The Speed Wealth Commission System is a make-money-online program that has been getting a lot of attention lately, specially because Matthew Neer, the creator of this program, promises that he can help you make upto $1300 in one single day.
How true are his words? Does the Speed Wealth Commission System work? Is the training any good?
If you are asking yourself these questions, then I would like you to pat yourself on the back, because it is wise to question and research ANY program you come across before deciding to invest into it. This is going to be a thorough review where I will discuss all the points of this program, so you can make an informed decision.
Video, Video on the Screen… Is it REALLY a Money-Making Machine?
Sorry! I just had to! Lol…
What would be a make-money-online program without a good ol’ sales video? Most people are visual, which is why scammers and low-quality products use VIDEOS to entice you. And the feelings in the voices of the voice-overs also get to people’s heart, whereas it is sometimes hard to figure out the feelings behind a written text, unless the story is ESPECIALLY touching.
Anyways, Matthew talks about selling a digital product online, which will generate money 24/7 and you won’t have to deal with customer service, complaints, questions NOR packing and shipping the products to the customers.
I TOTALLY am with him on this!
If you really want something to generate you passive income, then you HAVE to find a way to make money that does not involve ANYTHING remotely like a store. What he suggests, is making use of ASCENSION sales funnels because they are passive income generators.
The image to the right is an example to get the first sale. Ascension sales funnels are websites that take visitors through a series of purchase levels (not just one) and each level upsells them to a more costly product.
These funnels don’t get tired, they can take care of quite a few visitors at a time, they can take care of several transactions at a time and they don’t need time off, vacation time, sick days and so on. He explains that this is an AUTOMATED method of making money online that YOU will benefit from, financially.
Now, he also mentions that you won’t need to buy these websites or pay for hosting and you will be getting a big number of templates that you will be able to use for the sales funnels, which just sounds awesome, right?
How You Will Make Money
All this sounds good, but now, we want to know how the system works and how we will make $1300 a day with this program.
Matthew talks about ascension sales funnels and it is not surprising that this program is one too; meaning that you will NEED to buy into more expensive products so the person who referred you, is able to make more commissions and also, so that Matthew can make more money.
The only way to make money with this program is to promote the program itself. You have to send people to those sales funnels, that will feature the SAME video of Speed Wealth, and when the visitors BUY into the SAME program, you will make commissions. The job of the people you refer, will ALSO be to refer more people to the SAME program where they, in turn, will make money.
This reminds me of a program called YOONLA that I wrote about a little while ago because the business model is EXACTLY the same. It appears to be affiliate marketing, but it also resembles a pyramid scheme because the only way to make money is to recruit others. There is no MEANINGFUL or HELPFUL product to help you earn in any other way.
Problems I Uncovered!
This program looked fishy from the start and in this section of this review, I will be showing you what I uncovered while I looked through the sales page and the video.
1) Viral Cash App – This is another make-money-online program founded by Matthew Neer. In both the sales videos for Viral Cash App and Speed Wealth, Matthew discusses and SHOWS you his account on Warrior Plus to prove the income he gets. Both of them are the EXACT same video snippet, with the EXACT same figures.
I have already written a review about Viral Cash App that you can READ HERE, and you will find that I have categorized it as a scam!
So, did he make that amount of money using Viral Cash App, or did he make it with Speed Wealth? Maybe both? If so, why does he NOT mention Viral Cash App in THIS sales video? Why does he not mention Speed Wealth in his Viral Cash App sales video?
Although I agree that it’s best to promote a digital system online to make passive income, this video snippet goes to prove that he did NOT make this money using either systems and that he is out to CON people!
2) Scammy Sales Tactics – Some of the tactics he uses, is the countdown underneath the video, the unrealistic income claims and tells you that you will make money AUTOMATICALLY with almost no work. Here’s why these are NOT true.
When it comes to the countdown, well, try refreshing the page. You’ll see that the countdown goes back to 35 minutes again. That’s to make you jump to your wallet and get your credit card out without giving you time to think twice about it.
The next issue is the unrealistic claims that he makes in terms of the income that people could potentially make. I’m not saying that this amount of money is impossible to be made online; I personally know people who make that income, but you cannot make that kind of money overnight. Just like you won’t be making thousands within your first day of opening a brick and mortar shop, you won’t make thousands on your first business day online.
Another claim he makes is that there is not much work involved with this kind of business, which is totally false! I have been online for 2 years now and I am qualified to tell you that it takes effort, patience and time to grow online. I have reviewed so many get-rich-quick schemes and if ANY of them had worked, I would not have been here writing this review rightnow.
Problems You’ll Run Into With This Program!
1) This program is NOT as automated as Matthew claims!
As I mentioned above, this program teaches you how to promote itself, so people can buy into it and you can make money/commissions when they do. In order for people to find this program, you have to advertise it. For that, you can use social media, like Facebook, Instagram, Youtube OR you can also use Paid Ads.
