It's Not Wise to Save Anymore.. It's Time To Invest!

It's Not Wise to Save Anymore.. It's Time To Invest!

by Ramli Sarie

 

Understanding Currency Inflation

(YOU GOT TO READ THIS! ITS' IMPORTANT!)

I am just here to open your mind and to create an awareness that whatever you are saving now for the future use, let say for a long retirement holiday, children's educations fees or pilgrims, and let say you need $20,000 for a particular savings because that is the amount or price NOW and you began to put aside a certain amount of money every month into your bank account and makes it as your savings towards that goal. Assuming your saving plan takes you 10 years and sadly, after 10 years later, the amount of money needed for you to spend on the things you initially planned off was not enough simply because of price inflation! with the banks giving you only 5-10% annual interest, how much really your savings can be.

Another example is from the past experiences. We all have known that what we can used to get for 50 cents about 10-15 years ago isn't that price anymore now. Example are sweets and candies, do you really think that the price if the sweets and candies had risen up over the time that now it cost you almost double? People will say that it's because the rent for the store had rise up and the products and services follows as to sustain the business. Well, what cause all this to rise and increase over the years? Do the price of all these really increase? The answer is No! Your dollar or currency value is the one that keeps dropping until you need to spend more now than before for the same item. So, has your salary or salaries of jobs increases too? Maybe, but not as exponentially equal to rise of products in the market? The effect is the fact that THE POOR JUST GET POORER!

Can you imagine that the amount of money you have now or been saving inside the bank is going to almost half in terms of value in the next few decades? Your $20,00 could just be like $10,000 of today. Ofcourse you will see your balance at $20K but I'm referring to the value value of the money. So to avoid that LOST of Value to your Money, you must learn how to atleast preserve or grow it now.

Purchasing Power

Purchasing power represents the amount of goods and services you can buy with a currency. You should aim to preserve your purchasing power to ensure that the currency you are working hard to earn today is still valuable in the future when you want to spend it. The key to preserving your purchasing power is two-fold:

1. You should hold currency that retains its value over long periods of time.
2. You should hold currency that is appreciating relative to most, if not all other currencies in both the short and medium-term.

Historically, buying gold and silver has been an excellent way of preserving purchasing power over long periods of time. Today it takes almost the same amount of gold or silver to buy a barrel of crude oil as it did 50 years ago. This is in stark contrast to national currencies (also called fiat currencies), like the US dollar, the values of which strongly erode over time. Central banks and governments have set a long-term trend of currency debasement, and it is unlikely that this trend will be reversed anytime soon.

Gold and silver are the only globally recognized currencies that cannot be created out of thin air, which makes both of them great stores of value (preservers of purchasing power) in the long-term. Unlike fiat currencies that can easily be debased, gold and silver remain the ultimate forms of money.

How do gold and silver preserve and increase your purchasing power?

If you had invested $10,000 on 1 January 2000 in 3-Month US Treasury bills your purchasing power would have decreased slightly by 1 January 2013. If you had invested the same $10,000 in gold, your purchasing power would have quadrupled, and the return for silver is close to gold. See the chart below.

The US dollar and 8 other major currencies versus gold

Gold rose 7.0% in 2012 against the US dollar. Gold also rose in 2012 against each of the eight other major world currencies presented in the following table. 

The US dollar and 8 other major currencies versus silver

The silver price also gained in 2012 against all major currencies. Silver’s results are presented in the following table.

Silver has generated average annual rates of appreciation in all nine currencies that are higher than gold. So silver also fits well within a long-term accumulation plan, but only if you are prepared to accept the volatility that comes with it.

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Tips on Choosing a Good Domain Name Part 1

Tips on Choosing a Good Domain Name Part 1

By Ramli Sarie

Before you rush out and choose your domain name or name your website, you might want to consider the following points:

Your Domain Name Should Be Your Website Name

Naming your site after your domain may seem obvious to some of you, but you'll be surprised to learn that not every website is named after the domain name even when the webmaster owns that domain name.

Naming a site after its domain name is important, for the simple reason that when people think of your website, they'll think of it by name. If your name is also your URL (ie, web address), they'll automatically know where to go. For example, when people think of thesitewizard.com, they don't have to wonder what web address to type into their browser to get there. The name of the site is also the URL.

