This business launched on Feb 2nd 2016, there has been quite a lot of interest in the business, so I thought I would see what all the fuss is about.
The My Modern Income Review will help you to dispell all of the information that you can find out there and get to the nuts and bolts of the truth.
Hold onto your hats
Product Name: My Modern Income
Website url; https://mymodernincome.com
Cost: $20 for one coupon.
Rating: 0 out of 5
My Recommendation: My Modern Income is yes another advertising solution that has recently emerged. But it’s not a very good one and it’s unlikely to make you a fortune. If you want a way to build a reliable long term profitable online business, read my top recommendation.
What is My Modern Income?
The first thing I always do when I am researching a new start up is to find out something about the owners, and check out their history to see if there is a track record that you can trust.
Nothing. There is nothing on the site and nothing to be found about who could be the owners. There is some dubious forum posting about how the owner is Pier-Luc Morin who previously owned Adznation. Guess what, this business is no more and lasted less than a year…
So this is the first worry. I would always say don’t invest in anything until you know the owners and the history.
The big thing about My Modern Income is the coupons.
Lets’ see how THEY put it:
My Modern Income is the most complete online advertising solution that brings you the powerful combination of crowd funding and network marketing. We help start up companies by raising funds for their advertising budget, and help you get the benefit of receiving commissions in return.
Ok, pretty general. They talk about being a marketing partner that provides solutions… but what sorts of solutions? Are they helping you drive traffic to your website, get leads, design your banners and advertising materials, or are they JUST talking about helping you raise money?
It’s really not clear. The solution to your marketing problems is the coupon... So they say.
I don’t know if it’s the wording here that is throwing it off, surely it should be:
You buy a coupon, we create ad campaigns for YOU, we keep a % of your sales, You get weekly commissions based on your and other partners sales (from the pot). Otherwise there are no tools helping you with YOUR business problem? or am I missing something?
It’s all about recruiting. Beware, we are entering Pyramid territory.
The weakest hint of a product tells you that with every coupon you buy you get a selection of advertising credits, which can be used to display advertising on the My Modern Income website itself. How many visitors do they expect to have, and won’t the entire site be totally cluttered with 1000’s of adverts? I can’t see much value in this.
How do you make Money?
So we are back to the coupons. With a value of $20, when you purchase one of these they can be worth up to 150% of their value.
If you opt to pay for an annual membership fee of $500 you can boost this number to 200% return on your investment for each coupon that you buy (still worth $20).
In addition if you pay this annual feel you are entered into a weekly bonus pool, made up of 10% of company-wide coupon investment.
My Modern Income uses a Unilevel MLM compensation plan which in a few words means that you can recruit as many people under you as you like, you are not restricted and this means that their commissions come directly to you. This way you get the most commission from the people you personally sponsor.
See the video if you want to know a bit more.
So you can go as wide as you like but it only goes 4 levels deep with the commissions being paid out as follows
- Level 1 – 10% commissions
- Level 2 – 3% commissions
- Level 3 – 2% commissions
- Level 4 – 5% commissions
How much does it cost to join My Modern Income?
The minimum cost is the cost of a coupon at $20. So you can have as many of these as you like
Or you could pay the annual fee of $500.
Well, this is definitely the shortest review I have ever done. There is very little information out there about this business and the time of writing this My Modern Income Review, they were still in pre-launch. I will come back and update this review once the business has or hasn’t got some traction.
The business model is very unclear and what they ACTUALLY offer as a product and how the coupon system works is unclear.
But I have done my fair share of business opportunity reviews and review of MLM compensation plans, and I have to say I smell a rat with this one. I don’t think it will do well out of the gates and only time will tell how long it lasts!
I wouldn’t want to be involved in this business from the start that’s for sure!
If you are sick of the same old scams out there with flaky business plans that you can see won’t last, what you need is to learn how to build a true profitable and sustainable online business. Try my No 1 recommendation for training, and build a business that works.