You've heard of passive income and might think, "What could be better?" Get some work done now and keep reaping the financial benefits for weeks, months, and even years to come.While it's not always that simple, writing ebooks is a hustle and bustle you won't want to ignore: it's relatively simple (though not necessarily easy!).
Although print books are still more popular than their electronic counterparts, it is more possible to enter publishing by following the Kindle (or Nook or iBook) path.And now that Amazon is making publishing easier than ever, printing a physical book is a natural extension of your e-book.
If you're wondering how to make money with ebooks, this is the step-by-step guide you've been looking for.We'll discuss how to find a topic for your book, how to write it, how to publish it, and how to spread the word.
Now, keep in mind that succeeding with e-books is at least somewhat of a matter of being in the right place at the right time.As Amanda Hocking, one of many self-published authors who made millions, said, "As far as I can tell, it was a perfect storm of having the right books of the right genre at the right price at the right time. "
But that doesn't mean it's impossible to succeed with ebooks.
You can improve your chances of making money with e-books by having a niche and content development system, choosing the right platform, making the most of your marketing activities, and perhaps most importantly, riding the momentum and not relaxing to relax once your first book is published.
WHAT ARE EBOOKS?
EBooks are books published online.That's all.
Think of it like streaming a show on Netflix or buying a digital copy of a movie on Amazon.EBooks are digital copies of real books.You can read them on your Kindle, laptop, phone, Nook, or anything connected to the Internet.
More ebooks are being published now than ever before.This happens for a couple of reasons:
- Authors are finding that they can make more money with self-publishing ebooks.Traditional publishing is slow, difficult, and fees are thin.
- Ebooks are easy to publish, and anyone can do it.Anyone can start with an ebook, print hard copies, and record audio versions without leaving home.The market is open.
Both of these points mean that if you're looking to write a book, you don't have to wait for HarperCollins' green light.
You can publish your book on Amazon, Barnes & Noble, and hundreds of other platforms for free.
Yes, you can do this process for free (although I recommend spending some money on a cover, and maybe a publisher).You can set your own prices and market them through the channels you want.
Above all, ebooks allow you to receive monstrous commissions compared to traditional publishing.
So, here's how to write your ebook and make money.
HOW TO WRITE AN EBOOK AND MAKE MONEY
DEVELOP A NICHE
When you think of Stephen King, you automatically know what niche he has filled.If you're looking for a horror novel, you might be inclined to look specifically for one of King's books.If you wanted to read a historical love story, you would probably do a double take if you saw his name next to a depiction of a gentleman by Fabio and an unconscious girl wearing hoop skirts.
The King of Horror has created a place for itself in the publishing world and you should do the same thing.
WHY A NICHE IS IMPORTANT
One of the main reasons why a niche is important is that it makes it easier to establish yourself as an authority on the subject. You probably know a lot about some topics and a little about hundreds of topics.
Let's say you're a nurse working in a general pediatric office.Some of the topics you probably know a lot might include what it takes to become a nurse, baby vaccinations, and common childhood illnesses.You probably also know a few things like specific heart disorders, bone problems in children, and head trauma.
Could you write an ebook about vaccines for children?What would make it different from what's already out there?Many concerned doctors and parents have already written books on the subject.This could be an area where people see you as unqualified or unnecessary.
But perhaps since you are a parent in addition to being a nurse, you could write about how you, as a parent, had to weigh the risks and benefits of vaccinations.You could write about how you overcame the fears you had about vaccines.You can present yourself as an authority on both the nursing and parental angles.
Setting the example of caring and parenting is great because it plays with both of your strengths.It's a niche just yours, but it still solves two real needs (health information and parenting information).
After writing this ebook, you can continue to write additional books on topics where intuition as a parent may or may not align with usual medical recommendations.Alas, your niche is born!
When choosing your niche, I recommend going small instead of big.You could write an entire book about how to be healthy.But there are hundreds of well-researched and well-written books on how to be healthy.It's so hard to bring something new to the table.It's easy to get drowned.
Instead, write for a very target audience.Instead of writing about how to be fit, tell pregnant women on a budget how they can stay fit.Write about fitness for men in depression.Compile the ultimate list to stay healthy and train with your pets.
