Product Name: My Income Team
Product Owner: Alan Magliocca
Advertised Price: Free
Real Price: $113-$400+, $97/month
What Is It?
A spot on example of a hosting scam. We are told of a fantastic, mystery business in a box program that we get access to for free (because we are so special), but the catch is that we have to pre-pay for several months or even years of hosting before we are allowed to know what we will be doing.
Apparently we won’t be selling anything, which seems a bit sketchy to me.
When someone tells you that he will teach you how to make a boat load of money, completely for free, alarm bells should start sounding. When they say it’s because you were randomly selected to be part of exclusive group, start walking the other way.
When he says that he will give you a $15,000 discount for a limited time, start running.
Before You Buy
Everything from the very start of the video sounds shady. We are told that our “account is approved” even though we didn’t sign up for anything. Then we are told that we get a free account and that some guy named Alan Magliocca is going to front the $15,000 fee.
Once you know that Magliocca has a history of running internet scams, the picture comes into place. He has previously launched a product called Commission Buddy which was pretty much the same premise; I will help you make money if you sign up for hosting.
What’s worse is that he also released another product under the fake name “Ron Banks” called Banks’ Experiment. It’s a binary options trading software that has defrauded countless people out of money through binary options trading.
Is it just me, or is that a pretty sketchy background?
What I Liked
I love that $15k discount! LOL. J/K.
What I Didn’t Like
Mystery Business in a Box
The idea that you have to pay for something before you know what it is, is absolutely ridiculous. The thing that’s even sillier is that there’s often a no-refund policy for hosting (what you’re paying for).
Essentially you are giving paying $100-$400 for a blank box that says “awesome stuff inside”. I suppose if you were into gambling, then this might be up your alley.
But if you are serious about starting an internet based business, this does not seem like the type of program I would trust to mentor me. I would expect that someone would shoot straight, tell me what I’m going to do, how much it’s going to cost, and what type of results I can expect.
Also, a big gripe of mine is that they signed me up for the most expensive package by default. If you are a newbie, you might think you need all that stuff they offered. You don't. They also had me listed for 2 years of hosting. Wow, I can't even commit to a plan for dinner tonight. How can I be expected to commit to 2 years of a mystery million dollar system?
Paying for Traffic Credits from WHERE?
One thing that you’ll be paying recurring payments for is “traffic credits”. There’s no explanation of what these are for or what these actually get you.
I’m assuming that they are paid traffic to your website. However, you should be very wary of packages like this.
If someone paid you to walk into Walmart, would you buy something? Probably not. You are going because they are paying you, not because you want to buy something. Many of these traffic packages get traffic from click farms that just have people from developing countries clicking on stuff they are told to click on.
It’s not real traffic coming from people interested in buying your stuff.
There’s also a possibility that this traffic is coming from the people’s emails lists, which the quality varies greatly depending on how those emails got into the list! Some people scrape the web for email addresses and send unsolicited emails illegally!
In the best case scenario you would be getting paid traffic from place like Google, Bing, or Facebook. However, traffic related to affiliate marketing and “business opportunities” has notoriously low conversion rates compared to other industries. If Magliocca actually took the time to refine and tweak some campaigns so that they converted well, he would not send that traffic to YOU (and all the other people signing up).
Ridiculous Numbers & Hype
Are we seriously supposed to believe that the website that’s being built for us is worth $15,000? Boy, would I love to see that site!
You can build a WordPress website for free with $10/month hosting and have access to 24,000+ website templates. You can even pay someone from the Philippines or India $5/hour to fully customize your website if you really want something nice.
Heck, even a completely custom theme might cost you $500-$1000. But $15k? No way. It’s just a marketing tactic to make it seem like you’re getting an incredible deal.
Want to learn how to build your own website? Yeah, that free WordPress site I was talking about. Even if you are a complete beginner you can get your website online in a matter of minutes and start tweaking it to look how you want.
At Wealthy Affiliate you can set up two free WordPress sites with free hosting, and even get 10 free lessons on how to make money from those websites. You can also chat to other members and experts who are doing the same and get advice along the way.
*Advanced training is a monthly fee, there is no charge for the starter training.
How do you feel about paying for a mystery business in a box? Is this a good way to get people to buy your product?