Before I pinpoint the mistakes, take a glance at the way the site offered the monetary incentive for every activity. With just one ‘HI’, we get 0.2 cents. Some of us also have the habit of re-posting other’s comments or even commenting back at any given comment. Even for that one earns 0.1 cent. Infact, the person on whose comment you are commenting gets 0.1 cent.
Now, if you simply follow a person you get 0.1 cent per follower as well as the person whom you follow, who has actually done zero activity, gets the same amount. What is the logic behind rewarding people for no work of their own? For creating new groups you get 0.4 cents. For joining in other groups you would get 0.2 cents. There is also one referral programme. For each referral you get $0.25.
Definitely, they have retained the catch in the minimum payout which is $100. But considering their ease in distributing cash, if a person literally takes to minting money, there would be another five whom he would be helping to mint equally, as a result they would have ended up having many in the line claiming cash after a considerable period. Not sure how would they have paid it, considering they just had Google Ad sense ads displayed all over and if a website’s strategy was to run a business on Ad sense, the existence of the business would be at the mercy of the Almighty.
The e-business strategy is gaining momentum especially with too many web based businesses roping in the Venture Capital money in India. But just the word internet will not bring in any money. When a wholesome number of social networking websites teeming the internet business world, why do we add on another one.
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Afterall, there would be hardly anyone who would be comfortable with a social network which is scattered across the web in different sites and considering their ease with the present biggies, hardly anyone would be open for shifting the base. In a recent casual conversation with a Venture Capitalist, I got a better insight on the same. It’s no point redoing the same model, instead, now it’s the time to leverage on the horizontal approach. For instance, the currency providers within the Social networking games or introducing new payment models, as PayPal’s India reach is weakened considering some recent regulations. These are some of the most upfront ways to get into the social networking game and then move on with new innovations.
Now, with regards to Foziy.com, the site no longer seems to remain as it automatically directs the user to a domain name sale page. Hope, with a new entrepreneurial mindset and tactics they will be back in the game again.