One of the most common questions readers ask me through email is how can they get started making passive income online relatively quickly and easily with little to no financial investment.
This is a very good question, and very much relevant for someone just starting out. When you are new to the concept of creating passive income streams online some of the questions you are immediately interested in are how quickly can you establish such streams and how much financial investment is required.
It is hard to argue that there can be another more passive way to generate income online other than publishing an eBook. Once you publish an eBook, you can sell it on unlimited platforms online for as long as those platforms and the Internet exist. And that can be done with little to no monetary investment.
An electronic book, or eBook, is a book that is available in digital format. In other words, it can be read on a computer, eBook reader or a smart phone. It is a portable document in that you can take it with you where you go and where you have access to an eBook reader, which again could be a computer, a reader like the Amazon Kindle, Barnes and Noble Nook, iPad, iPod Touch or any other reader/tablet computer or smart phone. eBooks are formatted most commonly in PDF, which stands for “portable document format”.
Thanks to Apple for creating the iPad, Amazon for creating the Kindle and Barnes and Noble for creating the Nook, more readers are gravitating toward the eBook culture. It is no surprise for this reason that we are seeing more libraries and book stores shut their doors. There is no doubt that digital media has surpassed traditional print media, and the trend will likely remain that way.
Given the facts and trends, eBook stores online are cropping up left and right. Most notably, three big reputable names have joined the field who have leveled the playing field even more so by establishing no barriers to entry. This market is wide open for anyone interested and willing to capitalize on this limitless opportunity.
Here is an image of one of my eBooks selling on Amazon:
Here is another one of my eBooks selling on Barnes and Noble:
And here is another one of my eBooks that is selling on Google Books:
Collectively, I now have over 20 eBooks successfully selling online on numerous platforms. What I want to do in the next few weeks is compile a series of posts that discuss how to successfully publish an eBook. I want to discuss the proper way to research, write, market and sell an eBook.
The key here is the word “successfully”. Many can easily slap together an eBook and put it on their website, but marketing and selling it successfully is a whole different ball game. The best selling eBooks follow a time tested and proven methodology, which I will discuss in detail in the coming posts.
I also want you to know right now that you DO NOT need your own website or blog to take advantage of this opportunity. I will discuss several eBook stores online that you can syndicate your eBooks through and benefit from earning passive and residual income. I will go over how you can publish an eBook without expensive eBook publishing software. You don’t need eBook writing software either, but using one can help expedite the process. By the time you and I are done with this series, we will have a comprehensive guide to properly research, write, publish, promote and sell an eBook without owning your own website or blog.
EBooks are a dear subject to me because I publish a few every year and have seen the passive and residual income from them come in consistently and grow with each passing year. I personally can’t think of anything else that I have done that is simpler to execute and passive in nature.
eBooks are a great way to build rapport with and establish long lasting relationships with your readers, fans and followers. When you publish a quality eBook, those who read it will become familiar with the quality of your work. If you have wowed your readers once, you can easily wow them again when you release another product or service. I have given away free eBooks to establish that wow factor, which has subsequently led to several sales of paid products and services. It is that rapport and perception that you establish which is going to work for you in the long run.
From a financial perspective, I’ve had tremendous success selling multiple eBooks online. When you publish just one eBook every few months, or even every year, the cumulative parlay effect translates into several handsome passive income streams overtime. Creating and selling eBooks has given me the freedom and flexibility that comes with establishing passive income streams.
Later in this series I will discuss how you can establish a fully automated business model with eBooks which involves everything from the sale, to the collection of funds and distribution of the product. The best part is that you don’t need to be involved in the process after you’ve set up it up once. I literally make money in my sleep with this method.
Finally, publishing an eBook is an activity that is relatively quicker to complete compared to a niche website for example. It is also repeatable in that once done, you can rinse and repeat the process and move to your next eBook. And once you get the hang of the process, you can outsource the entire initiative by leveraging the help of freelancers and virtual assistants.
So stay tuned. In the next post of this series I will discuss why create an eBook to begin with. You wouldn’t want to miss the post, especially if you are under the impression that you cannot or are not able to write an eBook.
Readers: What are some of the questions and concerns you have regarding how to publish an eBook? What would you like to see incorporated in the upcoming posts of this series?