Watch Out for 'Contrepreneurs'

Successful entrepreneur Mike Winnet has a YouTube channel exposing in length the tactics of those he calls 'contrepreneurs'. You've probably seen them before and maybe even attended one of their conferences. Contrepreneurs claim that you can make millions, just like them, if you just pay $3997 to take their course. They're charismatic speakers who usually have a moving, rags-to-riches backstory. They may have written best-selling motivational books, but there's no real substance to their message.

You might not think you'd fall for a scam, but contrepreneurs aren't just after your savings. They attract young business people easily. Anyone who's feeling stuck in their career or looking for ideas to get their business off the ground is a target. After all, why not take a free course or buy a book to learn something from an entrepreneur who appears so successful. The problem is, they always try to upsell and they make false promises.

Remember if something sounds too good to be true, it probably is. There are no short-cuts to success in business. There will always be challenges to overcome, no matter how motivated you are. While education and self-improvement are important, there are better ways to learn than from these contrepreneur conferences.

Instead, invest your time and money in more worthwhile places. Is it really worth an entire day listening to a sales pitch even if it's “free”? That time could be spent working on your business plan. Investing in educational courses may be worthwhile, but check out the organisations qualifications and be wary if it promises too much. Focus more on specific skills you can learn to help your business rather than on flashy formulas for instant success.