Online Income - Popular Terms Explained
Online Income - Popular Terms Explained
What are your reasons for wanting to make money online? Many people may just want an extra income or maybe they just no longer want to work an average mundane 9-5 job anymore. Whatever your reasons you can be sure that making a living on line is possible. It will not necessarily be easy-it might take a lot of hard work, but it's not impossible. And you don't need a lot of skills either. Anyone can learn to make money online if you have two key factors: dedication and determination.
When it comes to making money online there may, at first, be a lot of terms you're not familiar with. At first glance, you'll see a lot of abbreviations or popular phrases used among the online marketing community that may mean nothing to you initially. One such term is affiliate marketing. What is affiliate marketing? Well, simply put, it's when someone sells another person's products for a percentage of the cost. This form of marketing is a very popular source of online income. It could be the selling of e-books, but could also involve the selling of other products and services including software. The owner of the product determines what percentage of the product you will earn and this can range up to 75%.
Another term you may hear about is PLR. PLR simply stands for Private Label Rights. Without getting too technical, it basically means that you own the rights to whatever product is being given to you-although there are other terms associated with PLR, but its best if we stick to that definition right now. Another online income term you may hear about is passive income. This is commonly referred to as "set it and forget it." And that's exactly what it is. Once you set up a passive income online, you will earn extra money from that income on an ongoing basis. If it's set up right, you can earn money indefinitely with an occasional adjustment every once in a while. It's a bit like than tuning up your car.
Multiple streams of online income are something else that is emphasized in the online world. Again, it's exactly how it sounds. Setting up multiple streams of income means that you're earning money from more than just one place. This is important. Internet businesses fail. They are no different from any other businesses. When or if, this happens, you'll need other streams of income to supplement the one you just lost.
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