A great way to make a passive income is with Ebooks.
Imagine writing a book on a digital format and waiting for the money to come in each and every months without doing nothing! Sounds too easy or like a scam? Check what’s following and maybe you will be more convinced.
First of all I should mentioned how attractive the Ebook market is. I am pretty sure that every day you come across people reading books on their tablet or smartphone, which is not surprising. But what’s interesting is to take a look back a few years ago when reading on that format was unknown. The market simply didn’t exist. Today not only people read on the digital format but they are more and more to so.
We see that that market is growing fast and it gives a lot of opportunities for people like you and me!
So why should you take this opportunity to make money?
Writing on the digital format is much more convenient than writing a traditional book. With the traditional format you have to get an editor, find a publisher who accept to publish your content (they take from you high commissions on each sale you make), you have also to pay to produce your book…so the barrier to entry is pretty high.
When you consider writing Ebook, things get easier. Basically you just have to invest a little bit of your time on writing some good stuff and then use platforms like Amazon, Snippet or Barne & Noble to sell it. The great thing about that is the low commissions those platforms take. To give you an idea if you sell your book on Amazon you make from 35% up to 70% profit on each sale (compared to some traditional publishers that only let you 5% of your sale).
Is the Ebook business for you?
At this point I am pretty sure you’re thinking:
Ok great I see I can make some money here, but I am not a specialist, I can’t write!
If you think that I want you to consider this:
If you know just a little bit more than most people on a specific topic you can definitely sell them something!
It can be really anything: gardening, cooking, traveling, sport…For example I know some people who have written books about places they visited and they got some nice sales doing so!
And if you really think you are unskilled or don’t have any valuable knowledge (very unlikely in my opinion) you can still write fantasy books. You see, you don’t have any excuses!
So instead of questioning your talent ask yourself the good question, which is the following
How to write a good book?
Writing a good book is important, not only will it bring an awesome content to your readers but as a result it will also make you more profit.
There are many methods to write a good book and they differ from one book to another depending on the type. The method I want to show you is maybe more adapted for those of you who want to write books that teach something to people.
When you write that kind of book I recommend you to do like this:
1) Select a topic you like or are knowledgeable about
2) Go on Amazon.com and look for the bestselling books related to the topic you’ve chosen
3) Read the comments written on Amazon about those books (both negative and positive) and take some notes.
4) Read the first 3 bestselling books related to your topic
The step 3 and 4 will help you to get a better understanding of what people want and what they wish they had seen on the books.
5) Define the different parts of your E-book
6) Write your book and always keep in mind what you’ve read on the comments
7) When you have written the book, have 6 or 7 people read it. You want their feedbacks before publishing anything.
How to transform your book into a bestseller and make money?
When your book is ready I recommend you to publish it on many platforms because you want to reach as many people as possible. Here are some of them:
Amazon, Snippet, Barne & Noble, Smashwords, Bookbaby…
If you want a detailed description of each platform and what they have to offer I recommend you this excellent article .
You need also some promotion if you want to make some good money with E-books. If you don’t do it you will still make some sales but far less than you’re supposed to.
To give you an idea, in 2013, I wrote a book about NLP (neuro linguistic programming) and published it without really promoting it. After one month I only got 3 sales for a total of $30. You can do a lot better than that.
With the following technic you can make hundreds even thousands of dollars with your Ebooks:
1) Publish your book on Amazon.
2) Go on Facebook and look for groups and fanpages that are related to the topic of your E-book.
3) Leave a message on the groups and fanpages.
If you leave a message on a group write a message as follow:
“I noticed that a lot of you guys are wondering how to…(things you’ve read on the group that people were asking) I am glad to tell you that I recently wrote an Ebook that… (make a description of your E-book in function of what people were asking on the group) I am giving this Ebook away to 100 people in exchange for their feedbacks on Amazon. If you’re interested please email me at….”
If you leave a message on a fanpage be sure first to like the page and then find a post that’s related to your Ebook and comment like this:
“I completely agree on…(things you’ve read on a post). I even think that…(bring a valuable comment). That’s actually what I explained on a book I recently wrote. If you want to read it you’re lucky because I am giving it away to 100 people in exchange for their feedback on Amazon. If you’re interested please email me at…”
Important: When you receive an email from someone who want to have your E-book for free, before sending it to him/her via email, make sure that this person has already bought something on Amazon! If he/she didn’t, that person won’t be able to write a comment on the platform.
4) After a few follow-ups with the interested people, you should start seeing some comments on Amazon. The more comments you have the more visible your E-book will get and the more sales you’ll make. Bear in mind that the number of comments is closely related to the place of bestseller on Amazon. So if you get 100 comments or more, I won’t be surprised to see your E-book in the Amazon bestseller category.
So now you know how to make money with one E-book. But why writing only one? You can write 1,2,3,4…of them. In other words you can make 2,3,4…times more profit.
So what kind of book are you going to write?