None of these books will make the New York Times bestseller list.But all of them can make you a sustainable passive income.Spencer (the founder of Niche Pursuits) used this tactic to earn over $100 a day for a while selling his niche ebook.
This tactic works with websites and ebooks.But while smaller is often better , it's not always better.That's why:
DON'T LOCK YOURSELF IN A BOX
A word of warning: before you think you need to develop the narrowest niche possible, consider the case of Tim Ferriss, author of The 4-Hour Workweek.Now he is famous enough that he can write about anything he wanted, but he started with the "4 hours" theme.The 4-hour working week.The 4-hour chef.The body of 4 hours.
All these books are full of self-help ideas and hacks to make your life easier and spend as little time as possible doing what you need to do to succeed.Tim has written about outsourcing, training and cooking… But it's all about self-help.Not only that, but all his books assume that the reader is able to think outside the box and is willing to try new things.
When choosing your niche, narrow is good, but not too tight.You want to see both the forest and the trees.So decide on your point of view, but don't be afraid to move it a bit within the same paradigm, particularly once you have a couple of ebooks under your belt.Remember, the more you write in a particular niche, the more people will perceive you as an expert.
It's important to ask yourself if you're answering any questions someone might have.If your reader has to go elsewhere after reading your book, then you haven't gone deep enough.
QUESTIONS TO ASK YOURSELF AS YOU DEVELOP YOUR NICHE
Developing your niche can seem like a huge undertaking, so you'll ask yourself a few questions to help you narrow it down.Here are some to think about:
- What are your passions? You may know a lot about engineering or law, but if you're not passionate about it, you'll probably get tired of writing about it.If you could spend a year pursuing whatever topic you want, what would it be?
- In your passions, what do you already know, from study or direct experience? It's always easier (and often more fun) to write about what you know.
- Which group of people do you want to reach? Are you trying to encourage teens?Is your dream to become a role model for stay-at-home moms?Want to inspire forty-somethings going back to school?Maybe you want to teach seniors how to make the latest technology work for them.Are pet owners the recipients?
- If you were going to spend a day teaching someone (without pay) how to do something, what would you teach? Who would be your student?This can give you an idea of who your target market is and what your niche might be.
PREPARE YOUR CONTENT WELL
It's the modern era.If you want to know something, it's never been easier to use the device in your pocket to search for it on Google.Let's say you're going to write a book about birds in your state.Why would someone pay to read your eBook instead of just visiting a few ornithological websites?
The truth is that anything you write, outside of fiction, a memoir or an autobiography, can generally be searched online for free.What is the book you're selling that will make people want to buy it?It will be packaging:
How can you package information so that it provides value to your readers?Knowing how to make your fiction or non-fiction book more valuable is what will help you earn money.
SOLVE A PROBLEM FOR YOUR READERS
Let's say you want to know how to care for your new puppy.You can do things like Google, "how to train a puppy's potty," "how to socialize a puppy," and "how to get me to nibble on my shoes."
Over time, you'll need to know how you're feeding your four-legged friend enough, what should induce a call to the vet, what to do if he doesn't walk well on a leash, and how to get him trained in the crate.While you can certainly spend hours searching for all this information yourself, wouldn't it be easier to download an e-book that tells you what to do, step by step?
This is what you need to keep in mind so that you can make money with ebooks.Consider a problem your reader may have and create an ebook by putting all the information together in a way that is easy to read and simple to follow.
Here!While they can probably get the same information for free online, they can't do so without an investment of time.By putting it all together, you solved their problem without taking up hours of their time.
It's also worth remembering that people don't always value something unless they pay for it.This is one of the great mysteries of humanity and I don't understand it.But when people pay some money for your ebook, there's a big chance they'll read it to the end.This is not true for websites.
Although comparable information is available on the web, people often don't read it.We are real; we've compiled an extensive list of information about Niche Pursuits ebooks.Have you read it all?
No!Of course not. But if we charged you $5, you'll want to get your money's worth.
Ebooks are similar.
INVEST IN YOUR ART
You need to spend money to make money, and this is true for both publishing ebooks and anything else.An important part of how to make money with ebooks includes investing in your work.Here are some of the services you might want to hire so you can make your book as professional and worthwhile as possible to buy:
- Cover .Forget about trying to scribble or freehand your cover and don't even think about sticking a solid cover with a Times New Roman title on your book.If you're not an artist or photographer, find someone who needs to create a great cover for your ebook.Remember, you only have one chance to make a good first impression and that cover will be what your potential readers will see most of the time.
