Honest Review of the MyMoneyFish Home Based Business Opportunity
MyMoneyFish is a home-based business opportunity that recently launched on February 3, 2010. I wanted to provide you with my honest review of the business, if you are investigating joining, so that you can make an informed decision. I will break my review down into 3 sections: Products, Cost and Compensation, Summary.
THE PRODUCTS: With MyMoneyFish, you have access to over 3,000 marketing productivity tools – software and e-books – in your back office. All of the products are digital and can be downloaded to your computer. Also, a nice feature is that all of these products come with Master Resell Rights which can provide you with an additional income stream. Some of the products include an Autoresponder, website creation software, splash page software, numerous educational e-books, and more. While there are many programs that offer junky digital downloads, I think that MyMoneyFish separates themselves and actually offers value probably because of the volume offered. Many of the products are really good.
COST & COMPENSATION: This is where MyMoneyFish separates themselves from many of the other similar looking home based business opportunities on the net. The cost is only $9.95 per month…extremely inexpensive. Generally these types of programs, in my opinion, are not worth the effort because I believe that you get what you pay for. The matrix makes this program unique and more profitable than the others if you work the business. It’s a 10×4 matrix. You need to recruit 10 people into your team in order to be qualified to earn commissions. Once you do, you are qualified for life. Anyone you recruit above the required 10 will spill down to help fill the matrices of your team. I never recommend that anyone rely on spillover, but it is a very real possibility. The matrix is only 4 levels deep which, in my book, allows you to have greater control of your earnings. Your commissions are residual at $2 for every person in your matrix, whether they are on your first level or your fourth level. This does not sound like a lot but it really can add up quickly!
SUMMARY: The program is inexpensive so it has mass-appeal. In my opinion, it is worth the low-cost and can either be used as a secondary program to promote to your prospects who are on a budget or as a primary program to provide you with a residual income that can grow over time. You will need to market yourself and your site in order to build your team. As long as you do this, MyMoneyFish can be a profitable business for you. As with any residual income program, you cannot really stop marketing because people will leave the business. Work with your team closely to limit your attrition rate.
So, in conclusion, I feel that MyMoneyFish is not a scam but a legitimate home-based business that I know is paying out commissions on-time. The products are useful and can be resold for added income. The site is clean and easy to navigate, there are plenty of promotional tools and marketing ideas in the back office. The matrix is very simple and potentially lucrative. Just remember that marketing your business is always the key to success in network marketing, no matter what business you are in.