Oh, the humble brag.
If there’s one industry that’s mastered the art of showing off how amazing you are sheathed in a thin, see-through layer of humility, it’s definitely MLM.
But this company takes the humble out of humble brag and comes straight out the gate with outlandish claims, from the ad that tells you to simply watch a video and they’ll give you $500, to waving the word millionaire in front of your face right in the company’s name.
Have I been involved?
This video explains everything:
Make sense? Here’s the full review on My Millionaire Mentor.
Overview
My Millionaire Mentor is covered in multiple layers of very obvious, see through curtains.
First of all, it’s yet another rebranded MLM. In the past, they’ve also gone by the name of My Online Business Empire and My Top Tier Business, although they haven’t changed a thing aside from their name. Smells like secrets.
On top of that, their supposed original founder Ryan Mathews appears to not exist at all outside of My Millionaire Mentor. Pretty odd that someone who is supposedly a successful business person with extensive knowledge in digital marketing (the product of this MLM) would have no internet presence.
Since the company’s original promotional videos showed no actual video or photographs of the founder, just a voice over that sounded like an actor, a lot of people have guessed that Ryan Mathews was just a made up pseudonym for the actual founder, Matt Lloyd, the man behind the original iterations of the company that eventually gained terrible reputations. Really, the stench of secrets is overwhelming here.
The promotional video on their homepage is incredibly cheesy. It looks like it was patched together by amateurs offering cheap labor, and in fact, some people have even claimed that they recognized people as actors on Fiverr who sell testimonial services. That’s probably where they bought the voiceover of “Ryan Mathews” that is almost certainly not actually Ryan Mathews.
How much does My Millionaire Mentor cost?
This is where this company goes from obnoxious to downright sleezy.
A lot of people get involved with My Millionaire Mentor after stumbling upon their $500 Guarantee. Basically, you have to pay a $49 start-up fee, but you’re guaranteed to make your money back in 30 days, and told you’ll likely make $500 or $1,000 in that first month.
$49 isn’t a bad start-up fee, especially if there’s a 30-day guarantee in place. Here’s the catch…UPSELLS.
As soon as you pay the start-up fee, you’re told that in order to make any money at all, you also need to buy a reseller’s license. How much does this license cost? About $2,500.
And to qualify for the 30-day money back guarantee, you need to follow their 21-step program perfectly, which includes shelling out over TWO GRAND for a reseller’s license.
They also try to upsell you on their training products, which cost upwards of $30,000. No, that’s not a typo. Yes, it is insane.
So the real start-up cost? AT LEAST $2,500.
Products
Here’s the real kicker: they don’t have any!
Just when you thought this MLM couldn’t get any more ridiculous. When you click to check out and pay the $49 start-up fee (which will quickly add up to 5-figures), you’re redirected to a checkout page on the My Online Business Empire website. Basically, all of My Millionaire Mentor is just a funnel to lead more people to another company, namely MOBE.
MOBE sells mediocre, unnecessary online business education products at criminally insane prices. I’m talking thousands to tens of thousands of dollars for information that you could probably find online for free.
They’re not the first MLM to sell high-end digital marketing products. I’ve reviews several, Digital Altitude being one of the most popular. But at least Digital Altitude offers some value with their incredibly expensive products.
Of course, the content of their educational products isn’t the point, because all the money they’re making, and all the money their top earners are making, is just money they’ve siphoned out of newbie sign-on and “reseller’s license” fees. Ah, MLM at its finest.
Opportunity
They’re not forthcoming about the exact details of their commission plan, but its basis is that reps purchase their incredibly expensive products and then resell them at an even more incredibly expensive price for a pretty sizeable profit.
That’s right, you have to buy a product before you can sell it.
This is a bad enough deal with cosmetics and health MLMs that sell overpriced mascara or nutritional supplements. But at least with them you’re only losing a few hundred.
MOBE’s products cost THOUSANDS. I don’t know about you, but there’s no way I would drop $30,000 on a useless product on the chance that I might be able to resell it to someone with a 5-figure price tag.
And as you can see from their income disclosure, it’s working pretty poorly for almost everyone involved. Their average consultant makes under $250 a year. That’s pretty sad, even for MLM. [1]
Recap
A lot of the companies I review have some shady practices, but My Millionaire Mentor is a bonafide scam.
They’re not up front at all regarding the start-up costs, pulling a bait and switch on people after they’ve already shelled out $49. And I’m not surprised, because their actual start-up costs are some of the highest I’ve ever seen.
If that wasn’t bad enough, they don’t even have a product. Or, from what I can tell, a real person operating the “business”, which is actually just a funnel website.
If you like automated ways to build passive income, there are much better ways.
(and you can trash those old MLM habits, too)
via http://mlmcompanies.org/my-millionaire-mentor/
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