- Professional correction and revision .Not all great writers are also great editors, and your chosen electronic grammar checker won't be enough to catch every possible error.Even if you are usually an impeccable writer, it is almost guaranteed that someone else will be able to find awkward words or places where you used an incorrect phrase.
- Formatting help.Depending on the platform you're using, there will be some differences in the formatting you use.If you are a computer expert and don't mind following a step-by-step instruction manual when it comes to formatting, then you could save money and do it yourself.If you're not proficient with Microsoft Word and really don't want to worry, it's better to hire someone to help you rather than trying to send in the wrong format and handle that fiasco.
MAKE MONEY WITH E-BOOKS: SELLING E-BOOKS ONLINE
KNOW YOUR PLATFORMS
When it comes to actually publishing your ebook, you have a few choices about which platform (or platforms) to use.Here is the lowdown on some of the most popular.
SELF-PUBLISH ON AMAZON KINDLE
Kindle Direct Publishing it's something of the holy grail of e-book publishing: it's not only the best known, but two-thirds of the e-book buying market is held by Amazon.There are a few advantages.
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First, anyone can get the Kindle store app for their computer, tablet, or device; this means that many people will be able to access your Kindle book, even if they don't have a Kindle.
Secondly, there are promotions included with KDP, one of which is the free program, which allows you to gift your book for free.(No, this isn't a counterproductive tip on how to make money with e-books; you'll actually create interest that can pay off big later.)
Finally, the publishing process is relatively simple.Royalties for books costing $2.99 to $9.99 are 70 percent and outside that range are 35 percent.If you want to know how to make money with books on Kindle, check out Spencer's post on how to make $100 a day with Amazon.
One thing I love about Kindle is that they allow you to make physical copies of your book for free.Books are printed after someone has purchased, so there are no storage or inventory fees.You earn directly on every sale.
You can also leverage Amazon's partnership with Audible to create an audio version of your book.I love audio books and this makes it a natural channel for your novel.This allows you to easily publish a digital, physical, and audio version of your book on a single platform.
The Barnes and Noble reader is called Nook, and this device is responsible for about a quarter of e-book readers.
One advantage of publishing with Nook is that the platform allows for easy collaboration, so if you're working on your book with someone else, this might be a consideration.Nook also offers live chat services if you need help.Royalties for books costing $2.99 to $9.99 are 65 percent and outside that range are 40 percent.
Publishing with iBooks means your work will be available to anyone with an iPhone, iPad, or Mac through Apple's iBookstore.This system is more complicated than some of the other popular platforms.
But if you've written a cookbook, a series of children's books, a photo book, or some other type of ebook with lots of multimedia content, it's a great option to look into.Royalties are 70% of the list price and there are no listing fees.
Outside of the big three platforms that dominate the market, there are many smaller companies and distributors that could fit your ebook perfectly. Smashwords, for example, distributes books on both iBooks and Nook.
Kobo has a simple process for uploading books, and they also have a partnership with the American Booksellers Association, which allows you to place your book in thousands of independent e-book bookstores.
Scribd is another growing e-publishing platform; This allows authors to upload in a variety of formats, saving time and money.Do your research: How you make money with ebooks depends in part on choosing the right combination of publishing platforms.
GET RICH SALES EBOOKS
Writing a book is the easy part.Making a kill by writing ebooks is the hard part.Here are some things you can do to make sure your earnings keep increasing.
PROMOTE YOUR WORK
In order to increase sales and make money, you will need to do some marketing.Ideally, this will start while the ebook is just a twinkle in the eye; Maybe you have a blog on your chosen topic or else you have the authority, both online and offline.
If not, don't worry – you can start your marketing at any time before or after publishing.Here are some places to promote your ebook for free.Also, try the following:
CREATE A BLOG
You may already know that you can make money blogging through affiliate programs, but don't forget that it's also a great way to get readers beating on your ebook.
It's best if your blog is up and running before writing an ebook because you can use it both to gauge interest and create anticipation.
