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Question by Jennifer: I am an independent contractor in Network Marketing…how do I fill out the Schedule C form?
This may be a question with such an obvious answer, but I’m stuck. I’m an independent contractor with a Network marketing company. They sent me my 1099 form, and I’m filling out the Schedule C form to report earnings/expenses. That much I understand. But, what do I put in the “Business Name” section since I’m not technically an owner of the network marketing company – should I just leave that blank? Do I just use my name? It asks for “Principal business or profession, including product or service”…should I put “Network Marketing”?? Or should I spell out the service we sell??? And also, it says to enter the code for type of business. I have no idea what to put here. Any help is greatly appreciated!

Best answer:

Answer by Blue B
2 options:

1.) Call IRS, they will answer this question better than anyone on this site can.

2.) Hire an accountant, they are not that expensive.

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Question by Minkow: MLM/Network Marketing???It Will Fail???It Cannot Fail???Which is It???
Are people in Network Marketing/MLM recruiting “winners” to build business or is the design to attract the “naive” or “losers” who buy into the confidence of the one promoting the business opp?
No matter the company, product or service, if the pitch presented by the company or reps at the meetings were accurate, the company would be larger than the general population of the U.S. in 1-1/2 to 2 years. This figure can easily be calculated through exponential growth based on the hype presented.

Best answer:

Answer by Bumblebee
Wow! Don’t listen to these vultures. Legitimate businesses don’t offer partnerships with people they don’t know.

MLM companies are basically identical to pyramid schemes except that there are no sign-up fees. As with pyramid schemes, the first couple sellers who start the company will make money, but at the expense of the lower level sames men who will make much less and still need to buy the products.

The people who will recruit you will make money off selling the products to you and a commission from any sales you make.

It’s a bad idea in any industry to join a business where your recruiters sell identical products as you, unless sales responsibilities are broken down into geographic regions. It is a conflict of interest for him to want you to compete against him. Always a sure sign that he can’t sell it himself.

If you want to sell products without investing in the product design, etc. I would recommend a traditional franchise. They do the demographic and logistic research so as to be pretty sure the company will be successful.

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Question by Marcello: How can people in MLM / Network Marketing claim to be educated on their business without knowing…?
…the percentage of sales the parent company does to their reps versus to non reps.

If your answer to this question is that you do know it please provide us some evidence (please no “my company told me so”).

If your answer is that this information is not important, explain why you would consider opening a business selling a product that might not have mass appeal to an unbiased public.

If your answer is anything else, then you have not addresses the question and thanks for nothing : )

Best answer:

Answer by Mike
Many MLM companies don’t or won’t report the information because they do not want the rep discouraged as to how much the company makes verses what the rep makes. The information is obtainable but usually difficult to get….The problem is that most reps “buy” into the hype given to them by their Upline recruiter because they are looking to make money (quickly and effortlessly) as described by the sales pitch. So most MLM reps not only do not have a clue, but they are not even aware that they do not know that answer…

Many times people get involved in MLM without even having a clue as to what the product is or whether it has a viable market in the first place. Again they are buying into the hype of the sales pitch not what the product really is or whether it will really sale.

I have looked at several MLM products and companies that have great “pitches”…but after doing research into the companies as to whether they are bringing revenue from product sales or from signing new Reps, I have found that very few are actually making money from product sales where product sales outweigh other revenue by a 2-1 ratio.

Basically it all goes back to the rep…their mind state when signing with the MLM and whether they are in it to recruit more reps or sale products…they hype leads to the signing of more reps which means product knowledge will most likely be 2% or less.

What do you think? Answer below!

Question by theamazingid: What is your personal take on the current fade. ” The Secret “.?
Have you fallen into the whole network marketing scheme? Do you know who wrote it and there educational background? Do you understand the consequence of believing “The Secret” and getting zero results?

Best answer:

Answer by wpepper
Hardly a secret then er? You said it, market hype.
people will pay big bucks for babble. Barnum was right. Sucker born any minute.

People have lost their center. They dont know who they are and have given up on traditional institutions for answers even though they go to church. (after all, these guys proved they were human by being human and acting like worthless buggers). So, if the church isnt the answer then there is a secret right? It’s not a new idea. The Cabala, writings of the Essenes in biblical times and in the time of Jesus, the Rosacarians, with secret rites and the masons with thier mumbo jumbo, mormans with their secret temple ceremonies, what is THE secret? It was written about in about 1900 by william james I believe, nothing new. Shake yourself out of bad vibes, wiggle yourself into good vibes, the hippies already been there, done that.

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Question by Laura J: Why is MLM/Network Marketing the business of choice for the 21st Century?
For example, in the book, “The New Professionals” – The Rise of Network Marketing as the New Profession, See Amazon.com link here: http://www.amazon.com/New-Professionals-Network-Marketing-Profession/dp/0761519661

This book was written by a Harvard Economics Professor. Not an MLM distributor. Also, why does Robert Kyosaki, self made multi millionaire support MLM even though he is not involved with MLM?

So, answer the question as to why there are professionals such as CEO’s, surgeons, attorneys, CPA’s etc… leaving their regular jobs because of the success with the MLM company they’ve achieved?

My answer is time freedom. They didn’t want to be owned by their job… what’s your answer?
Don’t say that most people at the top make all the money and you have to get in at the beginning because my 12,000 dollars proves this to be a bunch of horse pucky.
I deleted the first question because it was not asked the way it sounded… I meant why so many professionals who are already six figure earners would choose Network Marketing as their vehicle of choice?
Also, I’d like to add that there is no infinite depth in pay to keep it going forever… so, it’s not a scheme. There is a cap on the depth in pay. Just no cap on how many income centers you can choose to open and grow.

