After asking several people from the local Fresno work from home groups how many of the following words they knew the definition of, it was surprising to find exceedingly few who were familiar with these terms.
Work from home terms to know:
- Affiliate: When one signs up with a company to earn commissions by promoting their product or service that person then becomes an affiliate of that company.
- MLM: MLM stands for Multi-level marketing. This term refers to a multi-level system in which people earn commissions by signing up others under them.
- Independent Contractor: Independent contractors are those who are either self-employed or those whom have entered into an independent contractor agreement with a company. Independent contractors receive a 1099 in place of a W-2, and are responsible for paying their own taxes.
- Home Business: Anytime a business operated from a home, it is a home business.
- Home Job: Refers to those employed from home, who are working for a specific company.
- Freelance: Refers to those who find their own work, such as writers. Freelancers are similar to independent contractor.
- Residual Income: When one earns money on an ongoing basis, usually requiring minimal effort after the initial work.
- Telecommute: When a company allows an employee to work in part, or all from home. Usually working via telephone or the internet.