My1DollarBusiness Review – Is This A Good Opportunity Or Big Scam?
In the last few weeks, My1DollarBusiness has been getting a lot of attention in the network marketing circles.
With all this hype, I am sure you have seen some of your friends trying to sell My1DollarBusiness in your social media feeds.
The first thing you need to know is that I am NOT an affiliate or distributor for My1DollarBusiness.
I wanted to gather all the information about My1DollarBusiness in my My1DollarBusiness Review in order for you to make a decision about joining My1DollarBusiness.
Is My1DollarBusiness legit or a scam?
Will it be able to deliver on it’s promises to you?
Let me show you in my unbiased review of My1DollarBusiness.
Read on to find out what you need to know.
What The Heck Is My1DollarBusiness?
My1DollarBusiness is a new MLM company that was founded by Steve Gresham. Based in Georgia, Gresham has a history of being involved with similar organizations, having previously founded a very similar scheme in 2012 called Savings Highway. This was a recruitment scheme that rewarded affiliates for their ability to recruit new members. According to Alexa ranking, Savings Highway has been pretty much dormant for the whole of 2016, which would imply that it has collapsed- something that would explain why Gresham has decided to launch My1DollarBusiness. With very similar offerings to Savings Highway, My1DollarBusiness is its spiritual successor.
What Are The My1DollarBusiness Products?
The opportunity being offered by My1DollarBusiness focuses on the recruitment of new affiliates. There are no products for direct sale to customers. Included within the membership, however, are a series of benefits that include roadside assistance, a concierge, a worldwide travel program and various other perks.
As a member you will also gain access to
“a wonderful store for you to refer customers to where they purchase a variety of in-demand products and services including health, beauty and hot technologies.”
It is worth noting, however, that this store is not run by My1DollarBusiness and is provided by a third party operator.
What About The Compensation Plan For My1DollarBusiness?
My1DollarBusiness offers different methods for affiliates to earn commission, all of which are based upon a 2×10 matrix structure.
Each affiliate is required to purchase a $1 position in this matrix per month. A 2×10 matrix is created by placing the initial affiliate in a position at the top of the matrix. Beneath them are two further positions, which form the first level. Each position on the first level is split into a further two positions beneath, and this forms the second level. This process continues until the tenth level has been formed and in total houses 2046 positions.
Direct Recruitment Commissions
For as long as an affiliate is paying their $1 per month fee, they will receive 20 cents for every affiliate that they recruit to My1DollarBusiness.
Affiliates receive a residual recruitment commission of 5 cents per month for each affiliate that is placed within a position of the 2×10 matrix. To receive this you must have recruited at least two new affiliates, and have paid your monthly $1 fee.
By paying larger amounts per month, My1DollarBusiness allows you to earn higher levels of commission:
- Phase 1 costs $10 per month and entitles you to $2.50 for every affiliate you directly recruit, and 50 cents for each one placed in your matrix
- Phase 2 costs $20 per month and entitles you to $4 for every affiliate you directly recruit, and $1 for each one placed in your matrix. You must have at least ten affiliates placed in positions in your matrix to reach this level.
- Phase 3 costs $50 per month and entitles you to $10 for every affiliate you directly recruit, and $2.50 for each one placed in your matrix. You must have at least twenty affiliates placed in positions in your matrix to reach this level.
- Phase 4 costs $100 per month and entitles you to $20 for every affiliate you directly recruit, and $5 for each one placed in your matrix. You must have at least fifty affiliates placed in positions in your matrix to reach this level.
Affiliates of My1DollarBusiness who are at Phase 4 and have recruited at least ten further affiliates who have done the same will receive a vacation, which is ‘valued at $1899’.
Any My1DollarBusiness affiliate who has reached Phase 4 and has recruited at least one hundred others that do the same will receive a share in the company-wide membership fees.
Super Affiliate Vacation
Once a My1DollarBusiness affiliate has recruited at least one hundred new affiliates with at least fifty of them being at Phase 4, they will receive the Super Affiliate Vacation which puts $2,899 towards a holiday for two people.
What’s The Cost Of Joining My1DollarBusiness?
To remain eligible to take part in the scheme, My1DollarBusiness affiliates must pay a minimum of $1 per month. To fully participate in the opportunity will cost $181 per month.
So, Is There A My1DollarBusiness Scam Going On?
Have you been hearing rumours that My1DollarBusiness is a scam?
After reading this review, you might still be asking yourself if it is really legit.
So – what is the truth? Is there really a My1DollarBusiness scam going on?
If I am being perfectly honest, My1DollarBusiness isn’t entirely a scam.
However, there are some things you need to watch out for.
This is how you will be successful in online marketing. See the image below for details.
Finally, My My1DollarBusiness Review And Conclusion!
Despite their attempts to appear as something different, My1DollarBusiness is structured as a pyramid scheme. It is taking the payments made by newer members to pay what has been promised to the existing members. This structure is simply unsustainable in the long run (something that Gresham learnt with his previous attempt at the same thing) and, while benefitting those at the top, will con a lot of people out of their money.
My1DollarBusiness will fall victim to the same problems that Saving Highway suffered from- namely the inability to continually sign up new affiliates. There’s a finite number of potential members to a scheme like this, and a continually multiplying number of members required to sustain the ones that have already signed up. Eventually the recruitment will slow down to a point where the affiliates in the lower parts of the matrix stop receiving any commissions. When this happens, they will see no chance of earning back their monthly fees so will stop paying, something that compounds the effect even further. This will work its way up the matrix and result in a complete collapse of the scheme with nowhere near enough income to support the commission payments required. When the company collapses, those that haven’t made a profit will lose out. As with all of these schemes, the majority of members will find themselves in a losing position, with only the owners and a select few early members being able to turn a profit.
Schemes like My1DollarBusiness are set up to convince you that you can make serious money, but in reality they are solely designed to benefit the owners. Gresham has done this before where he signed up numerous people that trusted him that ultimately got conned, he is doing it again with My1DollarBusiness, and will likely do it again once this one has failed. It is completely possible to run a sustainable MLM by adding alternative revenue stream beyond affiliate fees. My1DollarBusiness, however, is not one of these and you should be extremely careful before considering handing over any money to them.
I really hope you have gained value from my My1DollarBusiness Review.
I wanted to make sure you had all the information you needed, because most other My1DollarBusiness reviews are just trying to sell you something.
If you really do decide to join My1DollarBusiness, I want you to succeed with your business. Learn how to market yourself properly!
My training can help you make money online!