Imagine if your business (or website) is called "Acme", but somebody else holds that domain name. Instead, you have some obscure domain name called, say, "mybusiness.com". What happens when your customers, recalling that Acme has a product they want, type "www.acme.com"? They'll end up at your competitor's website. One lost sale.

In the modern world of the Internet, where people automatically turn to the Web for information, it pays to have a domain name that reflects your site or business. There are just fewer things for your customers or visitors to remember. Moreover, you don't seriously think that they'll try to memorise ("memorize" in US English) an unrelated URL just because you want them to, do you? The only people who'll commit it to memory are your competitors who want to compare your prices.

What if you cannot get the domain name of your choice? It really depends on how committed you are to that particular name. If you have an existing brand name that you're known for, you'll probably not want to ditch that name just because you couldn't get the domain name. After all, it took you a lot of time and money to establish that name. If so, you might simply want to try to buy over the domain name from the current owner. Check up the "whois" information for the domain, and contact that person listed to see if they're willing to sell it. You probably should be aware that they are likely to want to charge a higher fee than you'll normally get when buying new domains (assuming they want to sell it in the first place).

On the other hand, if you're just starting out, you might prefer the cheaper alternative of trying to obtain a domain name first, and then naming your website (or business) after the domain that you've acquired. So if you've acquired, say, the domain name "acme.com", then your website and business might be named "Acme" or "acme.com". I know this seems a bit like putting the cart before the horse, but that's the reality if you don't want to lose out on the Internet.

Amway Review | Empower Network | Millionaire Networks

Amway | Empower Network | Millionaire Networks

My fellow marketers recommended I do an Amway review so I did. So in this Amway review I will be covering some details about the Amway business opportunity and its products. Unlike other Amway reviews this Amway review will be stating only facts. No get rich quick promises of any kind are implied by this Amway review and no negative comments about the company are implied either, this is strictly informative. So enjoy this Amway review and I hope it helps you along the journey to financial freedom whether it is with Amway or any other business.

Now I did this Amway review because Amway is a leading network marketing and direct sales company. This simply means that to make money with Amway you sell their products and sign up other to sell their products. The people you sign up are called your “down line” and everything you and your down line sells will make you and your down line money. See you sell products and you get commissions on the products your customers buy. Now your down line sells products and they get commissions for the products they sell but wait! You get commissions from the products they sell too because you signed them up!

So the business model is simple, sell stuff get paid, tell others to sell stuff so they get paid and you get paid because you signed them up.

Now the two most important things in any business is having a GREAT product and being able to sell it. If the product sucks no one will buy and the few who do won’t buy again. If you are unable to sell your product you won’t make money no matter how good your product is. Amway combines great products with great selling opportunities which makes them a killer money machine.

Amway review-Products

So let’s see what products Amway has to offer and if they have gained any popularity.

#1 Home Care

Home Care is an Amway exclusive brand of cleaning products that are made from natural resources and clean great with very little or no chemicals. The Amway business is very committed to the Environmental causes by making “green” product. Its products are focused on stewardship of the earth and performance that meets today’s high standards. Home Care packaging is made of 25 percent post-consumer recycled plastic. It’s recyclable and in some cases reusable with economical concentrated refills. The Home Care products are usable in sanitation of any home, or business and many cleaning business have made Home Care their brand of choice. The competitive price and high quality of the products make them easily marketable to anyone because everyone uses cleaning products.

#2 Artistry

Artistry is also an Amway exclusive brand which has over 300 beauty products in their collection. Amway sponsors the Miss America Organization, the world’s largest provider of scholarship assistance for young women. The Artistry brand is the exclusive skincare and cosmetics provider for Miss America. Artistry cosmetics are high quality and reasonably priced in comparison with their competitors.

#3 Nutrilite

Nutrilite is the Amway exclusive brand of all health and wellness products. Nutrilite is a vitamin, mineral and dietary supplement brand that provides a complete array of supplements for a range of needs, including general nutrition, heart health, weight management, and children’s nutrition.

