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Online Income - Explanation of Popular Terms

Oct 5th 2010 at 2:02 PM

There is a reason why many people want an online income. It could be for convenience. It could also be for a supplementary income. Or it could be because they don't want to work a typical 9 to 5 job. What are your reasons? Whatever they are, you can be assured that making a living online is possible. It requires a lot of hard work, but it's not impossible to do. It doesn't exactly take skill either. Anyone can learn to make money online with dedication and determination.

There may be a lot of terms you're not familiar with when it comes to making money online. At first glance, you'll see a lot of abbreviations or popular phrases used among the online marketing community that may make you scratch your head. One such term is affiliate marketing. What is affiliate marketing? Simply put, it is when someone sells another person's products for a percentage of the cost. Affiliate marketing is a popular source of online income. It usually involves the selling of e-books, but it can also involve the selling of software, other online products and services. Each percentage is determined by the owner of the product, and can range from 10-75%.

PLR is another term you may run across. PLR simply stands for Private Label Rights. Without getting too technical, it simply means that you own the rights to whatever product is being given to you. There are other terms associated with PLR, but it's best if we stick to that definition right now. Another online income term you may run across is passive income. This income is commonly referred to as "set it and forget it." It's exactly as it sounds. Once you set up a passive income online, you will earn residual money from that income on an ongoing basis. If it's set up right, you can earn money indefinitely with an
occasional minor tweak every once in a while. It's no different 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 when earning money online. Internet businesses fail. It's a matter of fact. They are no different than brick and mortar businesses. When this happens, you'll need other streams of income to supplement the one you just lost. It is unwise to put all your eggs in one basket.

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