The Six Figure Mentors System has been around for awhile and there are our plenty of reviews some of which are calling this opportunity a scam while others are encouraging you to join. So you might be asking yourself should I join?
Typically on the surface this might seem like the perfect opportunity to learn how to make money online but when you start digging in there are some things that the average person may overlook.
So follow along with me and we’ll go through this program to see what the pros and cons might be and if there are some better alternatives.
What Is Six Figures Mentors | The Company and System
The two Founders Stuart Ross and Jay Kubassek were internet marketers who developed their own course to teach others how to make money online using affiliate marketing.
SFM got its start in 2010.
What these types of programs try to do is give you a business in a box so to speak. where you sign up and everything is plug and play.
For example most people when they get started online trying to figure out how to make money aren’t sure really where to start.
So companies like SFM put together a program that can include landing pages, banners, funnels and other tools to get a newbie off the ground with little effort.
The question is can this program really help someone make money online as they say and is it worth the cost?
What Does The Six Figure Mentors System Include
With all the different programs out there what does SFM offer in theirs that might set them apart from the other players.
To begin with there are four different levels that you can sign up for as a member:
- Affiliate Access – free
- Student Access – free or $25 per month which is optional
- Essential Membership at $297 and $97 per month
- Elite Membership which is an add-on for $2,500 per year
So looking at the four different levels you can see that they do give you affiliate access for free so what exactly do you get with the level 1 free affiliate access?
Not much at all.
The free affiliate access is really just a way to get you signed up with the companies sales funnel in order to introduce you to their other products.
You can actually earn commissions at this level by introducing others to the system but they only amount to $20 per person and you will be doing this without the tools that the company has.
In other words you’re on your own if you sign up for the free account and you have to use your own advertising methods to drive traffic to the company’s website in hopes that somebody will sign up so that you can get your $20 commission.
Realistically unless you plan on upgrading to the Essential Membership it’s probably a waste of time at level 1 because you’re really not going to make any money at the free level.
Now the essential level membership costs $297 plus there is a $97 per monthly fee.
You will get access to the back office and the modules for training that will teach you how to market their high ticket products.
For example most of these systems have low cost of entries to get you to sign up. Now you might be thinking that $297 plus the $97 per month is not low cost.
The thing is when you start looking into how these systems work you will discover that you have only scratched the surface of what it will cost to be a member and actually make money with the program.
The Six Figure Mentors system is no different.
As you progress through the training you’ll discover that you’re going to need ways to build websites and capture leads which will cost you extra.
This is not necessarily a bad thing but the problem is that most people that sign up as a member don’t realize this.
So if you’re signing up on a shoestring budget and all you can afford is the initial $297 and the $97 per month fee then you’re going to be disappointed to know that this is just the beginning of your expenses.
SFM has an add on called the Digital Business Lounge which is a separate business that they run for you to build a website.
This will cost you an extra monthly fee.
They also have another add-on for capturing emails called Simple Lead Capture. This is a simple landing page builder that you can use that doesn’t require any knowledge of code.
So put these two things together and you’re adding another $70 to $100 per month in expenses.
This level of membership offers coaching that is done by live video webinars once per month with the founders Stuart and Jay.
In order to make the most money you’re going to have to be at least in the Elite level of membership.
As an example if you were an Elite member and you recruited an Essential member into the program you would earn $200 plus a reoccurring monthly income of $20.
If you were able to get someone to join as an Elite member you could then earn a $1,000 commission.
Just remember to be in the Elite level of membership it’s going to cost you $2,500 plus a monthly fee of $97 per month.
Upsells and Add Ons
Now upsells and add-ons might not be a bad thing if you can justify the price but in my experience they usually don’t.
Just like other high ticket training programs the Six Figure Mentors program also has its share of upsells.
If you were able to pay the $2,500 plus the $97 monthly fee to be an Elite member then hopefully you’re able to generate some income to recoup that money.
While you’re in the buying frenzy the company would also like to introduce another level of training that they have integrated into SFM called Digital Experts Academy.
DEA is actually a whole other program that they sell but when you become a member of SFM you have the opportunity to buy into that as well.
There are four levels that include Silver, Gold, Platinum and Black. The price ranges are from $2,500 for Silver all the way to $20,000 for Black.
This is where the top members make their money.
When you have training products that cost $2,500 to $20,000 and someone buys into them then you get paid a great commission.
There’s only one problem.
It’s not really easy getting people to buy into thousands and thousands of dollars worth of products.