Nutrilite sources natural, organic plant concentrates grown on their own farms, and highly purified vitamins and minerals from around the world to meet our exacting quality standards. All ingredients used in Nutrilite products are extensively researched, tested and formulated to provide a product that meets the nutritional needs of people on their way to optimal health. Nutrilite gained a 96% satisfaction rating according to consumerlab.com.

#4 eSpring

eSpring is another Amway exclusive brand and the selling of eSpring products has been one of the fastest out of all Amway products. eSpring is a line of water purifiers, filters etc. There are varieties available based on where they are needed. Purified water is a popular item in the market and having great tasting water straight from the tap with the filters under your sink is quite convenient.

Failure is  not by Amway

With the best and most common necessity products, there are yet people having hard time in selling these items. Most either fail or struggle and that is the one sad thing about this kind of business, most struggle or fail because of lack of consistency, support or training.

An Alternative Solution

The original plan of finding some friends or family to sign up with your business works but not for all. What happens when your list of family and friends runs out and you don’t know who to prospect your business.

This is where the power of the internet has been leveraged by the network marketers. Think about how many people use the internet everyday. It is a lot more than you could talk to or have meetings and presentations with. Systems called funded proposals are used to get peoples attention to a blog post (like this one) or  a video that tells them about the opportunity without bothering the person who created it. The post or video has a place to enter information and the person (if interested) will give their name and email so you can contact them. So now people interested in your business will be calling or emailing you. Isn’t that awesome!

So what a new IBO or any network marketer needs is a good system that gets peoples attention online and finds good people to expand your business with.

The Empower Network is the best platform by far, with its viral blogging system and advanced training it has helped thousands of network marketers (including me) use the internet to expand our business to ridiculous heights.

So if you are an Amway IBO that has been struggling just like I was you need to get in and start using the Empower Network to get more sign ups and sell more products Why? because I know that you didn’t join Amway or whatever company you’re in to struggle People join companies like Amway to gain financial freedom, freedom being the keyword.

So stop struggling and wondering when and if your business will work, Get in and start using a proven system so we can all achieve our goals and gain the freedom we all want, need and Deserve! Click Here to join Empower and solidify the future of your business.

PS if you enjoyed this Amway review please share it by clicking the Google + and Tweet buttons to the left side of this page and leave a comment below.

For those curious to know, I am an Amway IBO and I’m in a few other similar companies because I feel it is safer to have multiple streams of income in case on falls short.

All of the Information I have provided in this Amway review is accurate with their 2013 business reference guide and no false claims of any kind are implied by this Amway review.

I am very serious about business, networking and helping myself and others achieve the goals of financial freedom as you should be able to tell by the extensive detail in this Amway review.

If you have never been in Amway and are curious about the opportunity feel free to contact me and I will be more than happy to assist in any way and anything that may seem unclear in this amway review please let me know.  Click Here to see my Amway shop and you can contact me from my shop or leave a comment below

Hope to hear from y’all!!

Also if you enjoyed this Amway review you should check out my other posts!! And feel free to use information from this Amway review to share with others about the opportunity.

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Revel in the plush ambience and discreet exclusivity of Crockfords. The invitation-only, all-suite hotel combines personalised service with its elegant interiors to offer its guests the gold standard in hospitality.

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A Brief Intro of What is Empower Network Viral Blogging System.

A Brief Intro of What is Empower Network Viral Blogging System.

If you have been searching the web for ideas on creating a passive income stream through internet affiliate marketing, you likely have come across Empower Network, which has been receiving a lot of attention by internet marketers. In fact, if you are interested in starting an online business and are looking for something that is very real and works, click here to view a free video and see for yourself why this opportunity is my number one recommended product.

Since this launch, the number of people six-figure monthly incomes continues to grow. Like all opportunities, there will be some people who do not earn anything, while others will put up some large monetary figures. What is interesting about Empower Network is the company’s committment to transparency – so much so, that they publish member earnings on a regular basis. Click here for their Income Disclaimer.
The beauty of this program is that it only costs $25 per month to get started and since you earn 100% commissions for each sale, your first sale allows you to break even. All money generated from sales is paid instantly and deposited directly into your bank account. Being paid quickly is extremely beneficial for those who wish to promote their business using paid advertising methods (i.e. Pay-Per-Click) because there is profit margin immediately available to cover these promotional costs.

