Is Six Figure Mentors a Scam? Yes It Is!
The following is a guest post from The Finance Guy. I think you will find his opinion of The Six Figure Mentors of value.
Six Figure Mentors (SFM), Digital Experts Academy (DEA) and Digital Business Lounge (DBL), are all part of an online membership program created by Stuart Ross and Jay Kubassek. They claim to be selling a system which can teach anyone how to make money online. After looking at the available information, all I saw was a scam designed to take as much money as possible from anyone who joins.
Stuart and Jay have set up a system which is very similar to one I have looked at previously called MTTB / MOBE. The ‘education’ these systems are selling is really just the online version of a get rich quick pyramid scheme. They claim that if you buy their system, and follow their instructions, then you can make as much money as you want online.
I tried to find evidence that people are making money with SFM. After all if the system works, then there must a be a lot of people out there who are making money and are eager to show everyone how well the system works. This lead me to believe that people are not making money with Six Figure Mentors.
In their promotional material, you’ll hear claims that this is a system for everyone. However, SFM knows that very few people will make money with them. The caption below is copied from their earnings disclaimer. It does not describe a proven money making system which can work for anyone!
INTERNET BUSINESSES AND EARNINGS DERIVED THERE FROM, HAVE UNKNOWN RISKS INVOLVED, AND ARE NOT SUITABLE FOR EVERYONE. MAKING DECISIONS BASED ON ANY INFORMATION PRESENTED IN OUR PRODUCTS, SERVICES, OR WEB SITE, SHOULD BE DONE ONLY WITH THE KNOWLEDGE THAT YOU COULD EXPERIENCE SIGNIFICANT LOSSES, OR MAKE NO MONEY AT ALL. ONLY RISK CAPITAL SHOULD BE USED.
What does Six Figure Mentors claim to offer?
Here is Stuart Ross in action:
According to the SFM signup page, when you join six figure mentors, you will get:
- Done-for-you affiliate links and sales pages.
- Marketing banners in a variety of sizes and styles.
Cutting Edge Platforms
- Sales funnels
- Link generator
- Tracking generator
- Tracking stats.
Sales & Support Expertise
Essentially when you join SFM, you are given the tools to ‘duplicate’ what Stuart and Jay did. They claim that you can become financially free by creating your own version of their business. This includes selling their products.
I did not pay to join SFM and I did not complete any of their educational courses. I can tell you that their system is flawed because you can’t make money online by duplicating an existing business.
What is wrong with duplicating six figure mentors?
SFM claims that they will teach you how to make money online through a process called ‘affiliate marketing’. This is the online version of being a commission based salesperson. As an affiliate marketer, you create a web page to promote existing products and if people purchase through you, then you earn a commission.
The best way to make money with affiliate marketing, is to create a website which generates traffic from a well defined target audience, then sell them relevant products or services. For example if you have a website teaching people about digital photography, then as an affiliate marketer, you should sell digital photography equipment. If your site is about fishing, then promote fishing equipment.
To be successful in affiliate marketing, you need to find a niche market which works for you. It should be something which you are either passionate about, or can offer some level of expert knowledge. You need to be able to create quality original content which people want to read. A duplicated ‘done-for-you’ affiliate page will not generate traffic and will not make you money
SFM will not teach you how to sell to your own specialty niche. Their system is based on selling you products, then asking you to use their system to sell the same products to new members. There are several problems with this business model I will run through them below:
Duplicated landing pages will not get organic traffic
If you want to make money through affiliate marketing, then you need to have what is known as an ‘authoritative website’. This means your content has to be well structured and provide quality original information.
A well written page will rank well on search engines, and traffic will follow. My personal post about can you make money with Amway is an example of a page which gets close to 5,000 visits per month. This would make an interesting landing page. I have not had to do any work or spend any money on it since July 2015, and it still gets close to 150 visits per day.
Google knows if you have duplicated content and it does not like it. If you create a landing page using one of the SFM templates, then your site will not appear on the first page of search engine results. This means your SFM landing pages will not generate ongoing effortless traffic from organic searches. You will have to spend money to bring visitors to your SFM landing page.
Duplication creates saturation
If you try to sell SFM products, then you will be competing with all the other existing members who are trying to sell the same products. SFM claims that you can duplicate their business as if it were a franchise. This does not work on the internet because there are no physical locations. Every webpage can be accessed from every computer. Duplicating a webpage would be like opening six McDonald’s franchises right next to each other and expecting them all to turn a profit.
I managed to find a version of a SFM landing page called ‘8 reasons you should join six figure mentors’. Here is an example of their done-for-you landing page. It was tucked away on the third page of the search results for that precise title. If you paid for a copy of this page, your page would rank below this one. These landing page templates are not designed to attract natural traffic. The only way you will get organic traffic is if you create your own content and ignore all the templates provided by SFM.
SFM will tell you to spend money promoting their products
The so called ‘done-for-you’ business is not designed to make money for you. It’s designed for you to spend money and take financial risk. If you use the SFM marketing banners and ‘sales funnels’, then you will have to spend money promoting your banners.
If you make any sales with SFM they say you will earn anywhere from 5% to 40% commission, they forget to mention that they will keep anywhere from 60% to 95% of that same sales revenue.
The system will teach you that you need to spend money advertising and promoting your SFM link. There is no guarantee that you will generate any sales and there is a high chance that you will lose all the money you spend trying to sell SFM products
This is great for Stuart and Jay, it doesn’t matter to them how much money you lose because it’s not their money. If you do happen to generate some sales, then they get to keep up to 95% of the revenue after letting you take all the financial risk.
How Much Does Six Figure Mentors Cost?
The best way to answer this question, is that SFM costs as much as you are willing to pay. The promotional material claims that you can join for $29.95, but this only gives you a very basic membership. Once you have joined, your ‘mentor’ will start telling you about all the other SFM products you ‘need in order be successful’.
A list of all the SFM products and their prices can be found on the SFM Income Disclaimer. The good news is that there is a way to make a better landing page, but you’d have to sign up for something called ‘simple lead capture’ which costs $29.95 per month.
As we saw the basic landing page was pretty ordinary and only came up on page 3 of the Google search results. If you decide to buy in to the higher level, you can create a SFM landing page just like this one. Unfortunately you’d still have to compete with all the other SFM members who already have their own versions of the same page. Alternately you could pay nothing and just create your own differentiated version of the same content.
The same could be said about all the products promoted by SFM. Essentially all they are doing is giving you access to cut and paste templates, which will be ineffective in the world of affiliate marketing. You would achieve better affiliate marketing results by spending no money, and putting in time and effort to create your own promotional content.
The top product offered by SFM, is called ‘DEA Black’. For $20,000 you can go to a five star resort, and spend some time with Stuart, Jay and other members of the Digital Experts Academy. I don’t know about you, but for $20,000 I’d rather spend my time on the resort relaxing on vacation, I wouldn’t want to pay $20,000 to listen to people talk about how to run an internet scam.
My Final Say
Six Figure Mentors, has all the warning signs of an online scam. They use smoke and mirrors to focus on dreams and the concept of financial freedom, but provide no evidence that their system works.
They claim that all you need to do is risk a small amount ($29.95), and you can access this alleged money making system. If you do pay this amount, you will soon discover that SFM will constantly shift the goal posts on you. What they call ‘training’ is really just a sales pitch where they will try to convince you to spend as much money as possible on services which have no real value.
If you want to make money from affiliate marketing, you will find more than enough free information on the internet to get you on your way to a successful business. My advice is to focus on trying to promote goods and services you are already familiar with.
There is no such thing as a secret money making formula. Anyone who claims to have one is trying to scam you.