What separates the people that make money with Six Figure Mentors from those that don’t is that they invest heavily not only in the highest membership levels but also in marketing which cost hundreds to thousands per month.
With a company that’s been in business for last 8 years I thought it would be interesting to see what some of the Six Figure Mentors complaints might be.
The first place that I looked was the BBB which had the company listed with a C+ rating.
I’m not sure why it was rated with a C+ because there was only one complaint within the last 3 years and unfortunately it wasn’t showing what exactly it was for.
So I kept digging to see what else I could find for complaints.
30-day Guarantee Complaints
I found various comments on different websites regarding their 30 day money back guarantee. There were people complaining that the company knows the 30 day money back guarantee is a gimmick because by the time you’re done making it through the training material you’re well past 30 days and the guarantee has expired.
Pyramid Scheme Complaints
There were also ex members referring to the program as a pyramid scheme. They were saying that although the company markets is self as a affiliate marketing training program they actually encourage members to recruit more members to earn money.
Overall the complaints that I came across weren’t as numerous as I thought they would be for a company that has been around for years.
Is The Six Figure Mentors A Scam Or Legit Opportunity
The answer to this question depends on who you ask.
There are a number of people that join these types of programs and before you know it have spent thousands of dollars.
Unfortunately they don’t understand how all the pieces go together and what it takes to actually be successful with an online business.
The belief is that the more money you spend on these types of systems the easier it will be to get an online business started. After all these types of programs offer you the “business in the box” type of setup.
The reality is that only about 5% of people actually make money with any type of online business whether it be dropshipping, affiliate marketing or multi-level marketing.
For example let’s say that hypothetically 10,000 people sign up for Six Figure Mentors. Of all those 10,000 people only about 500 will actually make money.
Knowing that only a small percentage of people are going to be successful does that mean that the founders of SFM are scamming people?
You be the judge.
Personally I’m not a fan of these types of programs that have such steep costs.
I’m not against training courses that put together all the information to help someone build their online business as long as the pricing is realistic.
Six Figure Mentors Pros and Cons
Let me recap what some of the good and bad aspects are of this system so you can make a logical decision whether or not it makes sense to join.
Pros ( the good stuff )
- Company has been in business for years
- Lots of training
- Founders do what they teach
Cons ( the not so good stuff )
- No chance to make money unless you spend $2,500 for Elite membership for starters
- Training isn’t anything special that you can’t find elswhere
- Will need to spend thousands more to make system work
Who Should Try This Opportunity
As I stated before there is no money in joining as a free member and the only way to make large commissions is to join at the Elite Member Level.
This means you will have to come up with $2,500 to get into that level and you will need to spend an extra $97 per month just to maintain that level.
So if you’re living paycheck-to-paycheck and all you can scrape together is a couple thousand dollars then you’re not going to be too happy with the results.
Along with just being able to buy into the elite level you’re also going to need to spend money on advertising.
This will be an additional expense that can range and cost from hundreds to thousands of dollars per month. There is also no guarantee that the money that you’re spending for the advertising will actually generate any sales.
A lot of times you will need to lose thousands of dollars before you can figure out which advertising will work best.
Taking in the sign up cost as well as advertising costs that you will need just to get started you should plan on spending a minimum of $4,000 to $5,000 up front.
If you aren’t able to afford this cost without any difficulty then I would recommend looking for less expensive ways to learn affiliate marketing.
Getting back on the subject of learning affiliate marketing you don’t need to spend thousands and thousands of dollars when there are other training platforms that cost a lot less.
I have reviewed quite a few of these as well and some are better than others.
Here are my alternatives to Six Figure Mentors that won’t put you in the poor house.
Each of these different training programs has their pros and cons as well and when I was trying to make a decision which one to go with I chose Wealthy Affiliate.
They had the training as well as the tools all in one place and best of all you could get started for free.
The other best part is even if you decide to join their premium level at most it will only cost $29 to $49 per month.
The Six Figure Mentors affiliate training in my opinion costs a little too much for the average person to jump in and get their feet wet learning.
Even with all the tools and training it’s still will take a while before you will see any actual income if any.
Why handicap yourself from the beginning with huge upfront costs when you can learn affiliate marketing for a heck of a lot less?
Personally I am happy with my decision to learn affiliate marketing with the Wealthy Affiliate platform.
I recommend it to everyone that I know interested in starting their affiliate marketing business. So check out my review to see what it’s about and you can also set up a free account and test out the premium features that are included as well.
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