Please note that this is NOT a get-rich-quick scheme and money will not magically appear just because you joined Empower Network. Like all businesses, to be successful takes hard work and consistent effort. Empower Network provides the tools and training, but the degree of success is defined by YOU and YOUalone. YOU determine where you want to take YOUR business. There is no magic wand or instant potion to riches. Empower Network provides the blueprint, the system and the tools, but it requires YOU to be committed and to TAKE ACTION

I Was Tongue-Slapped by the Barber too!

Amway the best!

I Was Tongue-Slapped by the Barber too!

  

Providing customer service aside, this barber here is obviously mad with his customer who just can't keep himself conscious and still- so he gives him a smack!

I will share my personal experience with you guys about one barber who I always go to trim my hair every single monthly. This happened 6 years ago. Read on.. don't come to conclusion just yet.. I wasn't smack in my face like that but I do receive a different kind of slapping in the face!

A nice barber, very polite and friendly, on one of my visit to him and while trimming my hair, he suddenly needs to pick-up a phone call and seek my pardon for it as it was urgent he claimed. While he was standing behind, I overheard his conversion with the other party whom I believed to his wife. They were talking about buying soaps and toiletries stuffs, then some health supplements. I thought he needs to run errands for these things later in the day but their conversation when on about delivering of those items. I was thinking, was he doing a second job delivering stuffs after he closed his shop? So, finally he continued attending to me and I felt pity for this man who needs to work day & night to feed his family. Being was such a big mouth, I started talking and asking him about doing online business or work online. I told him that he can monitor and managed his online business right at his own shop by placing a PC and internet connection. I offer to provide my expertise to him for free. He just replied me, "It's alright Sir, I can still manage whatever I am doing right now and I am doing fine." I tried convincing him about the opportunities doing online business but he doesn't seems impressed. It doesn't bother me much, I'm used to rejection anyway - move-on!

As soon as I was done, he started packing up too and looks like he's going to close his shop for that day. Indeed it was so, he told me that the shop owner will comes in the next hour to continue running the shop. I wasn't surprised to hear that but I always thought the shop was his. It was raining heavily when both of us left the shop and I offered to give a ride in my car since earlier he had told he needed to go the city area, I was heading there too anyway. But he declined and smiled at me. Ok then, I made my move leaving him to lock his shop. I hurriedly walked towards my car and drove off. Upon driving off towards the first junction, a black Jaguar XF car tailgated me and then overtook by my left and cuts into my path. My eyes caught an image that was so familiar to me. It was the the Barber! I let it out of my mind but it still rings for answer so I came back to his shop short of a month, as just to cover up my anxiety for wanting to ask him. While being attended by him I asked him the question I wanted to ask all this time. "Was that you driving the brand new Jaguar XF the other day?"

"Yes!", he replied. I continued, " Sorry, but is that yours?"

Again he answered, "Yes!". I was frustrated with his short answers, come on! tell me more because I didn't believed you! - that's what in my mine actually but I shut-up, a few minutes later I began to ask him again.

And I asked, " How much do you pay for your car's monthly mortgage? Is your car came from your business here?"

"Nope!", he answered and he opened up to me finally after realizing I am so puzzled with the fact that he was driving a Jaguar. He continued, "Actually I didn't buy the car, it was given to me fully paid for. Amway paid it for me! I am a Diamond Direct! I don't actually need to work for a living now, but I insists on living to work and I'm doing this barber thing because I love the art of hair cutting & styling. I'm doing this for free too. The owner is one of my friend and my down-line in Amway. He is already a Platinum Direct and he too is earning a residual income. He wanted to close this shop but I suggested that I would run it for him and the a money will be use to help needy families in our community." 

He started asking series of questions next, "So Sir, do your online business provide you with a passive income and residual income that will continue onto your generations to come? Can it gives me discounts on things I purchased, refund me for things that I do not like and pays me commissions and royalties?"

I kept quiet and just listen as he continues. " Amway has been going on for many decades has made many millionaires worldwide. For those who don't make it to the millionaire band, they are living in the lifestyle of a millionaire and treated like a millionaire by Amway whenever we are travelling with them. Amway doesn't know what is 2nd class flying and accommodation! We only know 1st Class! We are the real people who makes money while we are sleeping! I have never regret joining Amway and It's all thanks to my wife who one day came back home with the Amway starter kit. We never looked back and we worked hard for a couple of years until who we are today. My network are from 7 countries! and even I'm speaking to you right now, money is coming in into my bank account! Don't ask me how but that's the truth!

