Many people look to e-books as a source of passive income. After all, what could be better than having something available to sell 24 hours a day 365 days a week.
In this series of 7 articles I’m going to document my story about writing my e-book and how you can write one too.
Having an ebook establishes your credibility both as a site and as a leader and authority of your niche. It allows you to stand out from the crowd.
In the days before the internet, establishing your credibility would have been a long drawn out process and your reach would be limited. It would have involved a lot of work writing, finding an agent, an editor and a book publisher. It would have taken you months, with no guarantee that your work would be chosen or you would earn an income from it.
With the internet however, you literally have a shop window to the world, and if you have something of use to people, then you have a potential market for your product.
As I said in the introduction, an ebook differs from a book in a shop in that it’s available to purchase 24 hours, 7 days a week, 365 days a year. You’re not limited to store opening hours to generate sales.
An ebook differs from a normal book in that once you’ve done the hard work and written the pages, changed it about, edited and designed, written a sales page – that’s it. There are no paper costs, production costs or shipping costs. There are no fees to agents or profit sharing with retailers.
The costs of selling each ebook are virtually nil and you, the author, gets to keep the majority of the sales price i.e. almost a 100% of the price you sell your ebook for.
Plus what’s more, having an ebook allows you to plant little ‘seeds’ giving your the chance to grow income for many years to come and guess what? If someone buys from you once and they like it, they are more likely to buy from you in the future.
Passive income journey
For the last 2 years The Big Red Tomato Company has generated all it’s revenue from offline activities, but over the next year I want the mix to change to include online revenue sources too.
I’m writing this series of posts to show how your business can turn your knowledge into a profitable revenue source.
With my own ebook, I’m creating a workbook for people who want to achieve their business goals. It will take the reader step by step through the creation of their own goals to delivery and achievement of success – it’s the same method that we use with our coaching or business clients to achieve their goals and objectives.
Many people think that writing an ebook is a daunting task, and it can be, but it’s really no more than a series of blog posts and if you think of it like that, then it’s a lot easier to get it written. For sure, setting out and writing an ebook straight off would be a difficult task, which is probably why many people either never get round to writing one or give up before it’s finished. But like many problems facing us, breaking into small chunks makes it much easier to achieve.
With my workbook, it will consist of about about 15 chapters, so far I’m three chapters in and I’m trying to complete a couple of chapters each week.
Sometimes, it’s difficult to get motivated and you spend time commenting on other sites or doing ‘research’ on the internet but it’s important to focus on your site as a business if you want to earn an income from it.
Next week we look at how to choose a topic for your ebook.
So what do you think?