Whatever mode you use, I want you to realize that it is not going to be easy. Matthew makes it look so simple, but in order to make ANY significant amount of money, you need to bring a big amount of traffic to your sales funnel. The more visitors you bring, the more people will buy the product and the more commissions you will make.
Setting up this system is not the hard part; it is driving traffic that’s hard. You will have to sit at your computer every single day, talking to people about it on social media, posting on your Facebook page, maybe even coercing your family members into the system.
This is not a “set it and forget it” business model like he wants you to believe.
2) You will need to invest into Paid Ads
Although the training on bringing in free traffic is okay, the mode of bringing in traffic that he will recommend to you, will be Paid Traffic, through Solo Ads.
Solo Ads is paying somebody to use their email list to promote your products to. While this can be very effective, the price for Solo Ads, especially if you want a VERY good list, is through the roof! That’s one of the hidden costs that Matthew does not mention in his sales video. Though this is optional, if you are able to invest into a good email list, you will get great results.
But most of us don’t have that kind of money and will stick to social media. So if you are only using social media, don’t expect to make a dime within your first week.
3) Do you REALLY not need to invest in a website and hosting?
While it is nice not to need to invest in buying a domain name for your website and for hosting it, which could run for about $100 a year, is it really the best decision for your business?
Being an internet marketer, I would say that it’s not wise at all to rely on free domains and free hosting for your full-time business. It is HIGHLY advisable that you actually invest in your own domain and hosting. When you buy a domain, YOU are the owner of both the domain and ALL the content on the website. And as such, you can choose to switch hosting providers whenever you want, without losing your domain or your content.
But when you are on a free website/domain, you are NEVER the owner of the domain or the content on there. In our case with Speed Wealth, Matthew is only offering you to use HIS domains, which means that if he ever wanted to NOT renew the domain for you down the road, you would lose the website and if you lose the website, no more commissions for you!
Yoonla is a completely different program with a completely different founder. However, the only way to make any money with either of the programs, is to promote the program itself.
The problem with this, is that it resembles a pyramid scheme, where the only way to make money is to recruit others. Yeah you’ll make money, but there is no worthwhile product to promote. The MAIN reason for the systems is to make the OWNER rich, while he pays you a portion to bring him the recruits.
When the only way to make money with a program is to recruit, the business is bound to fail because once the program disappears, ALL your income disappears.
Another way they both resemble each other, is the fact that there are hidden costs which the sales videos don’t mention at ALL! I’m coming to this in the next section.
Price – Hidden Costs to Be Aware of!
It costs $47 to join this program, and no, it does not have a trial. It DOES have a downsell though. If you try to exit the sales page, it will encourage you to sign up to the program by discounting the sign-up price to $27.
1) UPSELLS – There are a few upsells within the program and I knew about their existence before even signing up for it. There are 3 upsells and the most expensive one is at $199. These upsells are also NOT optional, because the training for $47 (downsell at $27) is not enough to get you through to making $1300 per day. You HAVE to upgrade to get access to more training and Webinars.
2)PAID ADS – We already discussed Paid Ads above; the video makes no mention that you will need to invest into paid ads for immediate results. Thus, it is a hidden cost!
3) AUTORESPONDER – Another cost you need to be prepared for is to pay for an autoresponder. Matthew will ask you to sign up for a GetResponse account. GetResponse is legit and actually a very good tool for your online business. But the fact that Matthew “forgets” to mention that this will cost you $15 / month at least, is shady. It does have a 1-month trial period but payments start automatically afterwards.
Not to mention that you signing up for a GetResponse account and paying for it, will earn Matthew his own monthly affiliate commisions from GetResponse for referring you!
If he hides this information from me, then what other facts is he hiding? Which brings me to my next and final point.
4) MONTHLY MEMBERSHIP COST – Yup, that’s right! Aside from the one-time fee(s) you have to pay to get access to the system, you HAVE to pay $19.95 every month to maintain access and membership to the website. He never mentions this within his video.
The only place he tells you of this, is in the FINE PRINTS all the way at the bottom of the sales page, where almost nobody will read it. You HAVE to pay this amount monthly to make commissions as well. If you cease to pay the monthly membership fee, you will no longer make any commissions from the upsells in the system.
Is Speed Wealth Commission System legit?
Some people, like me, will call it a scam because of the various lies, empty promises and hype that he gives us. No matter how you look at it, there is just NO way to make money only investing the $47 (downsell $27). If not the upsells, then you need the autoresponder and to pay the monthly fee.
I hate hidden costs!
When I do business with somebody, I want to know EXACTLY what I’m getting into; Matthew does not disclose everything and I don’t appreciate that. In the offline world, everything is done on paper which makes it easy for business people to know the TOS but with the video hype, it’s hard to know what’s true and what’s not.
Others may not call it a scam because you are getting something for your money. After all, there is SOME value to be had. Also keep in mind that you can get a refund from ClickBank within 60 days of purchase if you’re not satisfied with it. So yes, if you’ve already bought this program and THEN thought about researching it, go back to ClickBank and get your refund.
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