Name: My 24 Hour Income
Owner: Drew Burton
This is a revenue sharing platform that provides members an opportunity to purchase advertising packages that pay out a set return on investment. There are some good points with this one and you can definitely make money. That said, there are some drawbacks as I explain.
I first came across this platform a few weeks ago and the main thing I remember was how the guy behind it (Drew Burton) actually showed his face and seemed pretty legit. As in, he wasn't selling hype.
Most people behind these kinds of platforms make all kinds of ridiculous claims and are very secretive about who they are. This is because they know their scheme won't last for very long and they want to continue making money well after the whole thing falls apart. Anyway, Drew was quite honest and upfront about who he is and what his company is all about.
I finally got around to digging further into this today, and I can safely say there are some good points overall. Admittedly, I am not a fan of revenue sharing platforms in general given the inherent sustainability issues, but I did find some key aspects to this that make it a little better than most. I wouldn't call it "bulletproof" as Drew does, but it's certainly a step in the right direction.
What Is My 24 Hour Income?
This is a revenue sharing platform that also provides an opportunity to advertise your existing business. Yes, I said it the opposite way to how the company does and it's because I know how these things operate. The primary idea is to purchase 1 or more 'adpacks' (advertising packages) and after a period of time, you will earn a return on your investment (ROI) according to each pack. You also get some advertising to promote another business you are involved in, like another rev share.
There are currently 4 seperate adpacks available for purchase with each costing more than the last and each paying a higher return. The more you spend, the more advertising you get and the more money you'll make from the rev share component.
You must also purchase a set number of the previous adpack before being eligible to purchase the next one as show below.
Adpack 1: Cost $5 and pay out 110% ROI ($5.50). You must purchase 100 of these to progress.
Adpack 2: Cost $15 and pay out 115% ROI ($17.25). You must purchase 100 of these to progress.
Adpack 3: Cost $35 and pay out 120% ROI ($42). You must purchase 200 of these to progress.
Adpack 4: Cost $75 and pay out 130% ROI ($97.50).
Most platforms will specify a set time for you to receive your earnings but in this case you are not given a timeframe. This is actually a good thing though in terms of legitimacy though. Why? The ROI's are based on new adpack purchases that cannot be predicted, so giving you a set time frame is not realistic.
The Advertising, Is It Legit?
There are various options to use such as banner ads, login ads, PPC ads and so on. If you've read other reviews I've published on these kinds of platforms, you'll know I'm not a fan of this style of advertising.
I won't go as far as to say it doesn't work but I will say I think it's low quality. Why? Mostly because the ads are shown to other members who are made to view them whether they like it or not. The screenshot below was taken from the members area:
Those who are viewing these ads are only viewing to meet system requirements or as a result of navigating the members area. The ads can work alright if you are promoting other rev shares and similar systems since they are being shown to members. But unless you have something unique to offer in a unique way, don't expect many clicks or much of a result. This is a group of ad viewing veterans and as such, they are conditioned to skimming over or ignoring these kinds of ads very quickly.
One thing I will say is that you can switch the majority of these annoying ads off! I have never seen this before and I do like it. Although, from an advertisers perspective I'm not sure how good this is? I'd want my ads shown as much as possible.
Whatever, I'm sticking with this being a good thing because I freaking hate ads!
The Referral Program
You don't need to refer anyone to make money with this, but it sure as heck helps. This is a multi level marketing referral program that pays on 3 levels. There is no information about the underlying downline structure being used here but it's safe to assume it operates on a unilevel system.
Each level pays out a set percentage and is based on the purchases of adpacks and other advertsigin witin the system.
Level 1: 8% referral commissions
Level 2: 2% referral commissions
Level 3: 2% referral commissions
There is also a system in place that evenly distributes all referral commissions from people who signed up through the owner, back to all active and paying members. So anyone who views 8 ads per day and has 1 or more active ad packscan receive a share in this. This is a very fair system.
The External Compunding System
As mentioned earlier, this system is somewhat unique from other platforms, this is one of the main ways. Normally what happens in most rev shares is that you invest x amount on adpacks and once they mature, you can't actually withdraw your money. This is because a percentage goes into your withdrawal account and the rest goes back into your re-purchase account.
For Example: You invest $100 and the adpack matures within 30 days at $120. You get to withdraw $60 but the other $60 goes into a mandatory re-purchase account.
However, this system works a little differently. This does not have a re-purchase balance and you cannot compound your earnings internally. From what I understand, you have 2 balances within this system. Your 'cash balance' and your 'earnings balance'. Your deposits go into your 'cash balance' and the resulting ROI you earn goes into your 'earnings balance' where you can immediately withdraw. You can then re-invest back into your cash balance if you choose to do so, thus you are 'externally compounding'.
Drew says he pretty much invented this idea and has made it this way to increase sustainability and only keep 'fresh funds' in the platform at all times. It still doesn't remove all of the risk but it does simplify things and in this type of platform, I think it's a good thing.
Drew explains this in more detail in a video he made on his FaceBook page and it's also worth noting that the system itself does not charge any deposit or withdrawal fees.
What I Liked
- Owner doesn't hide identity and has a successful track record in rev shares
- The 'external compounding' system does seem better than most platforms
- Sharing 'owner acquired' referral commissions is cool
- Not a lot of hype or misleading claims
- Plenty of information to help people learn the platform, and marketing training
- Potentially more sustainable than many rev shares
- You can turn off ads in the members area to an extent
What I Didn't Like
- Advertising is not the best quality overall in my opinion
- There are still risk/ sustainablity issues given the underlying model
- I'm not a huge fan of the marketing methods being shown to grow you downline
This is probably the best revenue sharing platform I have personally come across. Based on what i have seen, Drew seems like a fairly legit marketer and doesn't appear to be doing the wrong thing by people. I like how he provides a good amount of information for people along with an active FB group as this is going to help newbies become more educated about what is involved and how to succeed.
While the system is geared to be as sustainable as possible which does reduce some of the inherent risk, it doesn't remove the risk altogether. This is still a rev share platform and as such I recommend proceeding with extreme caution if you are thinking of investing substantial amounts of money. Why? These kinds of systems rely mostly on new member investment/ new investment from existing members to pay out existing ROI's. If everyone putting money into the system is expecting something back in return, it is mathematically impossible to sustain. This is why so many of these collapse.
However, there are measures in place to make this particular platform more sustainable and I guess time will tell just how much more. Personally, I think the biggest thing is that you are aware of these inherent risks and don't put more in than you are willing to lose. Either way, it's not a scam and you can make money. Hopefully this review has given you some worthwhile insights into this opportunity!
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