myEcon Review – Is This A Good Opportunity Or Big Scam?
You may have noticed that myEcon is getting a lot of hype and attention these days.
You might have had some friends in Network Marketing approach you about myEcon, or you may have seen it on social media.
I want to let you know, first of all, that I am NOT promoting myEcon as my own business opportunity. I am not an affiliate or distributor.
I have gathered here all the facts about myEcon in my myEcon Review – now you can learn all you need to know about it.
Is myEcon really a legit business?
Is myEcon a safe business to join?
Let me show you in my review of myEcon.
Get started by reading my review below.
Exactly What Is myEcon?
On the official myEcon website, the company claims to be a “personal financial success company.” Furthermore, it’s stated that myEcon is being run out of Atlanta in the United States.
myEcon was founded back in 2005 and is currently being led by CEO Larry Gates.
Gates has a corporate bio on the myEcon site, and it claims that Gates has:
“20 years of experience in communications, marketing and business operations.
Mr. Gates also has great people skills having spent several years in the financial services industry.”
According to a blog post that was first published in 2009 by Michael J Smith, myEcon was founded by Alvin Curry and Ivey Stokes.
Curry is cited as being the President and Owner of myEcon according to his profile on LinkedIn, with Stokes using the platform to credit himself as myEcon’s Executive Vice President.
Despite that information, you won’t find any mention of these two men anywhere on the myEcon site:
“myEcon, Inc. is a privately held, debt free company based in Gwinnett County, GA, a suburb of Atlanta. The company was founded by a small group of entrepreneurs in 2005.”
As for the happenings of Stokes and Curry before they started myEcon, the two individuals were acting as Chairman and CEO of Maxxis Group, respectively.
Maxxis Group is another MLM opportunity that first launched in 1998, but in 2003, filed for Chapter 7 bankruptcy.
Going back to myEcon, October 1, 2016, saw it and Novae go through a merger. A September 30 press release from that year reads as follows:
“myEcon and Novae’s executive teams will begin efforts to blend corporate leadership.
Over the next several months, the companies will continue to take steps to integrate systems, marketing, organizations, and culture to create a huge conglomerate that will change the lives of millions across the country.”
Without further ado, here’s the opportunity you’ll find today with myEcon.
What Is The myEcon Product Line?
On the product line side of things, myEcon markets the following:
“myEcon’s Financial Success Membership includes a Cashflow Manager Software, Identity Theft Protection, Free & Discounted Legal Services, Tax Advice Service & Preparation, and Identity Theft Prevention.
Novae will add Novae Perks, Novae Library, and Novae Travel to this membership and at no additional cost to current myEcon and Novae IBOs.”
You can purchase all of these services individually from myEcon, with some of the pricing working out as follows:
- $10.95/month for Cash Flow Manager
- $7.99/month for ID Defender
- $13.95/month for Family Shield 360
- $16.49/box for Aloe Gano Black Coffee
- $16.99/box for Aloe Gano Rooibos Tea
What Can You Tell Me About The Compensation Plan For myEcon?
When it comes to myEcon’s compensation plan, the company actually doesn’t share a full copy of this. Instead, the following breakdown of the comp plan is based on a document from 2016 that I was able to track down.
myEcon promotes six different affiliate ranks that members can climb through, and to get higher ranks, you need to pay more each month and keep recruiting more and more people into myEcon.
Recruitment commissions play a big role in the money you earn, with commissions starting out at $25 per recruit and work their way up to as much as $50.
myEcon also offers residual recruitment commissions in which you can increase your income as other affiliates you’ve recruited begin recruiting members of their own, too.
What Will It Cost To Join myEcon?
If you’re interested in joining myEcon, you’ll need to purchase one of the two “affiliate packages” that are being promoted.
Sales Associate is the cheapest of the two, costing $80 upfront and then $10/month afterward.
You can also purchase the Marketing Director package that costs $179.95 and then $34.95/month.
Is myEcon A Scam?
If you have heard that myEcon is a scam, then you’ve come to the right place to find out the truth.
What’s the truth – is myEcon a scam?
I would say no. However, there are some things to be aware of before joining, which I have detailed in the conclusion.
You will only be successful by recognizing the weaknesses and finding a way to move past them.
Conclusion For My myEcon Review
I definitely hope you have found value in my Review of myEcon.
I went into a lot of detail so that you can make a proper decision about whether you want to join or not.
If you do decide to proceed with myEcon, make sure you take the time to learn how to market yourself!
My training below can help you with that.