Founded by Russell Gain, this system has been around for over 10 years and is originally from the USA. It has earned Russell Gain and others on his top team millions of dollars in trading income and revenue.
The system is a fully automated turnkey system that allows part-time participation, works from anywhere, and is accessible if you have internet access. The system is designed to promote products of a partner company: Herbalife International PLC.
There are three parts to the 60 minute money system. Each area costs you money to set up initially and then a monthly subscription thereafter.
- Retail Website: You gain access to a retail website where you can retail your consumable products and weight loss programs. The website is pretty standard across the board, you have the options to change the background, but they all look the same or similar. There are some cool features like the customer portal where long-term customers can place their regular orders online.
- The Training Website – This is the access to the 60 Minute Money Training Back Office. There are online webinar training sessions that can be conducted at the team level or global team sessions, as appropriate, by Russell Gain and his senior team. There are daily phone training sessions that are all recorded and available in the back office, as well as documentation detailing techniques on how to talk to your recruiting or weight loss prospects, as well as how to build your team and business.
- The Recruiting Site – This site is primarily used to recruit prospects for your team. Use CD presentations or online presentations to drive prospects to your website and ultimately to a series of autoresponders outlining the benefits of joining the 60 Minute Money System.
The system itself is pretty much turnkey and there isn’t much to do when you first set up either website. There are automatic responses, some of which can be altered by you, some of which cannot. It’s a lead capture system, but then it’s up to you how you manage your leads and maximize their use.
If you get a good mentor then the system can work very well, however most distributors are taught to drive traffic to both the weight loss site and the recruitment site and are then left to their own devices.
There is a 12-month money-back guarantee on the CD information package with this system if you don’t earn $12,000 or more within a year.
As this system is a partner of Herbalife, the compensation plan is that of Herbalife International.
The 60 Minute Money system is great for capturing leads for weight loss and recruiting, not sure what the additional benefits of the training site are. They have internal team bonuses and encourage competition between people to help drive traffic to all websites, through the number of sales, leads, CDs sold, etc.
Having three sites can get expensive on a monthly basis as there is a fee of $40 for the weight loss website, $50 for the training and business recruitment website. The proposed funding is through the sale of the CDs you must purchase in the first place, you must retail about 40 CDs or more per month to recover funding for the ongoing costs of running your websites. The weight loss website can be used on its own. However, if you want to build a residual family business, through Herbalife International, then you need the recruiting side that will bring new distributors into your organization.
Always do your due diligence before joining any system. Make sure this is a sustainable system and that it can stand on its own.