Release small previews, increase the publication date, provide basic information, and so on.Once the ebook is published, do not drop the ball; Encourage momentum to keep the excitement high by focusing your blog posts on your eBook and relevant topics.
HOW I BUILT A NICHE SITE THAT EARNS $2,985 PER MONTH
You want to start a niche site that can bring in $3,000 per month… or more?Here I discuss:
- The tools you'll need
- How to get started with a budget
- The best way to generate income quickly
Interested? Click here to learn how to start your own revenue-generating niche site.
BUILD A SOCIAL MEDIA PRESENCE
Again, it's best if you already have one, but even if you don't, take full advantage of the platforms that are likely to attract your target readers.If you've written a dystopian novel by YA, you'll want to focus on Reddit (and don't miss this post on Reddit marketing!), Tumblr, Instagram, and Twitter.
If it's a cookbook you've written, create an account on Pinterest.Most people use Facebook, so you won't want to neglect that particular platform.One consideration when it comes to how to make money with ebooks is to become famous, and social media is one way to do that.
HOST A GIVEAWAY
If you publish to Kindle, take advantage of the program that allows you to gift your book for several days.Also, give away the first chapter of your book and give the book to people in exchange for an honest review.Keep a drawing on your blog; make a share on Facebook, Twitter or Instagram equal to a voice.
Giving away your e-book (or parts of your e-book) for free will create the buzz you need to inspire sales.Jim Belosic, co-founder of Shortstack, has some tips on how to create a successful giveaway.Be sure to pay close attention to the part at the end about creating a post-gift action plan.
As you keep writing (more on that later!), You'll want to market your new job to the people who participated in the contest.
DO YOU WANT TO DO IT THE EASIEST WAY?
Publishing an ebook on Kindle is one of the hardest things I've ever done, but it's been 100% worth it.
The steps I outlined above are 100% of what I did to sell my book.But looking back, I wish I had known someone who could have mentored me more.Even though it went well in the end, I could have done much better if I had known someone like that.
Chandler Bolt was one of the first people I heard about, who did well with self-publishing. You can check out his podcast interview here.
He started a course to take you from 0 to 100 on publishing a Kindle book.It's a no-frills guide to success through self-publishing.
You can click here to sign up for a free webinar where he reveals his course.
SCHOOL OF SELF-PUBLISHING
I wish I had met a mentor who could guide me through the self-publishing process with my ebook.Chandler Bolt can be your mentor.His course teaches you how to:
- Learn how to go from idea to run in 90 days
- Write the bestseller you know is inside you
- Get the scoop on how to publish and how to make sales with your book
Click here to learn more about Self Publishing School and start your legacy
If you're not sure what to write, here are some niches you could get into.I include general ideas, so more specific below:
- How to keep fit after retirement
- Impacts of fitness on productivity
- Stay fit when you have a busy life
- Keeping chickens in your yard
- Health Benefits of Owning a Cat
- How to live outside the land with livestock
- Discover how to sew like your grandmother
- Carve wood with the best of them
- The science of billiards
- Family life
- Raising children
- How to be a good parent
Now that I've provided some specific examples, here are some broader topics:
- Makeup / hairstyle
- Meetings / Reports
THE MOST IMPORTANT STEP FOR E-BOOKS: KEEP WRITING
Finally, keep writing.In a guide on how to make money with e-books, you should not forget the importance of continuing with your craft.If you write an ebook, it's great… But if you write one every month or every quarter or every year, it's even better.The best way to make money from ebooks is to keep adding new material to the market.
Not only will it boost sales of your new books, but it will also inspire new readers to go back and buy your older books.Working this way to keep selling ebooks doesn't have to become your full-time job, but it can!
What should you write about?Refer to your niche and see what makes sense.If you're writing fiction, consider a spin-off or a continuation of your story.For nonfiction books, choose another topic within the same niche.You can always choose a different niche, but if it is somehow related to the current topic of choice, you will be able to market with the same people.
Remember, when it comes to making money online, passive income isn't actually passive in most cases.While there's a chance you'll take off and your book will become a bestseller and movie, it's more likely that you'll need to keep putting the work into writing and marketing even after you've published and sold your ebook.
Getting checks on the royalties that grow every month, however, will make all the work more than worth it – you'll have learned how to make money with e-books, and the rewards will be great.