Best answer:

Answer by mannix_mannix_mannix
It would seem the only people who seem to believe MLM is the “business choice of the 21st century” are are those in MLM themselves or those writing books about MLM looking to make money selling books. Robert Kyosaki is a perfect example of someone profiting off of selling books. Of course he praises MLM, he discovered the mere mention of something positive in regard to MLM in his books increased his sales dramatically because people in MLM ran to the shelves to buy a book that said something positive about MLM.

I am sure to the average person in MLM who goes to meetings and MLM gatherings its seems like everyone is doing MLM since their main network is comprised mostly of people in MLM, but the reality is if you discount the number of people who sign up and are not active within 3 months of being in an MLM business the amount of people doing MLM is actually far less than the millions those in MLM would like you to believe.

As far as the number of successful people in MLM, I would be curious as to exactly where you are getting your statistics? The realty is that you every single MLM company that has gone public has MLM earning averages less than a few hundred dollars a year per rep…hardly a symbol of success (unless you are a company founder).

My guess is that the countless successful people in MLM is due to the same reasoning there are so many countless rich people on the internet…becuase you don’t have to back it up.

I am sure there are people making money, but I am sure there are a lot more people making up false claims.

The companies in MLM that have had to report the success rates have shown very poor numbers, so a better question might be, “why there are so many UNsuccessful people in this field.”

While there may be the odd CPA or Attorney joining the ranks of those in MLM, that doesn’t mean they are smart business people. In addition, the appearance of a few “professionals” in MLM hardly proves anything. I see no evidence of any significant number of professionals leaving their jobs to join MLM other than in MLM propaganda.

Sorry to be a downer, but unless you are willing to accept mere words are evidence, the numbers on MLM just are not what you seem to be suggesting.

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Question by Beelzebub: Is MLM/Network Marketing for people who are not entrepreneurial for actual business startups?
It always seems like the people promoting MLM are either the bottom of the ladder in terms of entrepreneurial people or are totally kidding themselves.

You can’t ask an MLMer about due diligence or market projections without having them tell you are complicating the issue…do these people even realize how ridiculous it is calling what they are doing a “business”. Essentially, you have these people sign up as reps (with some other company mind you) and never sell enough product on their own to make any money. Then they pull out these one liners their upline told them to justify what they are doing.

Saying MLM is another means of marketing is like saying selling toothpicks is another means of making money…well maybe, but you have to be a moron to go that route.

Will any MLMer actually answer this without slandering me for talking negatively about their “business”?

Best answer:

Answer by Robert N
ill to you too why are you so mad not good for ya learn to kick back alittle week end off should be in your future working to hard kills people .

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Question by davidcolyer: Why would someone (who likes beef jerky) NOT buy beef jerky from a network marketing company?
I’m preparing to change careers. I’m currently working in the Construction Industry… fabricating pool cages (screen enclosures), but I’ll soon be working full-time in the Direct Sales Industry.

I’ve affiliated myself with a company that produces Premium Quality Meat Snacks. I plan on specializing in selling beef jerky to Retail Consumers. My goal is to earn over $ 50,000 per year by enrolling people into the company’s auto-ship program. But, before I get started, I would really like to know what “objections” I’m likely to encounter. Please tell me every reason you can think of as to why someone would NOT be willing to spend $ 12 a month buying beef jerky from a network marketing company/through an auto-ship program. Keep in mind… I will be focusing on promoting to people who say YES to the question: “Do you like beef jerky?” I will NOT be trying to get people to do network marketing. I simply want to earn money by acquiring Auto-ship Customers for the company that produces jerky.

Best answer:

Answer by “pop the colla” MARY
your weird

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Question by : Help! Is ” Jilp.com ” a normal name for social network-market like Ebay?

What associations do you have ?

Best answer:

Answer by Ed Fox
Ebay is an auction site – nothing at all to do with social networking

What do you think? Answer below!

Question by Opinion101: Are you in any type of network marketing?
Who are these people in these network marketing promo videos? Who really falls for these schemes? I just got another invitation from a “friend” to check out The Trump Network. What a crock! If you are in multi-level marketing, why??

Best answer:

Answer by Make this Harry Reid’s Last
No, I am not…But we are having a Fire Sale….The boss said everything better get sold or we’re all FIRED….

What do you think? Answer below!

Question by Minkow: Are MLMs/Network Marketing companies a morally acceptable way to make money?
Are they and will they continue to be legitamate?
People can make money in an MLM, undeniably. The moral issue is: Where is the money coming from? Selling product? Then why not sell the same product in the “real world”?
One could argue that you build a residual income from sales through building a network. Most of the compensation plans highly favor the recruiting side.

Best answer:

Answer by Darren
I guess it depends on how you define the word Moral. Websters defines moral as “right or wrong”, but of course they don’t define what right is or what wrong is. That of course is the problem.

The bottom line is that it’s a matter of opinion.

Some say porn in not a moral way to make money.
Others say that it is.

Some say gambling is not a moral way to make money (I mean for the casino owner or the state who is running a lottery).
Others say that it is.

If it is legal, then is it moral? To some yes, others say no.

How about abortion? Moral? It’s certainly legal. Many people think it is very immoral. Others think it’s just fine.

So the answer is that it’s all up to your opinion. There will always be some who think it’s immoral and others who think it’s perfectly moral.

If you want my opinion I say MLM is moral as long as the MLM company is “honest” about “all” of the details on how it works. Many MLM companies only give you sugar coated information and hide the down side. This in my opinion is immoral. It’s not the MLM that’s immoral, but the dishonesty about the MLM.

MLM is in my view “semi” legitimate for the reasons I just gave above.

I think MLM is a terrible way to make a living.

I think MLM is generally a bad idea all the way around and I would heavily advise anyone to stay away from it all together.

Good luck to you.

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