MyFunLife Business Opportunity Is A Scam! Really? Here are the facts.
Before I give you the facts, let me give you a little background of me. I’m a Chartered Accountant with over 18 years of financial services experience. I held positions of Finance Manager, Financial Controller, and Head of Strategic Planning of major High Street Banks.
In 2008, I retired from paid employment and went back to the classroom to study High Performance Coaching. Following my Certification as a Performance Coach in 2010, and upon becoming member of the International Coach Federation, (ICF) I established my Coaching and Human Capital Development practice, which is my primary business till date.
I work with entrepreneurs and business leader to help them develop the capacity to create high performance results, double revenue, and deliver superior customer services. I also work with start up entrepreneurs to help them turn ideas into successful business enterprise.
I have decided to give you this background so you would know how much passion I have for business growth, entrepreneurship and start up businesses, which I believe is an important aspect, which MyFunLife is seeking to address with their company. I also believe that, that is why you are reading this article now.
Okay, enough about me.
So What Is My Fun Life?
In March 2013, MyFunLife was established in Coeur d’Alene, Idaho, USA as a privately held company led by a team of experienced and committed professionals, Dan Edwards, CEO, and Matthew Edwards, Chief Visionary Officer. The company operates within the $6.3 Trillion Travel Industry, and offering its members the most exciting lifestyle related products at the most economic prices.
MyFunLife is taking advantage of the power of internet, mobile technology, and word of mouth to market its products within the 50 states of USA, and across international markets.
It’s A Pyramid Scheme!
Nope, MyFunLife is not a pyramid scheme. Pyramid schemes do not have products or services for sale. They pretty much re-cycle their member’s monthly subscription up and until such a time, when their trick gets exposed and bursts. In fact Pyramid Schemes are illegal businesses.
MyFunLife is a legitimate business organization set up to help ambitious entrepreneurs and individuals, who are seeking to build a brighter future of financial independence, improved quality of life, and enjoyment.
The company has three basic products namely Cha-Ching Booking which you can get free of charge forever, Funtrips, and FunCondos. There products are primarily marketed across global markets through network marketing model. This model gives opportunity to any individual or company that wants to sell their products to do so as an Independent Representative. There are lots of financial and material benefits that accrue to MyFunLife Independent Representatives through commission, discount vacations at exotic locations all over the world, as well as bonuses and performance enhanced benefits.
The company holds recognized membership of International Air Travel Association IATA). It’s also a member of Travel Retailer Universal Enumeration (TRUE) system, Cruise Lines Industry Association (CLIA), American Society of Travel Agents (ASTA), Airline Reporting Corporation (ARC) and several other major travel-related associations; as well as Better Business Bureau (BBB). Pyramid Schemes are never given membership of internationally recognized associations as these.
What Is The Difference Between MyFunLife and Other Network Marketing Companies Such As WorldVentures?
As you may know, I have once analyzed the great opportunities offered by network marketing companies and gave specific reasons why I preferred WorldVentures. The difference between MyFunLife and any other Network Marketing Company, in my own opinion and preference is the simplicity of service.
While you have to carry products about in almost all network marketing companies, you do not do so in MyFunLife because they only provide travel services which are intangible. The same as World Ventures.
Having said that, I prefer doing business with MyFunLife than World Ventures for obvious reasons. The compensation plan, as well as member’s growth in WorldVentures is rigorous and difficult. You have to make up to 180 sales to be able to be start earning residual income, that is a very hard nut for beginners to crack. Also, you are required to pay monthly membership fee of about $49, which I think is high compared with MyFunLife.
In MyFunLife structure, you can earn commission without making any sale because the system is designed in such a way that both your up-line and down-lines can place new members in your matrix. Nevertheless, you are required to make just three sales. Once you achieve your first three, you can therefore focus on helping them to make their own three sales each. This puts you in a leadership position, where you help others to succeed. The monthly membership subscription is just $25 and you don’t have to pay this forever. As soon as you have six active members in your team, personally sponsored by you or a combination of you, your up-line or down-line, you stop paying monthly subscription of $25 for life.
So How Much Income Can I Make from MyFunLife?
Well, as in every business, your level of performance determines your level of income. But the company has tremendously simplified the process for anyone that wants to join now.
Here’s what you get…
From the day you sponsored someone in your team, you begin to earn commission. There are different levels of mouth-watering compensation plans with different added benefits you can enjoy. These include…
1. Sponsor 3, Bronze Member = 10% income on everyone in your team.
2. Sponsor 6, Silver Member = 20% group income
3. Sponsor 9, Gold Member = 30% group income
4. Sponsor 20, Sapphire Member = 40% group income
5. Sponsor 50, Ruby Member = 50% group income
There are other incentives such as coded bonus, car incentive and lots more which can be better explained if you visit the company’s website.