barbecue or the
crocheting or the drone racing, whatever it is for them, they’re
doing something that they love. So that process over the next
three years, five years, 10 years, whatever it takes, because that’s
where you got to be. Is it a whatever? It takes level. It’s all kind of
fun. My wife loves spirituality,.
so everyday she’s studying
spirituality, she’s reading books on it, she’s watching videos on it, and then
she’s creating her blog posts on it. She’s creating her videos on it.
It’s a labor of love. This channel. I am such a marketing geek. I can’t even
tell you and I have been since 2003. I’m like 17 years into marketing
geek dome. I love what I do..
I love learning this. I love sharing this. I love hearing about your
growth and your experiences. That’s why I’m on this planet.
So there ain’t no like, I’m going to do this until I get there
and then I’m done with you and now hell nah. Like I’m just going to keep with it. Maybe I’ll start putting out books
if I ever take time to write coherent.
chapters. I don’t know. Um, but when you get there yourself and
you let go of all that shiny object bullshit, man, your bank
account is stopped dwindling. You ain’t gonna put no thousand $2,000
scams on your credit card anymore. Your emotions will change cause you won’t
feel stupid for getting caught up into.
yet another scam. How do
I know I bought into tens, dozens of scams before I ever
committed to just doing the work? The shortcut in this world do the
same thing for three years straight. The shortcut in this game of digital
business, thousand iterations, how quick can you get there? And if
you’re doing one thing, one niche,.
you’re playing the Shopify game
and Shopify and Facebook funnels, and then you stop after six months
and you go start to do something else. Guess what? Your iteration
clock went back to zero. And if you had 120 iterations going on
your path to a thousand that you want to be and you change gears to a
new niche or a new something,.
you’re back to zero and
you’re starting over. And that’s what most people are
doing. They’re buying this scam. Oh, that didn’t work. Let me go buy this
scam. That didn’t work. Oh, this guy, the passive income guru
boy says podcasting can do.
Okay, I’ll buy his scam. That didn’t work by that. Scam
that well, lock it down. Focus in,.
build a brand, give value to an audience. Go all in on helping them know that
you’ve got to chase down those who already hold the spots that you desire, which
is the attention to the audience. And you’ve got people coming up in the
ranks behind you trying to track you down and outperform you. So be more strategic.
They are published more quickly,.
more frequently than they are, and you will be the one holding the
belt at some point in time when that happens. I don’t know, but guess what? It’s pretty beautiful life when it
does and that’s it for this video. So thank you for watching. Again,
thanks to John Gilliam, a Illumina, Amelia Gardner, coffee Zilla Mike,.
when I’m gonna have all their links and
stuff on the end screens and now below here, they’re everywhere.
Thank you for showing up. I appreciate you do the work.
Give value to your audience. It creates an amazing
lifestyle and ultimately stop
padding the pockets of these fake gurus because they’re just going
to dump on you when they’re done..
They’re just going to
disappear when it’s done, when they get called out for whatever
they’re doing and good on the folks calling them out. We need more people
like that in this world. And on that note, I’m gonna call it. So
thank you for your time. I appreciate you and I’ll see you on
the next video. Until then, be well,.