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It's easy to do. Costs very little and requires a trivial amount of effort to maintain. In fact, it takes no training at all. Even out of work retired lobster workers can do this, in their spare time. (Which actually, they would have plenty of)
Then what's the catch?
Let's look at these claims one at time...
1. It's simple and quick to build (TRUE)
Creating a website has become a simple task that can be done by anyone with enough skill to setup a Facebook account. This is one of the reasons that "website builders" can be easily found for $20/hour.
2. Costs very little (TRUE)
You can get a domain name for $10 and a hosting account for a few dollars per month. Open source software like Joomla and Wordpress cost nothing to install. (More info about buying a domain name and hosting it)
3. Tiny effort to maintain (50/50)
Depends a bit on the definition. Maintenance means two things: a.) Updating and adding content and b.) Updating the software. The first one can be simple, just as it is simple to add content to any social networking site like Facebook or MySpace. The other one, making sure the software is working properly, that's not always a tiny effort.
4. No Skills Needed. Anyone can do this (FALSE)
Nothing of any substance can happen without some skills. But does it take lots of formal training? Not at all. If you are comfortable learning new things without being in a classroom, you can start this today.
5. Make Large $ Instantly, 24x7 (FALSE)
The 24x7 part is correct, as your website never rests. It's the "large" and "instantly" that makes this false. You can make money quickly, but it will not be large. You can make large money, but it will not be instantly.
The key to internet wealth is TRAFFIC. Just like in the real world, getting people to visit is the first step to making money. If you have no visitors, then you'll have that many customers. Want more customers, get more traffic. This is the tricky part of #4 above. You need content that people care about.
What to do first? Answer this question:
What do you have that others want?
When you have that, then you're ready to To Build a Website That Generates Instant $