The reason I don't want to tell you this is because I done up with new sponsoring for Amway. I'll help others do it and I don't add it into my dowline list. There's come to a point where its pointless to even speak the word 'Amway' to people whose mind are preset that Amway is 'bull-of-shit'!, Sorry for my words but that is what's going on out there but we who are in the Amway business, are serious determined business owners who are seriously wanting to help and change people lifes! I'm sure if I told you about Amway without you knowing that I'm driving a Jaguar, you would definitely not listen! Right? Well I guess you had your own way of creating wealth and I had mine. It's just that I don't need to continue to be exist and alive to get my money, unlike you who still needs to check your PC all the time. I already living a legacy of wealth, inheritance for my children and my children children's future  and only Amway can do that! Who else? Alright Sir, you are done (my hair-cut)."

I paid him for his service, smiled and walked out without saying a word. That was the hardest slapping to my face through out my adult life and his palms didn't even touch my cheek! I kept thinking about what he says for days and I came back to him pleading that he took me under his wings in Amway.  Don't ask me where in the ranks of Amway we are right now but I am glad to say I am earning a unsubstantial amount every month for myself.

For those of you who has already know what is Amway and had been a distributor of Amway but somehow died off doing the stuff. I really need you guys to re-think and RE-THINK! It's never about Amway marketing plans fault that you didn't make it, and never about Amway products too because they are the Best! Maybe it was you or your team leadership that can't make you progress and expand. My Team, we work by the guidelines and we are flexible too, yet unselfish! Being 'Unselfish' is an important trademark of an upline leader in MLM. 

join amway

What if I make you an offer to re-start your Amway business but this time under my team? Do you take this second chance seriously this time? Email me to find out more about the difference between us and other typical teams out there and how can you get sponsored under me, being locally or as an international sponsored distributor.

OR

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Passive Income = Residual + Leverage Income

Passive Income = Residual + Leverage Income

Do you want to continue working 50, 70, 100 hours a week the rest of your life?

Good! Neither do I.

Do you want to be able to take time off whenever you want to, without worrying about what’s going to happen to your business?

So do I!

Then you would really consider about having a Passive Income seriously.

There’s a saying in the corporate world:

“Don’t make yourself irreplaceable. If you can’t be replaced, you can’t be promoted.”

As an entrepreneur, this is still true in its own way. Let’s think of “being promoted” as earning more and working less. You can raise your prices, but until you can remove yourself from being directly involved in doing the work that generates the income, there’s always going to be a limit to how much you can earn, and it can only increase very slowly.

Passive Income

Passive income, on the other hand, is income that does not require your direct involvement. Some kinds of passive income you may be familiar with include owning rental property, royalties on an invention or creative work, and network marketing. If you want to earn more, work less, and have a decent retirement, you’re going to have to start creating income streams that do not require your direct involvement. Whether you’re just starting your business, or you’ve been running it a while, the sooner you start thinking about how you are going to shift your business model to create more passive income, the sooner you can achieve personal and financial freedom.

Let’s look at two basic types of passive income, and a third type of income that, while technically not passive, is a key strategy for earning more and working less.

Residual Income

Residual income is revenue that occurs over time from work done one time. Some examples include:

• An insurance agent who gets commission every year when a customer renews his policy
• A network marketing or direct sales rep’s income from her direct customers when they reorder product every month.
• An aerobics instructor who produces a video and sells it at the gyms where she teaches
• A marketing consultant who creates a workbook and sells it in e-book format on the Internet
• A photographer who makes his photos available through a stock photography clearinghouse and gets paid a royalty whenever someone buys one of his images
• A restaurant or retail owner who has grown to the point of hiring a trustworthy manager

As you can see, there are many different ways to generate residual income across a wide variety of businesses. It may be recurring income from the same customers, or the sales of a product to new customers. It may require no personal involvement whatsoever, such as an e-book sold on a web site, or it may require some personal interaction, such as the insurance agent calling the customer to remind them about their renewal and ask them if they want to change any of their coverage. Often, it’s something that you can delegate to an assistant.

Note that this is different from merely recurring income. Recurring income may still require your involvement to earn the income, e.g., a coach or consultant on a monthly retainer, or a caterer who delivers lunch every Monday to the local school board. While this “active recurring income” offers welcome stability, it also tends to tie you down, and you still have limits on your earning capacity based on your own personal production capacity.

Leveraged Income

Leveraged income leverages the work of other people to create income for you. Some examples of leveraged income include:

• An e-book author selling her e-book through affiliates who promote the product
• A network marketer who builds a downline and receives commissions on the sales made by people in his downline
• A general contractor who makes a profit margin on the work done by sub-contractors
• Franchising your business model to other entrepreneurs (the ultimate leveraged income)

Again, there are many different models in many different businesses. The key is that you are making money off of other people’s labor, rather than primarily your own. Note that leveraged income may or may not also be residual income. When you combine them, that’s even better.

Active Leveraged Income

This is a term I use to describe income that requires your direct participation, but that you can make more money by having more people involved. This generally involves a one-time event, such as:

• A seminar or class
• A conference or convention
• Concerts and dance recitals
• Raves and other parties

Although these require your direct participation, your earning potential is much higher than if someone were just paying you a direct hourly rate. Fill a room with 1,000 people paying $50 each and you can cover your facility cost, promotional cost, and staffing fees and still have a nice chunk of change left over.
Applying It

Now is the time to think about how to apply this in your business. Can you create a product that people will buy over and over again? Can you engage others to sell your product? How could you make money off the work of others?

The sooner you answer these questions, the sooner you’ll have financial and personal freedom. If you are still looking for it, Empower Network is the way that provide both Passive and Leverage Income. If you still not part of us, I couldn’t understand more as why you have the interest to read this blog this far. Join me and you will see!

Five Social Networking Sites Of The Wealthy

Five Social Networking Sites Of The Wealthy

In the real world, the average Joe watches the Red Sox-Yankees game from the bleachers while the affluent mingle in the corporate boxes. Everyday Eddie deals with parking and public restrooms during his day at the beach, yet the mega-rich drop their keys with the valet and settle into a reserved lounge chair at a private club.

Online, the waters are parting too.

Though it once seemed that the Web was the last place where status didn't matter, the elite are now looking for a comfortable place to mingle with like-minded people. They're leaving Facebook and LinkedIn to the riffraff.

In Depth: Social Networking Sites for High Society

"It's taken a while for wealthy consumers to start using networking sites, mostly due to privacy issues and concerns," says Milton Pedraza, CEO of the Luxury Institute, a New York-based research company that focuses on high-net-worth individuals.

"But now they want to leverage all those social-networking advantages. Before, they had the opportunity to network at annual international meetings, but now they can connect to like-minded people in Dubai or anywhere in the world in an instant."

According to a January survey by the Luxury Institute, wealthy-consumer participation in online social networks is on the rise. Of the 805 people surveyed (each with a minimum gross annual income of $150,000) in 2008, 60% of respondents said they participate in a social network, up from 27% in 2007.

Participation levels for the wealthy in leading social networks were 16% for MySpace, 13% for LinkedIn and 11% for Facebook. On average, a wealthy person has membership in 2.8 social networks with an average of 110 connections. Unfortunately, according to Pedraza, too many invites, "pokes" and unrequited connections, coupled with the leaks in privacy, make exclusive sites more alluring.

A new breed of social site 

The wealthy are instead heading to a new crop of ultra-exclusive social networks that have blossomed over the past few years, such asaSmallWorld, which launched in 2004. This year also saw the launch ofDiamond Lounge and Squa.re.

Some networks come with strict invite-only policies and a rigorous application process based on education, job title, connections and lots of virtual velvet rope. Others, such as Squa.re and Quintessentially, are more lenient, requiring simply an invite from any existing member.

ASmallWorld, by far the most well-known and well-attended site for digital A-listers, was launched in March 2004 by former Lehman Brothers banker Erik Wachtmeister. Born into a diplomat family (his father was the Swedish ambassador to the U.S.), Wachtmeister started networking at an early age.

"I realized there was an existing community of people who are connected by three degrees of separation: They stay at the same resorts when they travel, frequent the same restaurants and have similar lifestyles. They needed a platform to share and receive information--it was a huge untapped opportunity," Wachtmeister says.

ASmallWorld has grown to include 320,000 members globally (Facebook boasts 40 million, by contrast) with 65% of the members in the U.K., Italy, Germany and France and 20% in the U.S. The rest are sprinkled throughout the Middle East and Asia. Wachtmeister's site has been even called "MySpace for millionaires" by the Wall Street Journal. But Wachtmeister maintains that aSmallWorld is a niche community that doesn't allow self-promotion or aggressive networking.

Once invited to join the network (only selected members with a sturdy Rolodex are given invite powers), a member can browse the market guide (a high-end Craigslist where there are currently 500 member-listed yachts for sale), surf the luxury-travel guide and global-event guide, or participate in forum discussions--one of the site's most active and popular functions.

"Anyone with good lawyers in Phuket, Thailand?" a member recently asked on aSmallWorld's forum. He continues: "I'm building a sustainable-apartment development and need some U.K.-Thai contracts written up for an investor."

Another writes that she's "looking for recommendations for the U.K.'s and/or Europe's top cosmetic doctors to perform liposuction or the fat-dissolving laser treatment."

Participating in the forums and access to the site is free, supported by advertisers such as Cartier, Moet & Chandon and Patek Philippe--all lured on board by the guarantee of targeting a luxury-obsessed audience.

Striking a balance 

Others are jumping on the bandwagon too, but finding the balance between staying exclusive and making a profit is a big challenge.

Case in point: The newly launched DiamondLounge.com. Significantly smaller, with only 150 members, the company has flip-flopped between fee-based and free, and has shifted its focus from business networking and social site to dating and fun, "like an online club," says owner Arya Marafie. He says a slow and controlled growth in these early days is critical to the site's long-term success.

"We spent a tremendous amount of time making sure that we selected the right club members, because these are the people who will invite the next group," says Marafie, adding that most of those hand-selected people are CEOs, lawyers, directors or doctors. But Marafie admits that this mix will most likely change as the site switches to a party-like environment.

"Being wealthy won't automatically get you in the door," says Marafie, "You have to be interesting and bring something to the table." He says the average age of his members is 35 to 40, significantly older than the MySpace or Facebook demographic. However, according to a study by comScore Media Metrix, 68% of the 55 million MySpace users and 50% of Facebook's 15 million users are now 25 and older.

Are you a member of a high-end online social network? Is it worth it? Add your thoughts in the Reader Comments section below.

Next month, the Luxury Institute is also launching a network catering to the affluent. For an annual fee of $250, LuxuryRatings.com will offer access to member ratings of several different types of service providers, from wealth advisers to art dealers to yacht brokers. The fee eliminates the need for online advertising, which, Pedraza says, would be a conflict of interest.

Will it work? 

"People are unhappy with the free-for-all at LinkedIn and Facebook and MySpace. They are looking for a specialized group to mingle with, and paying a fee weeds out the ones who don't belong," says Chris Curtis, director of Web Business Ownership LLC, a Delaware-based Internet consulting company.

"Exclusive sites are becoming more prevalent because not everyone is willing to network with people they don't know," she adds. "It provides a more formal type of introduction within a closed circle. [The networks] have staying power, but only if they listen to the needs of the society that they are creating."

But do the rich and successful have time to be searching the Web and schmoozing? "If it's worth their time, yes," says Pedraza. "I know people who are building a yacht, and peer-to-peer insight about where to go and who to work with is the sweet spot."

Getting to that spot, however, is the challenge. If you want to be inside these clubs, aim for one of the more lenient ones that require an easy-to-find invite where all members have invite powers. Choose carefully, though, because just like in high school, once everyone can join the cool club, it's no longer cool. The alternative is to pay the yearly $250 dues to join a site such as LuxuryRatings.com.

But if you're looking for an invite from the more exclusive groups, you simply have to know someone who matters.

"If you don't know anyone in the group, maybe it's not quite right for you," says Wachtmeister.

by Nicola Ruiz, Forbes.com