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Create Passive Income With Ebooks
If I told you that it was possible to create a product that has no production costs, no shipping costs, and can produce just about a 100% profit margin, would you believe me? It sounds too good to be true right? Well, a product like that does exist, and it is called an ebook. Ebooks are basically books that are converted into electronic format, so they can be read on a computer. In fact, you're reading an ebook right now if you didn't already know. You can sell ebooks on a website 24 hours a day, seven days a week, without your involvement. A website that sells an ebook truly is an automatic money-making machine.
How they produce passive income: A visitor to the ebooks website can make a purchase any time he or she wishes. They make a payment to the ebook author via a credit card processing company such as PayPal.com, or ClickBank.com. After the payment is made, the ebook either automatically starts downloading, or the visitor must enter a randomly generated password to access the ebook. All the work is done by the ebook purchaser. Anyone can by the ebook at anytime, and then it is delivered to them automatically. Ebook prices vary greatly. Some cost $9.95, while others cost $399.95. A good rule of thumb is to set the price under $50.00.
How to create this asset: Most people believe they need special software and hardware to start creating ebooks. That is completely untrue. If you know how to type information into Microsoft Word, than you can start writing your very own ebook. Why pay money for so called "ebook software" when you can create one for free with microsoft word? Lets begin with the first step in creating an ebook, which is doing some research.
You need to decide what you would like to write your ebook on. It's best to pick a popular topic, such as learning a new language, or purchasing real estate with no money down. Writing an ebook on how to apply deodorant correctly isn't going to sell! Finding a good topic to write an ebook on requires a lot of thought. You want it to be something you are very interested in, and know a lot about. However, it still needs to be interesting many other people as well. When I couldn't decide what I should write an ebook on, I wrote a list of ideas and had my friends pick the one they liked best.
After you have found an interesting topic to write about that is appealing to many people, its time to start writing. All you really need to do is open up Microsoft word and start typing away! You'll be finished 17 pages before you even know it. It takes about two weeks to write a good ebook that will sell well. Be careful of errors in your writing though. Some common errors are spelling errors, grammar errors, and punctuation errors. And then there's the error where you accidentally delete half of your ebook! Make sure you constantly save your ebook so you don't lose any of the valuable information that you have typed.
After your ebook is all finished to your liking, it is time to convert it to .pdf format. This is the accepted format for ebooks. A free program called CutePDF can convert Microsoft Word files into the .pdf format. To download CutePDF, visit http://www.cutepdf.com. Once it is downloaded and installed, open your ebook in Microsoft Word, go to File, and then choose Print. Then in the printers drop-down menu, choose CutePDF Writer, and then hit print. The CutePDF Writer program will then ask you where you want your ebook to appear. After choosing where to save your ebook, click "Save". Your ebook has officially been converted to a .pdf file!
Now that the ebook is ready to go, the next step is to create a website. You can hire a professional website design firm to handle everything for you for about $500.00. If you're a do-it-yourselfer, I recommend reading "HTML for dummies". It explains the basics on creating a website, which should be just enough to start an ebook website. For a website host, I recommend PowWeb.com.
On your website you basically want to create a small sales letter that explains details about your ebook. Your customers decide whether to buy your ebook or not because of your sales letter. Don't include any hype. Just be honest, and provide small highlights about your ebook. On your website you'll want to put a "Buy it now" button from PayPal.com. PayPal lets you create a button to start selling your ebook for whichever price you choose, and will automatically take care of all credit card and e-check payments for you. The money you make can be deposited electronically into your checking or savings account.
For more information:
How they produce passive income: A visitor to the ebooks website can make a purchase any time he or she wishes. They make a payment to the ebook author via a credit card processing company such as PayPal.com, or ClickBank.com. After the payment is made, the ebook either automatically starts downloading, or the visitor must enter a randomly generated password to access the ebook. All the work is done by the ebook purchaser. Anyone can by the ebook at anytime, and then it is delivered to them automatically. Ebook prices vary greatly. Some cost $9.95, while others cost $399.95. A good rule of thumb is to set the price under $50.00.
How to create this asset: Most people believe they need special software and hardware to start creating ebooks. That is completely untrue. If you know how to type information into Microsoft Word, than you can start writing your very own ebook. Why pay money for so called "ebook software" when you can create one for free with microsoft word? Lets begin with the first step in creating an ebook, which is doing some research.
You need to decide what you would like to write your ebook on. It's best to pick a popular topic, such as learning a new language, or purchasing real estate with no money down. Writing an ebook on how to apply deodorant correctly isn't going to sell! Finding a good topic to write an ebook on requires a lot of thought. You want it to be something you are very interested in, and know a lot about. However, it still needs to be interesting many other people as well. When I couldn't decide what I should write an ebook on, I wrote a list of ideas and had my friends pick the one they liked best.
After you have found an interesting topic to write about that is appealing to many people, its time to start writing. All you really need to do is open up Microsoft word and start typing away! You'll be finished 17 pages before you even know it. It takes about two weeks to write a good ebook that will sell well. Be careful of errors in your writing though. Some common errors are spelling errors, grammar errors, and punctuation errors. And then there's the error where you accidentally delete half of your ebook! Make sure you constantly save your ebook so you don't lose any of the valuable information that you have typed.
After your ebook is all finished to your liking, it is time to convert it to .pdf format. This is the accepted format for ebooks. A free program called CutePDF can convert Microsoft Word files into the .pdf format. To download CutePDF, visit http://www.cutepdf.com. Once it is downloaded and installed, open your ebook in Microsoft Word, go to File, and then choose Print. Then in the printers drop-down menu, choose CutePDF Writer, and then hit print. The CutePDF Writer program will then ask you where you want your ebook to appear. After choosing where to save your ebook, click "Save". Your ebook has officially been converted to a .pdf file!
Now that the ebook is ready to go, the next step is to create a website. You can hire a professional website design firm to handle everything for you for about $500.00. If you're a do-it-yourselfer, I recommend reading "HTML for dummies". It explains the basics on creating a website, which should be just enough to start an ebook website. For a website host, I recommend PowWeb.com.
On your website you basically want to create a small sales letter that explains details about your ebook. Your customers decide whether to buy your ebook or not because of your sales letter. Don't include any hype. Just be honest, and provide small highlights about your ebook. On your website you'll want to put a "Buy it now" button from PayPal.com. PayPal lets you create a button to start selling your ebook for whichever price you choose, and will automatically take care of all credit card and e-check payments for you. The money you make can be deposited electronically into your checking or savings account.
For more information:
- http://www.paypal.com- A low-cost credit card processor for small businesses.
- http://www.ebookfriends.com - A great resource for those just starting out in creating and selling their very own ebook.