Earning $1k and Beyond

My progress of Ramit Sethi's Earn1k Course

Losing Faith in Ramit

First There Was Love

I loved Ramit’s I Will Teach You to Be Rich book. It made me $$$ without spending any. How? I took a week researching different banks and what they offered in interest. He recommends specific banks in his book so I took a look at those. I looked especially close at ING Direct, and I was about to transfer over my deposits when I checked out my local bank. They were offering a higher interest rate so I stayed with them. If it wasn’t for reading his book I would’ve have missed out on this higher, non-introductory rate interest at the bank I am already at. Thank Ramit.

Then There Was That Other Side

After being overwhelmed by the details and lack of junk, page filling crap of information in Ramit’s IWTYBR book, I had confidence in him. I still wasn’t 100% sure if Earn1k was right for me though. A simple $10 ebook was nothing compared to investing in a $1,000 course. I read all the emails he sent out before the course, and they were good. They weren’t spectacular because I already knew a lot of the stuff, but it showed he knew what he was talking about. I also looked at how he was pitching Earn1k. I like to read between the lines and see if the pitch is using sales tactics too much. If I feel like it’s too much pressure then it isn’t worth my time. I did feel a bit too pressured, but I needed a spark to move me forward, and since I trusted Sethi, then I figured if he says 100% guarantee or your money back, then I will try it. Some of the pressure came from Ramit using a lot of Infomercial techniques, which put me off a little:

  1. Limited Time Offer – Join now or miss out. You cannot join after this date, and I may not offer the course again, or if I do it’ll be for more $$$. — You can see how this puts pressure on the readers to buy ASAP. Ramit markets to people who want to take action in their life, like dieters who want to lose weight, but can’t figure out how. I understand he needs to get people to move but he’s been offering the course for the past few years in the first quarter of each year at the very least.
  2. Club Mentality– It’s us against them. Join my course and invest in you. He says he doesn’t market to people who don’t want to take the steps to improve their life. He only wants people who are willing to invest (spend money) to learn how to freelance. He’s right that most people want stuff for free, and it’s annoying, but the only other option isn’t dropping $1k on his course; there are other options. Sadly, when someone is reading his pitch, they only see two paths: spend no money and get junk, or spend lots of money on him and get this great course.
    1. He’s very good at getting into people’s head. People who have what it takes to take next step to attain their goals. This sounds all good and positive, but if you read between the lines, he is basically saying the only way to do this is through joining his course. It’s similar to religious groups that claim the only way to salvation is through them even though there are other groups that follow the same book. You are either with us or not. This is BS. I can become successful without Ramit’s Earn1k course, I do not need him, and I can take my own next step, but I wanted his assistance.
    2. Ramit attacks those who criticize him. Look at past comments on his blog. If someone writes like I have written about the course or him, he says “Fine don’t join my course” or “I only want someone who is willing to invest in themselves.” This seems like it qualifies him as someone who isn’t just trying to get his hands on everyone’s hands. It’s true that he doesn’t want everyone and their brother’s money, but he does want all of your money. I don’t mean this in a scammy way, but he says it himself that he wants a small niche of people that he continues to sell to (upselling), and when those who believe in him read these conversations it further strengthens their belief in him as a leader.
  3. Testimonials – He has more than 100 testimonials on his site, but if you look around the internet there is hardly a whisper about the course. Why? With the age of the internet you’d think there would be a plethora of information on Earn1k, but there isn’t a lot of neutral reviews. Don’t get confused with the other program called Earn1k a Day, it’s a difference course not affiliated with Ramit. This is why I made this blog so others can read it and make their own decision. My stance on it is that it’s not a scam, it will work for a  select group of people, but it wasn’t worth the $1,000 to me.
    1. Also, when I do find a review on the course on a blog or other 3rd party site, I dug deeper and most of them are affiliates of his. Meaning if you click on a link that goes to the Earn1k sign-up page and enroll on one of those external sites, the owner of that site will get a kick-back. I think a lot of people took the course then thought they could make money off the thing itself. Remember, Sethi is very good at target marketing so he knows his readers are into the internet, finances, and are current or want to be freelancers. These are the types of people who will use the internet to increase their finances and want to do it as a side or full time job. They are not your standard mold of a person. Just think about yourself and if you fit that profile.
  4. Statements of Authority – Ramit does a lot of partnering with other blogs like Lifehacker and the 4 hour work week. He does not hide the fact that he puts himself out there to other credible blogs so when they do recommend him, it will be easier for him to get a customer. People are more willing to buy a product if a trusted source recommends it. Lifehacker is why I initially had some trust in him, but I also read around to get more validation. Never trust just one source.
  5. Psychological Tricks – He does a lot of fear based tactics. Fear is a top driver of success and failure. Why do you think political ads use so much fear to get a person elected? It works. Sethi is good at using people’s Fears, hopes, and dreams to get them to buy into his course, which is what most companies do. I just don’t like those tactics being used on a class.
    1. He literally has a Masters in Sociology. You’d think he would’ve done an MBA, right?Nope. He wanted to learn how people work.  Did you know Mark Zuckerburg was a psychology major before dropping out? And how exactly does Zynga get you to pay for cartoon plants in Farmville? They are really good at knowing how you think and what will get you to click that Buy Now button

One response to “Losing Faith in Ramit

  1. edelaineh August 9, 2014 at 4:19 am

    Amazing post! You really did your research so well

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: