One of the latest internet money making opportunities to hit the market is My 24 Hour Income. Though it was launched recently, there are good chances that you have already heard of this new rev share program that promises high gains to its members. It is natural to be cautious about any new money making scheme on the block, and that’s the very reason why you are here today. So let’s take a look at what My 24 Hour Income is all about and how can you gain from this program.
My 24 Hour Income is a rev share program which was launched on 14th August 2016. The website domain was registered on 27th June 2016, and the person behind this new offering is Derek Burton. He is one of the known names in the rev share industry and is based out of Ontario in Canada. Derek has a good reputation in the market, and has been a leading recruiter for many affiliate programs. He later decided to come up with his own rev share program, though we are yet to see how successful it would prove to be.
What Is a Rev Share Business?
A rev share is an online business that offers its affiliates the platform to advertise their business or products online through the purchase of ad packs. The main reason that attracts buyers is that they are able to earn a percentage of the revenue with each ad pack they buy. If done well, rev shares can help you earn hundreds of dollars every week. However, this needs good marketing skills as well as a fool proof strategy. It is true that rev share businesses are not without their share of risks because your success would depend on the integrity of the owner and the success of the company in the future.
What is My 24 Hour Income?
My 24 Hour Income offers ad packs to its affiliates, as well as the opportunity to sell their products via their back office. There is no membership fee required to join this program. My 24 Hour Income offers four types of advertising packages to their affiliates. Adpack 1 costs $5, Adpack 2 costs $15, Adpack 3 costs $35, and Adpack 4 costs $75. The maturity levels and number of ads differ based on the price of the package. Each sale brings a 12% referral commission to the sponsor.
The fact that My 24 Hour Income also offers affiliate products makes it different from the rest of its ilk because rev share programs generally don’t come with any retail products for their affiliates to promote and sell. This looks more like an attempt to add a legitimate stamp to the program, but the truth is that majority of the income from My 24 Hour Income comes from adpack purchases by members. This puts it in the danger of being labelled as a Pyramid or Ponzi scheme.
How Does It Work?
You would need to buy an adpack to start earning from this program. In fact, you can buy as many packs as you want before you start clicking the daily ads. Do note that you need to click at least 8 ads in a day to earn a percentage from the packs you purchase. As mentioned above the earnings would vary based on the adpack purchased.
Heavily Relies on Number of Sales Made:
Though My 24 Hour Income is marketed as something different from other rev share programs, the truth is that even this program like the rest is entirely dependent on the number of sales. The profit to be shared with the members is based on the profits made for that particular period, which for My 24 Hour Income is hourly. So for instance, if there are no sales made in a particular timeframe, you would most likely end up with nothing.
Purchasing an Adpack Doesn’t Guarantee Profits:
In continuation to the point above, no matter how many ad packs you purchase, if the company is not making profits, you cannot expect anything to get added to your kitty. So in case you were thinking that My 24 Hour Income is better than the other MLM type opportunities, you might be right but it is not a sure shot way to earn those huge sums of money.
Not a Sustainable Business Model:
Rev share schemes can look very attractive and provide some good gains in the short term. However, most of these programs are not able to sustain themselves in the long term. As soon as the sale of ad packs go down or fewer members start joining, all sorts of issues start cropping up. In general, most of these rev share businesses are not able to sustain themselves beyond 5-6 months. As for My 24 Hour Income, it is too new a program for anyone to guarantee its success or longevity. Hence careful consideration is advised before joining the program.
There are no Refunds:
This is true for almost all rev share programs. Once you buy an adpack, you can’t claim your money back. So even if you decide not to use the ad space allotted to you, there is no way to get back the money you originally paid. In short there is no refund. You can of course withdraw the earnings made on the adpacks from your My 24 Hour Income account. However, you need to remember that if your rev share company is not able to sell enough adpacks, its revenues will dry up and that means zero income for you. So when you decide to buy an adpack, you should do so with the understanding that might or might not earn you the promised money.
Too new a Company:
A concern that has also been raised earlier in this article, My 24 Hour Income is too new a company. So we are not sure if it will be able to sustain itself in the long run. We are not saying it won’t succeed, but it has not passed the litmus test yet. So for those who are new to rev share opportunities, it is advisable that they choose a rev share company that has been around for some time. This lessens the chances of your hard earned money getting lost due to no sales or profit.
Does not have the Securities and Exchange Commission (SEC) nod:
The business model adopted by My 24 Hour Income is considered to be a Ponzi scheme by the Securities and Exchange Commission. The fact that all returns are funded by contributions from new investors makes SEC tag such businesses as Ponzi schemes. There is a possibility that such programs might get shut down soon, and you might not be able to recover the money you invested in the first place.
No Withdrawals Allowed Without Buying Their ad Services:
For those who would just like to earn money through the referral program at My 24 Hour Income, it is possible. They would just need to promote the company using their affiliate link, and if someone makes a purchase through the link, the referrer would earn a small sum as commission. However, the catch is that they cannot withdraw that money without buying an adpack. So making membership free for My 24 Hour Income doesn’t have any value if members cannot claim the money earned by them without meeting the condition above.
My 24 Hour Income at this point looks legit, but there are many red flags that are preventing us from recommending it wholeheartedly. Additionally, there is no guarantee that it will provide you with a regular source of income and most importantly, it is too new. Given the uncertainty, it makes sense that you review all options before getting into this program.
There are numerous online money making options available these days, but if would like us to recommend something good, you can check out Digital Altitude. The key reason why we think it’s good is because this program has been designed very well and offers a set of products that is structured thoughtfully. If we are to delve into the background, the person who designed the Digital Altitude program is Michael Force, who you would know is a well-known internet marketing expert. The services and products sold by Digital Altitude are linked to a variety of subjects like website traffic generation, social media marketing, how to run online businesses and so on. Affiliates linked to this program would need to sell various training courses talking about marketing strategies, and earn some good commissions in that process. Digital Altitude offers numerous affiliate levels, so those interested in this program do a good number of options to choose from. Many people have benefited from the scheme offered by Digital Altitude, and it has come across as a good opportunity for anyone looking to discover genuine money making options. So we recommend that you also check the program from Digital Altitude, and see how it works for you!
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