Sqip: Home Business Heaven or Scam?

By Simonne on Aug 26, 2009 under Make money online, Reviews, Scams

Would you like to earn money doing nothing? Would you like to own shares in a company that’s going to sell for millions? Well, dreaming is free and also free is joining Sqip, an online portal that gives all members equity shares (which they call Private Equity Points, or PEPs) in the company.
Like Agloco did back in 2006, Sqip claims free PEPs number is limited, so after they come to an end, further members won’t receive them anymore. Ha! This is like they are playing the scarcity game on us, which sounds desperate rather than a professional business proposition.
OK, so far, nothing seems like scam here: you join Sqip for free, then you see the 100 PEPs in your account and their current value.

Why Would Sqip Give Free Equity Shares to Everybody and Their Dog?

Many years ago, I used to work for a company which got listed on the stock market. In order to celebrate that, all employees were awarded a number of “success shares” in the company, but we could have redeemed them only within a given period of time which started in about two years from the listing date and ended one year later. Luckily the shares increased in value, so we all had the pleasure to get some money without doing anything.
The Sqip idea is the same, but it seems to me like it’s only a “smart” marketing strategy aimed at bringing them a huge pool of members in the network, with the purpose of having them exposed to advertising later on. The Sqip guys probably hope huge players will be so willing to give them a slice of their advertising budgets, that it won’t be a problem to let all founder members redeem their initial shares at whatever price they’d be evaluated by the time the company is going to be sold.

How and When Am I Going To Make Money With Sqip?

Honestly, I wasn’t able to figure out when, but I’ve got a rough idea on how: you are paid commissions for each new member that signs under you referral link, up to 10 levels (MLM anybody?). Then you are paid commissions on everything your network members buy from the portal (here Sqip are actually selling the skin of the bear in the woods, as they don’t have any merchant on their side yet).
Here’s a presentation video from their website, which will explain you in detail how you can sell the same wilderness bear skin to your friends. The funniest part is that the great portal that’s going to make us rich, actually forgot to buy the rights for some of the stockxpert images, so they embedded them with watermarks. But that’s only a detail, isn’t it?

Please don’t ask why this video embedding code is scrambled… my intentions were good… but…

Poetic break from getting rich online

Maybe Sqip
Is going cheap,
To make you more money.
Now, isn’t that funny
How people believe
They are going to live
A millionaire’s life
With their kids and their wife
Until the end of days,
Simply because Sqip pays?

End of the poetic break. Back to our monkey home business

Now, there may be some voices to accuse me for writing a review about something I didn’t use, like they did with Lis when she wondered whether Teaching Sells works or not. I’ve got two messages for them: first, instead of making money, they’d better take some quick lessons on how to make paella online from our friend, Terry, who’s the absolute expert in this field.

Update: as an alternative, you could learn how to make money planning a wedding: your own. If you don’t spend it, it means you’ve earned it – that’s another way of making more money: spend less

The second message is go ahead, join Sqip (you can bet I’m offering you an affiliate link – just check the small image with the question mark in the beginning of this page), then let’s talk in three months from now, and see how much your 100 free shares will be worth by then. What do you have to lose? It’s free and it only takes two minutes. They don’t even ask you to confirm your email address

Otherwise, Sqip is just another online community portal, with bulletins, photo albums, blogs, videos, music… but with a tiny difference: members aren’t publishing anything, they aren’t making friends, they aren’t uploading any videos, at least for the time being.

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