What is My 1 Dollar Business about? Is it for real? Can you really start out with just one dollar and make some serious money? Or is it just a gimmick?
Let’s take a look at it…
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Company Name: My 1 Dollar Business
Owner: Steve Gresham
Price To Join: Starts at $1
My Rating: 6.5/10
~ My 1 Dollar Business Review ~
What Is My 1 Dollar Business About and How Does It Work?
Steve Gresham launched this idea in late 2016. It certainly sounds attractive, the idea of getting rolling in a money making platform for just $1, but is that really how it works? Will we be making just a couple of bucks extra, or can this produce decent cash?
Steve claims that you can save money while at the same time building a business that is profitable. By simply recruiting just 2 people it’s possible to build up your income with Steve’s system to $10k a month or more.
Sounds like a lot of moolah for $1 and 2 recruits.
My 1 Dollar Business is based on a MLM system and is a money matrix. You would have likely seen similar programs around, especially promoted on social media. These money matrix scheme are everywhere these days.
Another way to make money online is with affiliate marketing. It's what i do. You can learn how by following the Wealthy Affiliate training. Join for FREE!
The Products
With systems like this one the products serve the purpose of giving legitimacy to the existence and legality of running a money matrix, but really the matrix is what it’s all about.
But anyway, the products do have some usefulness and are more designed to save people money. They include things like:
- 24 hour roadside assistance
- Vacations
- Tax deduction software
- Worldwide travel program
- And more…
As you advance up the levels of the matrix, the more products you unlock. Some of the products are offered as bonuses for achieving a certain status within My 1 Dollar Business.
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The Compensation Plan
I always find the compensation plans in MLM a bit confusing, but let’s take a look.
Being a 2×10 forced matrix you can only ever have two recruits directly below you, 2 under them and down to the 10th level. That creates a maximum total of 2046 people in your matrix downline. Your direct recruits get you a 20% commission and you earn 5% on all other recruits that your downline bring on board.
Each phase is a new matrix and there are 4 separate matrices that you can get involved in and attempt to fill. It will take a lot of recruiting to fill them all, but at only a $1 entry fee into the matrix, at least the joining fee won’t be putting anyone off.
With each of the 4 phases you need to recruit a certain number of members and also purchase a monthly subscription to one of the products on offer. In order to advance to the next matrix you have to fulfil criteria within the previous matrix.
In the lists below I’ll mention what you can earn and what you have to spend.
- Phase 1 – Spend $10 a month on product, earn $2.50 on your 2 direct recruits and $0.50 on all other recruits in the matrix.
- Phase 2 – Spend $20 a month on product, have a minimum of 10 recruits in your previous matrix, earn $4 per your 2 direct affiliates and $1 for all other recruits.
- Phase 3 – $50 a month and 20 recruits in previous matrix, earn $10 per direct recruit and $2.50 for all others.
- Phase 4 – $100 a month, 50 affiliates in previous matrix, earn $20 and $5 for all other recruits.
On top of this there are bonuses, such as 7 day vacation packages and hotel accommodation.
Target Audience
This targets anyone, really. Some people love these money matrix systems. This one requires a fair bit of recruiting, but it’s quite cheap to get involved. Anyone who is looking for a way to make money online without breaking the bank will be attracted to this. If you have large followings on social media, all the better.
The Pros
- It’s cheap to do
- Some of the products do offer genuine savings
- There is actually more scope to make money with this matrix system
The Cons
- Despite the products, it’s still based on a Ponzi scheme of sorts, meaning it can’t sustain itself indefinitely, as new investor money is required to pay older investors
- No retail sales at all
- No access to the site without a referral
- No real training on how to recruit and grow your downline
How Much Does My 1 Dollar Business Cost?
$1 is all you need to get started. The costs per month will go up as you advance, but so will your earnings to offset those.
Is My 1 Dollar Business a Scam?
It’s not an outright scam, but it still follows the Ponzi/pyramid system. It likely won’t keep going as new recruits are constantly required to sustain it or no one will get paid. Someone always misses out of a ROI in these things. Still, for a $1 to get started it can’t hurt to take a look.
My Favourite Way To Make Money On the Internet
While the above money matrix might be worth looking into, I prefer to establish more financially sustainable and long-term money making ventures online. One of my main income earners is affiliate marketing. I like it because the concept is just so simple and it’s very cheap to set up and run. I also get to work for myself, set my own hours, take days off if I want, travel whenever I like, make money while I sleep and the list goes on and on.
I have a number of things going on online, but affiliate marketing is my main gig. I’ve been doing it for a few years now and it’s growing all the time. With a global audience to market to, promoting affiliate offers is only going to increase.
The reason I’ve been able to be successful at this is due to a commitment to succeed, putting the effort into the business, as well as first seeking out quality training that showed me how to do it right.
If you would like to do what I do and establish a profitable online business that grows bigger every month, then check out the training I did.
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Darren Burton
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Darren,
Great review, it certainly does look like a Ponzi scheme that must eventually collapse. However, the ongoing monthly commitment may let it continue a littler longer that most. The thing that struck me was that you could only have 2 recruits under you. doesn’t that make it exceeding hard to build a down-line? If one of your recruits doesn’t recruit anyone, your stuck. But even if they do you have to hope that those two each recruit and that goes on down the line. If one person in the down-line is a dud, you lose that entire leg?
It is kind of set up like a Ponzi scheme, but it does have real and useful products to a point. It’s not as bad as some others I’ve seen, hence a higher rating. The hard part about schemes like this is the constant need to recruit. That’s where most people fail and why these schemes can never last.